AN EMPIRICAL-ANALYSIS OF INTERREGIONAL PRICE LINKAGES
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ABSTRACT Vector autoregression models are used to analyze the relationships between Texas and Illinois corn prices, and the New Orleans export price. Decomposition of error variances suggests an increasing exogeneity in the recent years between the export market and the two U.S. markets. Impulse response functions indicate that the export price influences both the Illinois and Texas prices. Copyright 1989, Wiley Blackwell. All rights reserved