DSpace About DSpace Software
 

DSpace Biblioteca Universidad de Talca (v1.5.2) >
Dirección de Programas de Investigación y Asistencia Técnica (DIAT) >
Artículos en publicaciones ISI - Universidad de Talca >

Please use this identifier to cite or link to this item: http://dspace.utalca.cl/handle/1950/8701

Title: The Chilean wheat market and its price support mechanism: a spatial market integration analysis
Authors: Valdes, R.
Valdes, R.
Diaz-Osorio, J.
von Cramon-Taubadel, S.
Engler, A.
Keywords: co-integration analysis; price band; wheat; cereal prices; international market of commodities; Vector Error Correction Model
Issue Date: 2011
Publisher: UNIV NACIONAL CUYO, FAC CIENCIAS AGRARIAS, ALMIRANTE BROWN 500, CHACRAS DE CORIA, MENDOZA M5528AHB, ARGENTINA
Citation: REVISTA DE LA FACULTAD DE CIENCIAS AGRARIAS Volume: 43 Issue: 2 Pages: 47-58 Published: DEC 2011
Abstract: This research investigates the spatial market integration of the Chilean wheat market in relation with its most representative international markets by using a vector error correction model (VECM) and how a price support policy, as a price band, affect it. The international market was characterized by two relevant wheat prices: PAN from Argentina and Hard Red Winter from the United States. The spatial market integration level, expressed in the error correction term (ECT), allowed concluding that there is a high integration degree among these markets with a variable influence of the price band mechanism mainly related with its estimation methodology. Moreover, this paper showed that Chile can be seen as price taker as long as the speed of its adjustment to international shocks, being these reactions faster than in the United States and Argentina. Finally, the results validated the "Law of the One Price, which assumes price equalization across all local markets in the long run.
Description: Valdes, R (Valdes, Rodrigo)1; Diaz-Osorio, J (Diaz-Osorio, Jose)1; von Cramon-Taubadel, S (von Cramon-Taubadel, Stephan)2; Engler, A (Engler, Alejandra)1 1. Univ Talca, Coll Agr Sci, Dept Agr Econ, Talca, Chile 2. Univ Gottingen, Dept Agr Econ, Gottingen, Germany
URI: http://dspace.utalca.cl/handle/1950/8701
ISSN: 0370-4661
Appears in Collections:Artículos en publicaciones ISI - Universidad de Talca

Files in This Item:

File Description SizeFormat
TEXTO COMPLETO.htm3.56 kBHTMLView/Open

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

 

Valid XHTML 1.0! DSpace Software Copyright © 2002-2009  The DSpace Foundation - Feedback