Market Integration: Case Studies of Structural Change
The grain/oilseed industry is undergoing considerable structural change through mergers and new value-added businesses, which raises price-related questions. We analyze the level of price integration prior to and following a merger between two grain firms and the start-up of a producer-owned ethanol facility. This research utilizes error correction vector autoregression analysis to compute market integration structural change effects. We find evidence that market integration initially increases with the merger, but deteriorates with time following the merger. We find no significant localized change in the level of price integration for the case of a new value-added business.
Volume (Year): 34 (2005)
Issue (Month): 2 (October)
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- Goodwin, Barry K. & Piggott, Nicholas E., 1999.
"Spatial Market Integration In The Presence Of Threshold Effects,"
1999 Annual meeting, August 8-11, Nashville, TN
21489, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
- Schroeder, Ted C., 1997. "Fed Cattle Spatial Transactions Price Relationships," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(02), December.
- Dixon, R J, 1983. "Industry Structure and the Speed of Price Adjustment," Journal of Industrial Economics, Wiley Blackwell, vol. 32(1), pages 25-37, September.
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