data. Making use of the suggested ordering, bilateral Tornqvist price and quantity indexes are calculated and multilateral … trade differences, factor endowments differences and domestic output price differences. The newly formed indexes are base …

among prices from major wheat producing regions: Canada, the European Union, Argentina, Australia, and the United States. An … ambiguity related to the cyclic or acyclic flow of information between Canada and Australia is uncovered. We condition our … analysis on the assumption that information flow is acyclic. The empirical results show that Canada and the U.S. are leaders in …