The Chilean wheat market and its price support mechanism : a spatial market integration analysis
This research investigates the spatial market integration of the Chilean wheat market in relation with its most representative international markets by using a vector error correction model (VECM) and how a price support policy, as a price band, affect it. The international market was characterized...
Guardado en:
| Autores principales: | , , , |
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| Formato: | article Artículo publishedVersion |
| Lenguaje: | Inglés |
| Publicado: |
Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias
2011
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| Materias: | |
| Acceso en línea: | http://bdigital.uncu.edu.ar/4308 |
| Aporte de: |
| id |
I11-R84308 |
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| record_format |
dspace |
| institution |
Universidad Nacional de Cuyo |
| institution_str |
I-11 |
| repository_str |
R-8 |
| collection |
Biblioteca Digital |
| language |
Inglés |
| orig_language_str_mv |
eng |
| topic |
Chile Alemania Trigo Mercado Datos estadísticos Wheat Análisis de cointegración Precio de cereales Mercado Internacional de Commodities Modelo de corrección de errores Co-integration analysis Price band Cereal prices International Market of Commodities Vector error correction model |
| spellingShingle |
Chile Alemania Trigo Mercado Datos estadísticos Wheat Análisis de cointegración Precio de cereales Mercado Internacional de Commodities Modelo de corrección de errores Co-integration analysis Price band Cereal prices International Market of Commodities Vector error correction model Valdés, Rodrigo Cramon-Taubadel, Stephan von Díaz Osorio, José Engler Palma, Alejandra The Chilean wheat market and its price support mechanism : a spatial market integration analysis |
| topic_facet |
Chile Alemania Trigo Mercado Datos estadísticos Wheat Análisis de cointegración Precio de cereales Mercado Internacional de Commodities Modelo de corrección de errores Co-integration analysis Price band Cereal prices International Market of Commodities Vector error correction model |
| description |
This research investigates the spatial
market integration of the Chilean wheat
market in relation with its most representative
international markets by using a vector error
correction model (VECM) and how a price
support policy, as a price band, affect it. The
international market was characterized by two
relevant wheat prices: PAN from Argentina and
Hard Red Winter from the United States. The
spatial market integration level, expressed
in the error correction term (ECT), allowed
concluding that there is a high integration
degree among these markets with a variable
influence of the price band mechanism mainly
related with its estimation methodology.
Moreover, this paper showed that Chile can
be seen as price taker as long as the speed
of its adjustment to international shocks, being
these reactions faster than in the United States
and Argentina. Finally, the results validated
the "Law of the One Price", which assumes
price equalization across all local markets in
the long run.
|
| format |
article Artículo Artículo publishedVersion |
| author |
Valdés, Rodrigo Cramon-Taubadel, Stephan von Díaz Osorio, José Engler Palma, Alejandra |
| author_facet |
Valdés, Rodrigo Cramon-Taubadel, Stephan von Díaz Osorio, José Engler Palma, Alejandra |
| author_sort |
Valdés, Rodrigo |
| title |
The Chilean wheat market and its price support mechanism
: a spatial market integration analysis |
| title_short |
The Chilean wheat market and its price support mechanism
: a spatial market integration analysis |
| title_full |
The Chilean wheat market and its price support mechanism
: a spatial market integration analysis |
| title_fullStr |
The Chilean wheat market and its price support mechanism
: a spatial market integration analysis |
| title_full_unstemmed |
The Chilean wheat market and its price support mechanism
: a spatial market integration analysis |
| title_sort |
chilean wheat market and its price support mechanism
: a spatial market integration analysis |
| publisher |
Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias
|
| publishDate |
2011 |
| url |
http://bdigital.uncu.edu.ar/4308 |
| work_keys_str_mv |
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