During the late 1980s, Norwegian salmon farmers had a market share of over 50% for farmed salmon in the USA. In 1991 a countervailing duty and an anti-dumping duty were imposed on Norwegian exports of farmed salmon to the US which basically closed the market for Norwegian salmon. The primary aim...

Relationships between prices of goods have held interest within economics in at least two areas - market integration and product aggregation. There is a close relationship between market integration and aggregation, although this has not received much attention in the more recent literature....

The purpose of this paper is to test for price parity across different species of whitefish in the European Union. Price parity is defined by a system of cointegrated prices and would be evidence of a single European market for whitefish. Whitefish are of interest because EU fishers receive the...

In this paper we investigate the time-varying relationship between oil and natural gas in the UK. We develop a model where relative prices can move between pricing-regimes; markets switch between being decoupled and integrated. Our model endogenously accounts for periods where oil and natural...

This paper examines the price transmission mechanisms between domestic ethanol and imported ethanol in the US market using a multivariate Johansen approach. The data and model support one cointegrating relationship between the prices of domestically produced ethanol, imported ethanol, and other...

During the last decade, Value-at-Risk (VaR) has become the most common tool to measure the exposure to short term financial risk for companies in the oil industry, in common with most other sectors. However, VaR has been criticized after the financial crisis for providing too optimistic risk...

Does international trade make all parties better off? We study the relationship between food security and the international trade of fish and seafood between developing and developed countries. Specifically, we look at and discuss the evolution of trade flows – values, quantities, and prices...