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This is before any local price increases are included.
As a consequence, the conditional mean of the Local price increases in the second period (panel b).
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The difference between local prices will increase, as will the FTR's payoff, even after considering the losses from virtual purchases in the presence of a forward premium.
Douglas Frantz (NYT) THE AMERICAS ECUADOR: PACT TO END PROTESTS -- President Gustavo Noboa reached an accord with Indian leaders to end protests by indigenous groups over proposed fuel and transport price increases, local news media and indigenous leaders said.
Some local "bubbles" may pop; elsewhere, price increases may subside.
For retail and the local economy as a whole, price increases would be negligible.
He said the incident took place when the demonstrators marched to the local parliament building to protest price increases.
* American Telephone and Telegraph Co. said it had proposed nearly $20 million in price increases for the local channel portion of interstate private-line services that terminate in Florida and Georgia.
But there is a fear of price increases, making it harder for locals to buy.
A further memo, from 1992, concerning El Salvador, refers to local BAT managers consulting a Philip Morris executive on price increases.
The most popular price points are at the low-end, with a local peak around the $10 mark, and then tailing off as the price increases.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com