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Wheat / Flour Price Transmission and Agricultural Policies in Ukraine: A Markov-Switching Vector Error Correction Approach AgEcon
Brümmer, Bernhard; Zorya, Sergiy.
The analysis of price transmission between raw and processed agricultural products in transition countries is complicated by the frequently changing conditions on their way from plan to market. We utilise a Markov-switching vector error correction model to allow for multiple regime shifts in the price relationship between wheat and wheat flour in Ukraine from June 2000 to November 2004. The analysis reveals four regimes. The observed temporal pattern of these regimes can be matched with certain political and economic events in Ukraine. In particular, we find a strong link between the 'high uncertainty' regime and discretionary policy interventions in 2003.
Tipo: Conference Paper or Presentation Palavras-chave: Markov-switching vector error correction model; Vertical price transmission; Regime shifts; Grain policies; Ukraine; Demand and Price Analysis; Industrial Organization; C22; Q11; Q18.
Ano: 2005 URL: http://purl.umn.edu/24624
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Vertical Price Transmission between Wheat and Flour in Ukraine: A Markov-Switching Vector Error Correction Approach AgEcon
Brümmer, Bernhard; von Cramon-Taubadel, Stephan; Zorya, Sergiy.
The analysis of price transmission in transition countries is complicated by their often unstable policy environments. We utilise a Markov-switching vector error correction model (MSVECM) to allow for multiple regime shifts in the price relationship between wheat and wheat flour in Ukraine from June 2000 to November 2004. The analysis reveals four regimes. The observed temporal pattern of these regimes corresponds well to political and economic events in Ukraine. In particular, we find a strong link between a 'high uncertainty' regime and discretionary policy interventions in 2003, confirming that ad hoc policy responses to fluctuations in Ukrainian grain harvests have tended to increase rather than reduce instability. The Markov-switching VECM is shown to...
Tipo: Conference Paper or Presentation Palavras-chave: Markov-switching vector error correction model; Vertical price transmission; Regime shifts; Grain policies; Ukraine; Industrial Organization; C22; Q11; Q18.
Ano: 2006 URL: http://purl.umn.edu/25575
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CHANGING CANADIAN GRAINS POLICIES: IMPLICATIONS FOR MONTANA'S GRAIN INDUSTRY AgEcon
Young, Linda M..
In Canada many changes have been made, and more are pending, to their grain transportation policies. This package of policy changes has two offsetting impacts on freight rates for Canadian grain producers. The removal of transportation subsidies on grain for export offshore has roughly doubled the cost of transporting grain for the Canadian producer. In addition, the change in pooling points will increase freight rates even more for producers in the eastern part of the prairies. Whether federally owned grain hopper cars are sold to the railways, or to an association of Canadian producers, the cost of the sale is likely to be born by producers through increased freight rates over a number of years. In addition, Canadian producers will bear the cost of...
Tipo: Working or Discussion Paper Palavras-chave: Trade; Canada wheat; Montana wheat; Grain policies; Agricultural and Food Policy; F1.
Ano: 1996 URL: http://purl.umn.edu/29172
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