The aim of this paper is to extend the computation of price multiplier matrices to encompass alternative factor substitution assumptions. Since classical multiplier analysis disregards attempts by firms to adapt to changing relative factor prices, estimated price effects will be overvalued. By allowing a choice of techniques, howeverywe may attain a better understanding of the cause-effect mechanism linking commodity prices with exogenous changes in factor prices. © 1992, Taylor & Francis Group, LLC. All rights reserved.