Price Formation and Market Integration on the European First-hand Market for Whitefish

Nielsen, Max

doi:10.1086/mre.20.2.42629468

Cited by 76 publications

(55 citation statements)

References 14 publications

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“…This can be performed by applying a likelihood-ratio test of restrictions on the parameters in β. While cointegration identifies market boundaries, LOP specifies market inter-dependencies (Nielsen, 2005). If the pairwise cointegration test reveals a common stationary trend and the LOP test is validated, then the relative price of the goods is constant and markets are perfectly integrated.…”

Section: The Concept Of Cointegration As a Market Delineation Approachmentioning

confidence: 99%

Competition between farmed and wild fish: The French sea bass and sea bream markets

Régnier

Bayramoglu

2016

Aquaculture Economics & Management

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Aquaculture is contributing at an increasing rate to world seafood supply. The interaction between fisheries and aquaculture is especially important for the seafood market where supply of wild and farmed fish can affect price dynamics. We examine market interactions in the French fresh sea bass and sea bream markets. We test for long term price parity between farmed and wild products for these two species, applying a bivariate cointegration approach to market delineation. We also conduct the Law of One Price (LOP) test between price series.Our data base consists of monthly domestic price series for fish purchased by French households from 2007 to 2012. Our empirical results show that the fresh fish markets for whole wild and farmed sea bream are partially integrated, while those for whole wild and farmed sea bass are not integrated. The substantially higher price for wild sea bass relative to farmed sea bass suggests that consumers may be more sensitive to seafood production processes in higher-value species.

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Section: The Concept Of Cointegration As a Market Delineation Approachmentioning

confidence: 99%

Competition between farmed and wild fish: The French sea bass and sea bream markets

Régnier

Bayramoglu

2016

Aquaculture Economics & Management

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“…These results indicate that frozen trout and fresh cod with inflexible prices might be part of a larger European whitefish market, where these species form only a marginal share (Nielsen et al 2007;Nielsen 2005). The elastic price of fresh trout further suggests that fresh trout is sold at a relatively separate market, although with redfish as a substitute.…”

Section: Resultsmentioning

confidence: 92%

Causality in demand: a co-integrated demand system for trout in Germany

Nielsen

Jensen

Setälä³

et al. 2011

Applied Economics

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“…Valgan como ejemplo los estudios sobre el mercado del arroz (Silvapulle y Jayasuriya, 1994), los cereales (Gil et al, 1996), el maíz (Abdulai, 2000), la carne de cerdo y cordero (Sanjuan y Gil, 2001), el algodón (Baffes y Ajwad, 2001), las hortalizas de invernadero (Martínez-Carrasco, 2004), el pescado blanco en Europa (Nielsen, 2005) o el mercado internacional del azúcar (Alonso y Arcila, 2012). Entre los trabajos citados se encuentran las principales aplicaciones del estudio de integración de precios y mercados a productos agroalimentarios en España.…”

Section: Materials Y Métodosunclassified

Integración espacial en el mercado europeo de aceite de oliva

Casas¹,

Palomares²,

Paz³

2013

ITEA

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ResumenEl objetivo de este trabajo es el estudio de la integración espacial del mercado europeo del aceite de oliva, a partir de los niveles de precios de los tres principales productores y comercializadores del producto a nivel mundial (España, Italia y Grecia) entre 1961 y 2007. El análisis se lleva a cabo aplicando la técnica multivalente de cointegracion, identificando tanto relaciones a corto como a largo plazo. Los resultados del análisis de precios muestran que esos mercados de aceite de oliva están altamente integrados, con una transmisión de precios completa de precios a largo plazo, resultando Italia el mercado líder, pese a que la producción española sea con diferencia la más elevada.Palabras clave: Aceite de oliva, cointegración, integración de mercados, series de precios. Abstract Spatial Integration of the European Olive Oil MarketThe aim of this paper is to study the spatial integration of the European olive oil market, from the prices of the three main producers and traders in the world (Spain, Italy and Greece) between 1961 and 2007. The analysis is carried out using multivariate cointegration techniques, identifying the short-run and the long-run relationships. The empirical results show that the three olive oil markets are highly integrated, with a complete price transmission in the long run. They also suggest that Italy is the leader market being Spain the main producer.

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Price Formation and Market Integration on the European First-hand Market for Whitefish

Cited by 76 publications

References 14 publications

Competition between farmed and wild fish: The French sea bass and sea bream markets

Competition between farmed and wild fish: The French sea bass and sea bream markets

Causality in demand: a co-integrated demand system for trout in Germany

Integración espacial en el mercado europeo de aceite de oliva

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