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Market Integration for Shrimp and the Effect of Catastrophic Events

Author

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  • Harri, Ardian
  • Muhammad, Andrew
  • Jones, Keithly G.

Abstract

Seasonal unit-root testing and seasonal cointegration methods are employed to investigate the price transmission in U.S. shrimp markets. ARIMA and Vector Error Correction Models (VECM) are used to identify the effect of catastrophic events on individual price series in one region and the spillover effects in the price series for other regions. Results showed that a cointegrating relation exists between neighboring states, specifically between Alabama and Mississippi and Louisiana and Texas. Cointegrating relations also exist between the Gulf States and the Pacific region, but not the Atlantic region, and the price of imported shrimp is cointegrated with each of the domestic shrimp price series. Finally, while Katrina had an effect on shrimp prices in Gulf States, the effect was not long lasting.

Suggested Citation

  • Harri, Ardian & Muhammad, Andrew & Jones, Keithly G., 2010. "Market Integration for Shrimp and the Effect of Catastrophic Events," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61585, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea10:61585
    DOI: 10.22004/ag.econ.61585
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    Keywords

    Marketing; Risk and Uncertainty;

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