1991
DOI: 10.2307/1242730
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Cointegration Tests and Spatial Price Linkages in Regional Cattle Markets

Abstract: This analysis empirically evaluates spatial linkages in regional cattle markets using cointegration tests of regional price series. Several markets were not cointegrated over the 1980 through 1987 period. However, significant increases in cointegration of several regional livestock markets are observed through the 1980s. The increased cointegration parallels significant structural changes in the livestock industry. A formal analysis of market characteristics reveals that distances between markets, industry con… Show more

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Cited by 265 publications
(164 citation statements)
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“…1; 2016 f) PC j and PC i is the level of output of the commodity normalized by the population in the district. According to Goodwin and Schroeder (1991), low volume markets have "a bigger potential for exhibiting unwarranted price behaviour". In this case, high production will even the price across; and lower production will increases it.…”
Section: The Estimation Modelmentioning
confidence: 99%
“…1; 2016 f) PC j and PC i is the level of output of the commodity normalized by the population in the district. According to Goodwin and Schroeder (1991), low volume markets have "a bigger potential for exhibiting unwarranted price behaviour". In this case, high production will even the price across; and lower production will increases it.…”
Section: The Estimation Modelmentioning
confidence: 99%
“…Granger (1981) proposed the concept of co-integration which states that even though several price time series have unit roots, a linear combination of them would not have a unit root. Since the introduction of co-integration techniques by Engle and Granger (1987), Johansen (1988Johansen ( , 1991Johansen ( , 1994Johansen ( , 1995, Johansen and Juselius (1990), and Goodwin and Schroeder (1991) researchers have applied it on non-stationary data. The Engle and Granger method is basically a bi-variate approach that accommodates relationships only between two price series.…”
Section: Market Integration and Price Transmissionmentioning
confidence: 99%
“…Consequently Ardeni (1989), Goodwin and Schroeder (1991), Mohanty et al (1995), Diakosavvas (1995), Mohanty et al (1996), and Ghoshray, Lloyd and Rayner (2000).…”
Section: Modeling the Mean And Volatility Of Irish Grain Pricesmentioning
confidence: 97%