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Pricing to Market, (Seasonal) Cointegration and US Agricultural Exports

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  • Xu, Yun
  • Sheldon, Ian M.

Abstract

In this paper, we examine whether US exporters of agricultural commodities price to market. Specifically, we estimate the fixed-effects model of Knetter (1989; 1995), and alternative specifications based on the use of cost indices, and seasonal and vector error correction models that account for the time-series properties of the data.

Suggested Citation

  • Xu, Yun & Sheldon, Ian M., 2005. "Pricing to Market, (Seasonal) Cointegration and US Agricultural Exports," 2005 Annual meeting, July 24-27, Providence, RI 19377, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea05:19377
    DOI: 10.22004/ag.econ.19377
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    References listed on IDEAS

    as
    1. Paul Krugman, 1986. "Pricing to Market when the Exchange Rate Changes," NBER Working Papers 1926, National Bureau of Economic Research, Inc.
    2. Daniel H. Pick & Timothy A. Park, 1991. "The Competitive Structure of U.S. Agricultural Exports," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(1), pages 133-141.
    3. Hylleberg, S. & Engle, R. F. & Granger, C. W. J. & Yoo, B. S., 1990. "Seasonal integration and cointegration," Journal of Econometrics, Elsevier, vol. 44(1-2), pages 215-238.
    4. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1243-1272, September.
    5. Lof, Marten & Lyhagen, Johan, 2002. "Forecasting performance of seasonal cointegration models," International Journal of Forecasting, Elsevier, vol. 18(1), pages 31-44.
    6. Joseph Beaulieu, J. & Miron, Jeffrey A., 1993. "Seasonal unit roots in aggregate U.S. data," Journal of Econometrics, Elsevier, vol. 55(1-2), pages 305-328.
    7. Engle, R. F. & Granger, C. W. J. & Hylleberg, S. & Lee, H. S., 1993. "The Japanese consumption function," Journal of Econometrics, Elsevier, vol. 55(1-2), pages 275-298.
    8. Brown, Jennifer, 2001. "Price Discrimination and Pricing to Market Behavior of Canadian Canola Exports," SS-AAEA Journal of Agricultural Economics, Agricultural and Applied Economics Association, pages 1-17.
    9. Carew, Richard, 2000. "Pricing To Market Behavior: Evidence From Selected Canadian And U.S. Agri-Food Exports," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 25(2), pages 1-18, December.
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    International Relations/Trade;

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