In the Philippines, where rice is considered the most important food crop, attempts to influence rice prices have been prevalent. The government, through National Food Authority (NFA) has sought to establish stocks and control imports to stabilize prices since its establishment in 1972 to...

This study highlights some problems with using the Johansen cointegration statistics on data containing a negative moving average (NMA) in the error term of the data generating process. We use a Monte Carlo experiment to demonstrate that the asymptotic distribution of the Johansen cointegration...