Fecha/hora: 13/06/2024 05:17:42

Biblioteca(s): | INIA Las Brujas.
Fecha corriente: | 06/06/2019
Fecha de la última actualización: | 06/06/2019
Autoria: | LANFRANCO, B.; FERRARO, B.; ROSTÁN, F.
Afiliación: | BRUNO ANTONIO LANFRANCO CRESPO, INIA (Instituto Nacional de Investigación Agropecuaria), Uruguay; BRUNO FERRARO ALBERTONI, INIA (Instituto Nacional de Investigación Agropecuaria), Uruguay; FRANCISCO ROSTÁN, Investigador Independiente.
Título: | Cointegration and price linkages in the MERCOSUR beef cattle markets.
Año de publicación: | 2019
Fuente/Imprenta: | International Journal of Food and Agricultural Economics, 2019, Vol. 7, No. 2, pp. 159-174.
ISSN: | 2147-8988 / E-ISSN: 2149-3766
Idioma: | Inglés

Contenido:

ABSTRACT.
This research provides empirical evidence of the degree of integration of Mercosur region beef cattle markets with the international market. Prices for six spatially distinct cattle markets located in the four countries were analyzed using a fractional cointegration approach. The analysis included the computation of fractional integration parameters and the error term of the cointegration equations. The null hypothesis of ?separate markets? could not be rejected in any of the cases. This conclusion is absolute for Argentina; there is strong evidence of separate markets with Uruguay, which was chosen as a proxy of the international market. For Brazil and Paraguay, empirical results may suggest a weak degree of market integration but not enough to reject the null hypothesis. Despite the common price and industry trends in the
different markets, their responses to specific price shocks were dissimilar and, most importantly, the reversion of the prices to equilibrium was always slow

Palabras-Clave: | CATTLE PRICES; ECONOMIC BLOC; FRACTIONAL COINTEGRATION; MARKET INTEGRATION; THE LAW OF ONE PRICE.
Categoría del tema: | E10 Economía y políticas agrícolas

URL:

http://www.ainfo.inia.uy/digital/bitstream/item/12785/1/Vol7.No2.pp159.pdf
http://www.foodandagriculturejournal.com/Vol7.No2.pp159.pdf

Registro original: | INIA Las Brujas (LB)
Ejemplares: | LB - (101834-1) - PXI - AP - DD - PP/IJFAE/2019 -  -  - DIS