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Searching for price parity in the European whitefish market

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  • Frank Asche
  • Daniel Gordon
  • Rognvaldur Hannesson

Abstract

The purpose of this paper is to test for price parity across different species of whitefish in the European Union. Price parity is defined by a system of cointegrated prices and would be evidence of a single European market for whitefish. Whitefish are of interest because EU fishers receive the largest share of their income from these fish species. Notwithstanding the single market policy of the EU, by establishing national and regional associations to stabilize or increase the local price of fish, fishers operate as if the European market is made up of separate submarkets with price being determined largely within each submarket. If whitefish markets were price cointegrated such associations would be largely ineffective. In that case, what are required are regulations that encompass the European market.

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  • Frank Asche & Daniel Gordon & Rognvaldur Hannesson, 2002. "Searching for price parity in the European whitefish market," Applied Economics, Taylor & Francis Journals, vol. 34(8), pages 1017-1024.
    • Handle: RePEc:taf:applec:v:34:y:2002:i:8:p:1017-1024
    DOI: 10.1080/00036840110061965
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    Cited by:

    1. Ochieng', Otieno Geoffrey, 2010. "Effect of Value Addition on Price: A Hedonic Analysis of Peanut in Retail Supermarkets in Nairobi, Kenya," Research Theses 134495, Collaborative Masters Program in Agricultural and Applied Economics.
    2. Pettersen, Ingrid Kristine & Brækkan, Eivind Hestvik & Myrland, Øystein, 2018. "Are Norwegian fishermen selling in the same market?," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 9-18.
    3. Pascal Le Floc'h & Iuliana Matei & Mehmet Tuncel, 2012. "Commercial Sizes and Prices on the French Monkfish Fishery :A Time-Series Analysis," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 55(1), pages 97-115.
    4. Frank Asche & Andreea L. Cojocaru & Ruth B. M. Pincinato & Kristin H. Roll, 2020. "Production Risk in the Norwegian Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 75(1), pages 137-149, January.
    5. Anderson, James L. & Asche, Frank & Garlock, Taryn, 2018. "Globalization and commoditization: The transformation of the seafood market," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 2-8.
    6. Guillotreau, Patrice & Jiménez-Toribio, Ramón, 2011. "The price effect of expanding fish auction markets," Journal of Economic Behavior & Organization, Elsevier, vol. 79(3), pages 211-225, August.
    7. Cecilia Hammarlund, 2015. "The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 157-177.
    8. Asche, Frank & Zhang, Dengjun, 2013. "Testing Structural Changes in the U.S. Whitefish Import Market: An Inverse Demand System Approach," Agricultural and Resource Economics Review, Cambridge University Press, vol. 42(3), pages 453-470, December.
    9. Frank Asche & Julia Bronnmann, 2017. "Price premiums for ecolabelled seafood: MSC certification in Germany," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 61(4), pages 576-589, October.
    10. Ana Norman-Lόpez & Sean Pascoe & Olivier Thébaud & Ingrid Putten & James Innes & Sarah Jennings & Alistair Hobday & Bridget Green & Eva Plaganyi, 2014. "Price integration in the Australian rock lobster industry: implications for management and climate change adaptation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(1), pages 43-59, January.
    11. Esther Régnier & Basak Bayramoglu, 2016. "Competition between farmed and wild fish: the French sea bass and sea bream markets," Post-Print hal-01365962, HAL.
    12. Ramòn Jiménez-Toribio & Patrice Guillotreau & Rémi Mongruel, 2009. "Global integration of European tuna markets," Working Papers hal-00430014, HAL.
    13. Frank Asche & Atle G. Guttormsen & Tom Sebulonsen & Elin H. Sissener, 2005. "Competition between farmed and wild salmon: the Japanese salmon market," Agricultural Economics, International Association of Agricultural Economists, vol. 33(3), pages 333-340, November.
    14. Sogn-Grundvåg, Geir & Zhang, Dengjun, 2023. "Commodities failing in auctions: The story of unsold cod in Norway," Journal of Commodity Markets, Elsevier, vol. 29(C).
    15. 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.
    16. Dahl, Roy Endré & Jonsson, Erlendur, 2018. "Volatility spillover in seafood markets," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 44-59.
    17. Frank Asche & Rui Menezes & Joaõ Dias, 2007. "Price transmission in cross boundary supply chains," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 34(5), pages 477-489, December.
    18. Kehar Singh & Madan M. Dey & Prasanna Surathkal, 2014. "Seasonal and Spatial Variations in Demand for and Elasticities of Fish Products in the United States: An Analysis Based on Market-Level Scanner Data," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 62(3), pages 343-363, September.
    19. Javier García-Enríquez & Josu Arteche & Arantza Murillas-Maza, 2017. "Testing for substitutability in the mackerel market: a new method using fractional cointegration," Applied Economics, Taylor & Francis Journals, vol. 49(39), pages 3912-3926, August.
    20. Frank Asche & Shabbar Jaffry & Jessica Hartmann, 2007. "Price transmission and market integration: vertical and horizontal price linkages for salmon," Applied Economics, Taylor & Francis Journals, vol. 39(19), pages 2535-2545.
    21. Pettersen, Ingrid K. & Myrland, Øystein, 2016. "A cod is a cod, but is it a commodity?," Journal of Commodity Markets, Elsevier, vol. 3(1), pages 70-75.
    22. Basak Bayramoglu, 2019. "Price interactions between wild and farmed products: Turkish sea bass and sea bream markets," Post-Print hal-02171431, HAL.
    23. Asche, Frank & Cojocaru, Andreea L. & Gaasland, Ivar & Straume, Hans-Martin, 2018. "Cod stories: Trade dynamics and duration for Norwegian cod exports," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 71-79.
    24. Gordon, Daniel V., 2018. "Country of origin growth modelling for imported salted & dried (Klippfisk) products to Brazil," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 31-43.

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