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Seasonality and spatial integration in agricultural (product) markets

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  • George P. Zanias

Abstract

The recent testing approaches of the ‘Law of One Price’ which ate based on co‐integration analysis are modified by incorporating the seasonal components of the agricultural price series into the testing procedure. Application of the modified testing approach to the soft wheat market of live European Union member stales produces mixed results as some of the markets turn out to be integrated while in some cases a unified market cannot be assumed. I hese results differ in some cases from those obtained by co‐integration tests which ignore seasonal unit roots.

Suggested Citation

  • George P. Zanias, 1999. "Seasonality and spatial integration in agricultural (product) markets," Agricultural Economics, International Association of Agricultural Economists, vol. 20(3), pages 253-262, May.
    • Handle: RePEc:bla:agecon:v:20:y:1999:i:3:p:253-262
    DOI: 10.1111/j.1574-0862.1999.tb00571.x
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    Cited by:

    1. Wang, Lu & Wu, Rui & Ma, WeiChun & Xu, Weiju, 2023. "Examining the volatility of soybean market in the MIDAS framework: The importance of bagging-based weather information," International Review of Financial Analysis, Elsevier, vol. 89(C).
    2. Madhusudan Ghosh, 2011. "Agricultural Policy Reforms And Spatial Integration Of Food Grain Markets In India," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 36(2), pages 15-37, June.
    3. repec:ipg:wpaper:2014-412 is not listed on IDEAS
    4. Jian Yang & Jin Zhang & David J. Leatham, 2003. "Price and Volatility Transmission in International Wheat Futures," Annals of Economics and Finance, Society for AEF, vol. 4(1), pages 37-50, May.
    5. Madhusudan Ghosh, 2010. "Spatial Price Linkages in Regional Food Grain Markets in India," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 4(4), pages 495-516, November.
    6. Florine Livat, 2007. "Mesure des interactions de prix : une analyse des modalités de substitution parmi sept vins de Bordeaux," Économie et Prévision, Programme National Persée, vol. 180(4), pages 127-145.

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