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Empirical Analysis Of Agricultural Commodity Prices: A Viewpoint

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  • Tomek, William G.
  • Myers, Robert J.

Abstract

Numerous models of price-demand-supply behavior in agricultural markets have been proposed and estimated. The literature contains valuable contributions, but the cumulative effect is somewhat disappointing. This paper appraises the status of the price analysis literature and makes suggestions for improving the quality of empirical results. Both structural and time-series models are appraised.

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File URL: http://purl.umn.edu/6847
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Bibliographic Info

Paper provided by Cornell University, Department of Applied Economics and Management in its series Working Papers with number 6847.

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Date of creation: 1993
Date of revision:
Handle: RePEc:ags:cudawp:6847

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Keywords: Demand and Price Analysis; Research Methods/ Statistical Methods;

References

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  1. Baumes, Harry S. Jr & Womack, Abner W., 1979. "Price Equilibrium Or Price Disequilibrium In The Corn Sector," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, Northeastern Agricultural and Resource Economics Association, vol. 8(2:), October.
  2. Williams,Jeffrey C. & Wright,Brian D., 2005. "Storage and Commodity Markets," Cambridge Books, Cambridge University Press, number 9780521023399, 9.
  3. Bernanke, Ben S., 1986. "Alternative explanations of the money-income correlation," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 25(1), pages 49-99, January.
  4. Alston, Julian M. & Chalfant, James A., 1991. "Can We Take The Con Out Of Meat Demand Studies?," Western Journal of Agricultural Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 16(01), July.
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Citations

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Cited by:
  1. Hikaru Hanawa Peterson & William G. Tomek, 2005. "How much of commodity price behavior can a rational expectations storage model explain?," Agricultural Economics, International Association of Agricultural Economists, vol. 33(3), pages 289-303, November.
  2. Fortenbery, T. Randall & Park, Hwanil, 2008. "The Effect of Ethanol Production on the U.S. National Corn Price," Staff Paper Series 523, University of Wisconsin, Agricultural and Applied Economics.
  3. Tomek, William G. & Peterson, Hikaru Hanawa, 2000. "Risk Management In Agricultural Markets: A Survey," 2000 Producer marketing and Risk Management Conference, January 13-14, Orlando, FL 19580, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. Diebold, Francis X. & Lamb, Russell L., 1997. "Why are estimates of agricultural supply response so variable?," Journal of Econometrics, Elsevier, Elsevier, vol. 76(1-2), pages 357-373.
  5. Du, Wen, 2004. "International Market Integration Under Wto: Evidence In The Price Behaviors Of Chinese And Us Wheat Futures," 2004 Annual meeting, August 1-4, Denver, CO 20115, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  6. Vasciaveo, M. & Rosa, F. & Weaver, R., 2013. "Agricultural market integration: price transmission and policy intervention," 2013 Second Congress, June 6-7, 2013, Parma, Italy, Italian Association of Agricultural and Applied Economics (AIEAA) 149887, Italian Association of Agricultural and Applied Economics (AIEAA).
  7. Eduardo López E. & Francisco Meneses P. & Felipe Córdova F. & M. Carolina Grünwald N., 2008. "Comportamiento del Precio Internacional de Granos Seleccionados y su Impacto en la Inflación," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 11(1), pages 119-129, April.
  8. Park, Hwanil & Fortenbery, T. Randall, 2007. "The Effect of Ethanol Production on the U.S. National Corn Price," 2007 Conference, April 16-17, 2007, Chicago, Illinois, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management 37565, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  9. Peterson, Hikaru Hanawa & Tomek, William G., 2001. "Income-Enhancing And Risk-Reducing Properties Of Marketing Practices," 2001 Annual meeting, August 5-8, Chicago, IL 20613, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  10. Traub, Lulama Ndibongo & Jayne, T.S., 2008. "The effects of price deregulation on maize marketing margins in South Africa," Food Policy, Elsevier, Elsevier, vol. 33(3), pages 224-236, June.
  11. Traub, Lulama Ndibongo & Jayne, Thomas S., 2006. "The Effects of Market Reform on Maize Marketing Margins in South Africa: An Empirical Study," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia, International Association of Agricultural Economists 25635, International Association of Agricultural Economists.
  12. Alain McLaren, 2013. "Asymmetry in price transmission in agricultural markets," Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva, Institut d'Economie et Econométrie, Université de Genève 13102, Institut d'Economie et Econométrie, Université de Genève.
  13. Myers, Robert J., 1994. "Time Series Econometrics and Commodity Price Analysis: A Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 62(02), August.
  14. Park, Timothy A. & Gubanova, Tatiana & Lohr, Luanne & Escalante, Cesar L., 2005. "Forecasting Organic Food Prices: Testing and Evaluating Conditional Predictive Ability," 2005 Annual meeting, July 24-27, Providence, RI 19412, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  15. Tomek, William G., 2000. "Commodity Prices Revisited," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), October.
  16. Riadh Aloui & Mohamed Safouane Ben Aissa & Duc Khuong Nguyen, 2013. "A wavelet-based copula approach for modeling market risk in agricultural commodity markets," Working Papers 04, Development and Policies Research Center (DEPOCEN), Vietnam.
  17. Gubanova, Tatiana & Lohr, Luanne & Park, Timothy A., 2005. "Forecasting Organic Food Prices: Emerging Methods for Testing and Evaluating Conditional Predictive Ability," 2005 Conference, April 18-19, 2005, St. Louis, Missouri, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management 19045, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  18. Shaun K. Roache, 2012. "China's Impacton World Commodity Markets," IMF Working Papers 12/115, International Monetary Fund.

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