On Prices Of Fresh And Frozen Cod Fish In European And U.S. Markets
AbstractThe purpose of this paper is to test for price linkages among European (France, Germany, and U.K.) and U.S. prices of whole fresh cod and frozen cod fillets. In testing for a cointegrated system, we use both the two-stage Engle-Granger and Johansen procedures. Short-run price dynamics are measured using an error-correction model. Based on monthly import price observations from 1980 to 1992, the empirical results show no long-run price relationships for fresh cod between European and U.S. markets, but we do measure long-run price linkages for frozen cod fillets. Within Europe the markets for both fresh and frozen cod product are well integrated. The U.S. fresh cod market is distinct and separate from European markets, while the U.S. frozen cod market shows no short-run links to European markets. There is weak evidence for a long-run international market in frozen cod fillets.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 11 (1996)
Issue (Month): 4 ()
Contact details of provider:
Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Resource /Energy Economics and Policy;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
- David A. Dickey & Dennis W. Jansen & Daniel L. Thornton, 1991. "A primer on cointegration with an application to money and income," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 58-78.
- Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
- Andrew McKenzie & Matthew Holt, 2002.
"Market efficiency in agricultural futures markets,"
Taylor & Francis Journals, vol. 34(12), pages 1519-1532.
- McKenzie, Andrew M. & Holt, Matthew T., 1998. "Market Efficiency In Agricultural Futures Markets," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20933, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Ramòn Jiménez-Toribio & Patrice Guillotreau & Rémi Mongruel, 2009. "Global integration of European tuna markets," Working Papers hal-00430014, HAL.
- Guttormsen, Atle G. & Roll, Kristin H., 2011. "Technical Efficiency in a Heterogeneous Fishery: The Case of Norwegian Groundfish Fisheries," Marine Resource Economics, Marine Resources Foundation, vol. 26(4).
- Helstad, Kjetil & Vassdal, Terje & Trondsen, Torbjorn & Young, James A., 2005. "Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997Â–2003)," Marine Resource Economics, Marine Resources Foundation, vol. 20(3).
- Nielsen, Max, 2005. "Price Formation and Market Integration on the European First-hand Market for Whitefish," Marine Resource Economics, Marine Resources Foundation, vol. 20(2).
- Homans, Frances R. & Wilen, James E., 2005. "Markets and rent dissipation in regulated open access fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 381-404, March.
- Vinuya, Ferdinand D., 2006. "Testing for Market Integration and the Law of One Price in World Shrimp Markets," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35351, Southern Agricultural Economics Association.
- Lisbeth la Cour & H. MÃ¸llgaard, 2002. "Market Domination: Tests Applied to the Danish Cement Industry," European Journal of Law and Economics, Springer, vol. 14(2), pages 99-127, September.
- Andrew Muhammad & Terrill R. Hanson, 2009. "The importance of product cut and form when estimating fish demand: the case of U.S. Catfish," Agribusiness, John Wiley & Sons, Ltd., vol. 25(4), pages 480-499.
- Asche, Frank & Gordon, Daniel V. & Hannesson, Rognvaldur, 1998. "Price Founded Tests For Market Integration: Fish Markets In France," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20904, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Asche, Frank & Hannesson, Rognvaldur, 2002. "Allocation Of Fish Between Markets And Product Forms," Marine Resource Economics, Marine Resources Foundation, vol. 17(3).
- Gordon, Daniel V. & Hannesson, Rognvaldur & Kerr, William A., 2001. "Of fish and whales: the credibility of threats in international trade disputes," Journal of Policy Modeling, Elsevier, vol. 23(1), pages 83-98, January.
- Asche, Frank & Roll, Kristin H & Trollvik, Trine, 2009. "New aquaculture species. Entering the whitefish market," UiS Working Papers in Economics and Finance 2009/21, University of Stavanger.
- Asche, Frank & Gordon, Daniel V. & Hannesson, Rognvaldur, 2004. "Tests For Market Integration And The Law Of One Price: The Market For Whitefish In France," Marine Resource Economics, Marine Resources Foundation, vol. 19(2).
- Homans, Frances R. & Wilen, James E., 2000. "Market Rent Dissipation In Regulated Open Access Fisheries," 2000 Annual meeting, July 30-August 2, Tampa, FL 21878, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.