IDEAS home Printed from https://ideas.repec.org/p/bir/birmec/05-06.html
   My bibliography  Save this paper

Long Run Relationship and Structural Change Between the US and EU Wheat Export Prices

Author

Listed:
  • Marco Barassi
  • Atanu Ghoshray

Abstract

This paper studies the long run price relationships between two major wheat exporters in the world wheat market. Since the emergence of the EU as a major wheat exporter, the competition between the EU and the US has been fierce for a larger share of world wheat exports. One would expect through arbitrage and substitution the price of EU and US wheat would move together. Time series analysis is used to obtain information regarding the long run relationship between the US and the EU wheat prices. The results provide evidence of no linkages in the period prior to the implementation of the CAP reform. However, clear evidence of a long run relationship is found after the CAP reforms were implemented. In the long run the US soft wheat price seems to be acting as price leader for EU wheat. These results provide evidence that the EU and US wheat markets have apparently become more integrated in the post 1992 CAP reform period with EU prices showing a steady convergence towards US prices which may be a result of policy reform.

Suggested Citation

  • Marco Barassi & Atanu Ghoshray, "undated". "Long Run Relationship and Structural Change Between the US and EU Wheat Export Prices," Discussion Papers 05-06, Department of Economics, University of Birmingham.
  • Handle: RePEc:bir:birmec:05-06
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Goetz, Linde & Glauben, Thomas & Brümmer, Bernhard, 2010. "Impacts of Export Controls On Wheat Markets During the Food Crisis 2007/2008 in Russia and Ukraine," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61626, Agricultural and Applied Economics Association.
    2. Goetz, Linde & Glauben, Thomas & Brümmer, Bernhard, 2010. "How Did Policy Interventions In Wheat Export Markets In Russia And Ukraine During The Food Crisis 2007/2008 Influence World Market Price Transmission?," 50th Annual Conference, Braunschweig, Germany, September 29-October 1, 2010 93952, German Association of Agricultural Economists (GEWISOLA).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bir:birmec:05-06. 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: (Oleksandr Talavera). General contact details of provider: http://edirc.repec.org/data/debhauk.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.