Relative Prices of Cereals, 1952 to 1970

S K Chakrabarti This paper presents the main results of a statistical inquiry into the factors that have governed the course of cereals prices in India during 1952 to 1970. The reduced form equation for price is derived from a theoretical model of price determination in the cereals market; statistical estimates of the equation (and its variants) are then obtained using all India annual data for the sample period.