The Causality Between U.S.A. and Australian Wheat Prices
It has been generally agreed that Australia is a price follower on the world wheat market. However, to date, this has not been tested empirically. In this paper a transfer function model between prices of U.S.A. wheat and Australian wheat is set up to examine the existence, if any, of a leader-follower relationship. By employing the causality criteria as described by Granger, this analysis is implemented to draw inferences about causality among these wheat prices. Results indicated that a significant leader-follower relationship exists, with the U.S.A. taking the leader role. The results reported are particularly useful for wheat price forecasting work and provide a basis for further modelling work.
Volume (Year): 55 (1987)
Issue (Month): 01 (April)
|Contact details of provider:|| Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200|
Phone: 0409 032 338
Web page: http://www.aares.info/
More information through EDIRC
References listed on IDEAS
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.:
- Chris M. Alaouze & A. S. Watson & N. H. Sturgess, 1978. "Oligopoly Pricing in the World Wheat Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(2), pages 173-185.
- John Spriggs & Michael Kaylen & David Bessler, 1982. "The Lead-Lag Relationship between Canadian and U.S. Wheat Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(3), pages 569-572.
- Grant, Warren R. & Ngenge, Anthony Wawa & Brorsen, B. Wade & Chavas, Jean-Paul, 1983. "Grain Price Interrelationships," Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 1.
When requesting a correction, please mention this item's handle: RePEc:ags:remaae:12313. See general information about how to correct material in RePEc.
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.