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Evaluating International Price Relationships Using Causal Models

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  • Blank, Steven C

Abstract

This study proposes and evaluates a new procedure for use in the analysis of both interna tional and domestic agricultural markets and prices. The method combi nes causality tests and path analysis. Causal models of international prices of dairy products are presented as empirical examples. As exp ected, the models indicate that butter pricing is more competitive th an that for cheese, which has a more oligopolistic market. Also, ther e are two export supply regions, with the northern region (Europe) do minating the southern region (New Zealand and Australia). Copyright 1987 by Oxford University Press.

Suggested Citation

  • Blank, Steven C, 1987. "Evaluating International Price Relationships Using Causal Models," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 14(3), pages 305-323.
    • Handle: RePEc:oup:erevae:v:14:y:1987:i:3:p:305-23
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    1. Pierce, David A. & Haugh, Larry D., 1977. "Causality in temporal systems : Characterization and a survey," Journal of Econometrics, Elsevier, vol. 5(3), pages 265-293, May.
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