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Assessing the Validity of the LOP in the EU Broiler Markets

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  • Christos J. Emmanouilides
  • Panos Fousekis

Abstract

ABSTRACT The objective of this article is to assess the validity of the Law of One Price (LOP) in five major EU broiler markets. This has been pursued using weekly price data from 1991 to 2012 and recent developments in econometric methodology that account simultaneously for nonstationarity, nonlinearity, and structural breaks. The empirical results provide strong evidence that the LOP holds, predominantly in its weak version. This implies that shocks are fully transmitted from one spatial market to the others, but price differences among them are likely to persist even in the long‐run.

Suggested Citation

  • Christos J. Emmanouilides & Panos Fousekis, 2015. "Assessing the Validity of the LOP in the EU Broiler Markets," Agribusiness, John Wiley & Sons, Ltd., vol. 31(1), pages 33-46, January.
    • Handle: RePEc:wly:agribz:v:31:y:2015:i:1:p:33-46
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    File URL: http://hdl.handle.net/10.1002/agr.21386
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    Cited by:

    1. Dimitrios Panagiotou & Athanassios Stavrakoudis, 2023. "Price dependence among the major EU extra virgin olive oil markets: a time scale analysis," Review of Agricultural, Food and Environmental Studies, Springer, vol. 104(1), pages 1-26, March.
    2. Marcin Pigłowski, 2021. "The Intra-European Union Food Trade with the Relation to the Notifications in the Rapid Alert System for Food and Feed," IJERPH, MDPI, vol. 18(4), pages 1-19, February.
    3. Bakucs, Zoltan & Ferto, Imre & Benedeka, Zsofia & Molnar, Adrienn, 2015. "Determinants of Horizontal Milk Producer Price Integration," 2015 Conference, August 9-14, 2015, Milan, Italy 212042, International Association of Agricultural Economists.

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