MACROECONOMIC FACTORS AND THE THOROUGHBRED INDUSTRY
Michael Reed () and
Douglas D. Tvedt
Journal of Agricultural and Applied Economics, 1993, vol. 25, issue 1, 9
A capitalization approach is used to estimate econometrically the effects of exchange rate, interest rate and tax law changes on thoroughbred yearling prices. The analysis found that exchange rate and tax law changes have significantly influenced yearling prices since the early 1980s. Another serious price-reducing event was the 1986 tax law change. Both of these factors have counteracted the positive impact of increased purse rates on yearling prices.
Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
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Journal Article: Macroeconomic Factors and the Thoroughbred Industry (1993)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:15208
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