This paper examines price integration in the MERCOSUR countries of Argentina and Brazil after the creation of this regional economic agreement using a fractional cointegration analysis. The results suggest that Argentine wheat and corn prices are fully cointegrated with the corresponding world...

This study examines the Law of One Price (LOP) in international commodity markets using fractional cointegration analysis. For proper evaluation of the LOP, fractional cointegration analysis seems to be appropriate because of its flexibility in capturing a wider range of mean reversion behavior...

This paper presents a dynamic model of a processing cooperative in which patronage refunds are taken into consideration by producers in making marketing decisions and by the cooperative in establishing pricing strategies. An adaptive expectations framework is used to represent the formation of...