Analysts often use a single average or otherwise aggregated price series to represent several geographic or product markets even when disaggregate data are available. We hypothesize that such an approach may not be appropriate under some circumstances, such as when only long-term relationships...

This study applies an Error Correction Model to identify the market integration and price transmission between the grower price and the world price in Colombia and Vietnam, with an emphasis on the price long-run relationship and short-run adjustment across coffee varieties. The results show that...

The analysis of technical efficiency (TE) on the small-scale fishery is relevant for several reasons. While this type of fishery is highly common in developing countries like Mexico, there are a very limited number of analyses assessing their efficiency. Indeed, there is no precise information...

The recent global financial crisis and the subsequent economic recession have revitalized the discussion on the causal relationship between financial and economic sectors. This study examines financial and economic indices developed by the Federal Reserve Banks of Kansas City and Chicago,...

A modified Central Bureau of Statistics (CBS) differential model was used to provide the first estimate of South Africa’s meat import demand system. In addition to price and scale the model also included a trend and trend-squared term to measure changes in technology and/or consumer demands...

A partial-observability model finds evidence of racial discrimination by retailers of consumer durables in apartheid South Africa. In particular, black households are 13 percentage points more likely to demand a hire/purchase loan but not to have one supplied than are other households, all else...

This paper reconsiders the implications of efficient markets for transmission of price volatility across markets. Tests of volatility transmission are based on conditional variances. Results are reported for key grain and beef markets. Transmission across cash, futures, and options is considered.