We test the economic theory that price differences in spatially separated markets will be equalized through arbitrage activity using time series data on housing frame lumber prices in different regions of the United States. Wildfires, hurricanes, and other extreme weather events, as well as...

Many risk management strategies, including hedging the price risk using forward or futures contracts require accurate forecasts of basis, i.e., spot price minus the futures price. Recent literature in this area has applied nonlinear time-series models, which are refinements of the linear...

We introduce the local farmland market concepts in order to understand the operation of French farmland sale market. We perform an empirical analysis of farmland prices based on farmland sale market in the Bretagne Region of France. The descriptive statistics show that the price of farmer to...

This study examines the dynamic relationship between wholesale and retail prices of beef products, accounting for product differentiation in cuts and quality grades. We test for long-run association in price transmission relationship in presence of asymmetry caused by threshold-type adjustments....

Market integration has been widely studied in the past to gain a better understanding of how different markets for the same good interact with one another. Traditional cointegration tests have been used to perform these analyses; however, these tests can only reveal the presence of stable or...

The US held the largest share in the Japanese sorghum market for 20 years. However, in recent years Australia’s share of the same market has been constantly growing to claim the top position despite the fact that the US sorghum price is cheaper in that country. The ratio of US vs Australian...