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| Araujo-Enciso, Sergio Rene. |
| The supply of maize in the Mexican market depends to a large extent from the US imports which represent a large share of the domestic consumption. Furthermore imports exhibit a seasonal pattern, and peaks are often found close to low levels of domestic production and stocks. The present research suggests that there is a link between imports and prices volatility. Below a threshold value, imports and volatility are not related, but beyond the threshold it is volatility the variable driving imports. From the results one can argue that imports have served as a measure to stabilize prices when the domestic supply is scarce. |
| Tipo: Presentation |
Palavras-chave: Volatility; Maize; Imports; Mexico; Risk and Uncertainty; Q11; Q17. |
| Ano: 2012 |
URL: http://purl.umn.edu/122544 |
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| Araujo-Enciso, Sergio Rene. |
| Economic theory states that the spatial equilibrium condition is a region where prices can be or not cointegrated. It is when prices are within such a region when they are no cointegrated, when prices are in its boundaries they are not only cointegrated but also fulfilling the Law of One Price (LOP). Nonetheless the econometric techniques assume a mean reverting process in order to test for cointegration, either linear or non linear. This research shows that in the absence of such mean reverting process by using prices in pure equilibrium, cointegration (linear and non linear) is often rejected. Such findings go in line with the Band Threshold Autoregressive Model where the neutral band is a region of no cointegration. Furthermore it can be concluded that... |
| Tipo: Presentation |
Palavras-chave: Spatial Equilibrium Condition; Testing Cointegration; Demand and Price Analysis; Risk and Uncertainty; C15; E37. |
| Ano: 2012 |
URL: http://purl.umn.edu/122545 |
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| Araujo-Enciso, Sergio Rene. |
| The Takayama and Judge Allocation models serve as the theoretical foundation for spatial market integration analysis, and despite the large number of papers devoted to the topic, still the knowledge and understanding of the economic phenomena is fragile. By generating artificial economic data under an economic framework, it is expected to contribute to a better understanding of the topic and revise if the current econometric (threshold vector error correction models) techniques are suitable for the analysis or not. Following the static and equilibrium nature of the Takayama and Judge models, it was possible to introduce dynamics and disequilibrium in the model to generate artificial data: prices. Such artificial prices were used to get a first insight on... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: International Relations/Trade; Marketing. |
| Ano: 2011 |
URL: http://purl.umn.edu/114225 |
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