Factor and Product Market Tradability and Equilibrium in Pacific Rim Pork Industries

Journal of Agricultural and Resource Economics, Forthcoming

Posted: 22 Oct 1999 Last revised: 23 May 2011

See all articles by Christopher B. Barrett

Christopher B. Barrett

Cornell University - Charles H. Dyson School of Applied Economics & Management

Jau-Rong Li

I-Shou University

DeeVon Bailey

Utah State University - College of Business - Department of Economics

Date Written: August 1, 1999

Abstract

This paper uses a new market analysis methodology to examine price and trade relationships in eight Pacific Rim factor and product markets central to the Canadian and U.S. pork industries. The new method enables direct estimation of the frequency with which a variety of market conditions occur, including competitive equilibrium, tradability, and segmented equilibrium. While extraordinary profit opportunities emerge episodically in a few niche markets, the vast majority of the markets studied are highly competitive? exhibiting zero marginal profits to spatial arbitrage at monthly frequency? and internationally contestable. In spite of continued high international transfer costs, the Pacific Rim is effectively a single market for pork producers and processors today.

JEL Classification: F0, Q1, L1, D4

Suggested Citation

Barrett, Christopher B. and Li, Jau-Rong and Bailey, DeeVon, Factor and Product Market Tradability and Equilibrium in Pacific Rim Pork Industries (August 1, 1999). Journal of Agricultural and Resource Economics, Forthcoming, Available at SSRN: https://ssrn.com/abstract=185373 or http://dx.doi.org/10.2139/ssrn.185373

Christopher B. Barrett (Contact Author)

Cornell University - Charles H. Dyson School of Applied Economics & Management ( email )

315 Warren Hall
Ithaca, NY 14853-7801
United States
607-255-4489 (Phone)
607-255-9984 (Fax)

HOME PAGE: http://aem.cornell.edu/faculty_sites/cbb2/

Jau-Rong Li

I-Shou University ( email )

Kaohsiung
Taiwan
(886)-935654172 (Phone)
(886)-76577056 (Fax)

DeeVon Bailey

Utah State University - College of Business - Department of Economics ( email )

3530 Old Main Hill
Logan, UT 84322-3530
United States

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