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International price transmission on soft wheat markets: which role for policy variables in cointegration relationships? AgEcon
Listorti, Giulia.
This paper aims at considering policy regimes while studying international price transmission mechanisms. The focus is on the soft wheat market between the United States and the European Union in the years 1978-2003. EU domestic and border policies are expected to play a strong role; a theoretical framework is developed in which the basic idea is that the intervention price acts as a threshold above which the EU and the US price can interact. A composite variable, equal to the maximum between the intervention and the US price, is then introduced in a cointegration model and its relation with the EU price is studied. In addition to this, other models are estimated, in which the adjustment coefficients and the parameters of the cointegrating vector are...
Tipo: Conference Paper or Presentation Palavras-chave: International price transmission; Cointegration; Common Agricultural Policy; Agricultural and Food Policy; International Relations/Trade.
Ano: 2008 URL: http://purl.umn.edu/43843
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Impacts of Export Controls On Wheat Markets During the Food Crisis 2007/2008 in Russia and Ukraine AgEcon
Goetz, Linde; Glauben, Thomas; Brümmer, Bernhard.
This paper investigates the impacts of export controls in Russia and Ukraine on wheat world market price transmission during the 2007/2008 global food crisis. Russia and Ukraine aimed to reduce wheat exports induced by extraordinarily high world market prices to secure sufficient wheat supply on the domestic markets. Utilizing a Markov-Switching vector error correction model (MSVECM), we find that the temporary export restrictions induced negative effects on wheat markets in Russia and Ukraine. Although instability increased on the world markets itself, we have shown that the increase in the market instability was particularly pronounced in Russia and Ukraine. Also, the export restrictions dampened price transmission to the farmers’ prices, which pushed...
Tipo: Conference Paper or Presentation Palavras-chave: International price transmission; Wheat market; Food crisis; Markov switching error correction model; Russia; Ukraine; Demand and Price Analysis; International Relations/Trade.
Ano: 2010 URL: http://purl.umn.edu/61626
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HOW DID POLICY INTERVENTIONS IN WHEAT EXPORT MARKETS IN RUSSIA AND UKRAINE DURING THE FOOD CRISIS 2007/2008 INFLUENCE WORLD MARKET PRICE TRANSMISSION? AgEcon
Goetz, Linde; Glauben, Thomas; Brümmer, Bernhard.
C1_2
Tipo: Conference Paper or Presentation Palavras-chave: International price transmission; Wheat market; Food crisis; Markov switching error correction model; Russia; Ukraine; Agricultural and Food Policy; Demand and Price Analysis; Research Methods/ Statistical Methods.
Ano: 2010 URL: http://purl.umn.edu/93952
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