We reconsider the issue of price discovery in spot and futures markets. We use a threshold error correction model to … modify the model to account for time-varying transaction costs. We find that the futures market leads in the process of price …

With this paper, we provide the first quantitative investigation of vertical price transmission in the biodiesel supply …. The effects of both the market development and different policies on price transmission are analyzed in detail. Due to the …. Evidence was found for a strong impact of crude oil price on biodiesel prices, and of biodiesel prices on rapeseed oil prices …