Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Equations are estimated to explain and predict the price indices for three b road groups of primary commodities. The questions of principal intere st are the effect of economic activity on prices and the dynamics of the adjustment of prices to external shocks. The results suggest that adjustment patterns are quite complex and long lived, but that in th e long run levels of world economic activity do not effect the prices of primaries relative to manufacturers. The equations are compared w ith those deriving from three alternative models of primary prices dr awn from the literature, and are found to be preferable in nearly eve ry respect. Copyright 1987 by Blackwell Publishing Ltd