Data/hora: 11/06/2024 07:08:49

Provedor de dados: 	31	
País: 	United States	
Título: 	EU and World Agricultural Markets: Are They more Integrated after the Fischler Reform?	
Autores: 	Mela,   Giulio; Canali,   Gabriele.	
Data: 	2012-02-23	
Ano: 	2012	
Palavras-chave: 	Cointegration; Structural breaks; Agricultural commodity prices; Fischler CAP reform; Risk and Uncertainty; C22; Q02; Q18; O13.	
Resumo: 	This work uses cointegration techniques allowing for structural breaks to assess the extent to which the Fischler reform of the CAP increases price transmission elasticity (PTE) between the world and European corn, wheat, and soybean markets. Results show that the reform increased PTE in the case of corn and wheat, while its impact was negligible for soybeans. However, the long-term relationship (cointegration) between world and European prices can be detected only taking into account – other than the Fischler reform’s structural break – also the fact that world commodity markets were interested, in 2003-04 and 2007-08, by price bubbles. In particular the latter affected the world – European corn price relationship in the ascending phase, while the wheat and soybeans markets in the descending phase.	
Tipo: 	Presentation	
Idioma: 	Inglês	
Identificador: 	http://purl.umn.edu/122480	
Relação: 	European Association of Agricultural Economists&gt;123rd Seminar, February 23-24, 2012, Dublin Ireland	
Formato: 	17