| College textbook prices are investigated in detail using an ARDL approach to cointegration. This technique allows for the examination of short and long run affects to prices brought upon by changes in personal income, college enrollment, input prices and changes in corporate profit. The 2008 economic downturn and the introduction of the 2008 Higher Education Opportunity Act have also been included in this analysis as factors affecting price. The results of my analysis show that supply factors were stronger determinants in the long run changes of textbook prices, while in the short run, both supply and demand factors are determinants of textbook prices. Both 2008 market shocks also were found to have negative effects on prices in the college textbook market. |
