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The results support the notion that comparison between recently encountered prices is necessary to render the price variable highly evaluable.
This permits not only to enhance the reliability of the estimation by incorporating the uranium price formation mechanisms in the MFLC via the price variable, but also to give preliminary insights about uranium supply and demand behaviors and the associated effects on the nuclear expansion.
The price variable was constructed from retail prices reported by individual wineries.
As a result, the price variable is likely to correlate with the error term.
Figure 2b displays the impulse response of the international crude oil price variable to China's refined oil price shock.
where λ is the marginal utility of income, i.e. the estimated parameter of cost or price variable.
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As expected, all price variables have positive signs.
Seasonality is partly captured by the price variables.
Thus, this study includes instrumental variables for lagged electricity price variables to avoid omitted variable bias.
After the approximation, price variables and power variables are decoupled and the index is linearized.
We also plot the convergence of price variables in response to the PN channel usage change in Figure 6.
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