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A multivariate approach for identification of optimal locations with in Ethiopia’s wheat market to tackle soaring inflation on food price

  • Mezgebo, Taddese

Two surplus markets of Bale Robe and Shashimiene and one deficit market of Jimma are observed to fix long run price. However the system is observed to have better capacity to process demand side than supply side shocks. Therefore for efficient stabilization the focus should be in Jimma. For equity and political feasibility it would be preferable if poor deficit centers are provided with subsidized supply of grain, too. Though distance did not seem to be an important factor for border of one price but only for strength of cointegration, the methodology used by early papers is observed to work.

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File URL: https://mpra.ub.uni-muenchen.de/22037/1/MPRA_paper_22037.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 18663.

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Date of creation: 14 Nov 2009
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Handle: RePEc:pra:mprapa:18663
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  1. Dietmar Maringer & Peter Winker, 2004. "Optimal Lag Structure Selection in VEC-Models," Computing in Economics and Finance 2004 155, Society for Computational Economics.
  2. Chao, John C. & Phillips, Peter C. B., 1999. "Model selection in partially nonstationary vector autoregressive processes with reduced rank structure," Journal of Econometrics, Elsevier, vol. 91(2), pages 227-271, August.
  3. Ulimwengu, John M. & Workneh, Sindu & Paulos, Zelekawork, 2009. "Impact of soaring food price in Ethiopia: Does location matter?," IFPRI discussion papers 846, International Food Policy Research Institute (IFPRI).
  4. Pesaran, M. Hashem & Shin, Yongcheol, 1996. "Cointegration and speed of convergence to equilibrium," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 117-143.
  5. Rashid, Shahidur, 2004. "Spatial integration of maize markets in post-liberalized Uganda," MTID discussion papers 71, International Food Policy Research Institute (IFPRI).
  6. Gloria González-Rivera & Steven M. Helfand, 2001. "The Extent, Pattern, and Degree of Market Integration: A Multivariate Approach for the Brazilian Rice Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 576-592.
  7. Bruggemann, Ralf & Lutkepohl, Helmut & Saikkonen, Pentti, 2006. "Residual autocorrelation testing for vector error correction models," Journal of Econometrics, Elsevier, vol. 134(2), pages 579-604, October.
  8. Loening, Josef L. & Durevall, Dick & Ayalew Birru, Yohannes, 2009. "Inflation Dynamics and Food Prices in an Agricultural Economy: The Case of Ethiopia," Working Papers in Economics 347, University of Gothenburg, Department of Economics.
  9. Jarque, Carlos M. & Bera, Anil K., 1980. "Efficient tests for normality, homoscedasticity and serial independence of regression residuals," Economics Letters, Elsevier, vol. 6(3), pages 255-259.
  10. Dessalegn, Gebremeskel & Jayne, Thomas S. & Shaffer, James D., 1998. "Market Structure, Conduct, and Performance: Constraints of Performance of Ethiopian Grain Markets," Food Security Collaborative Working Papers 55597, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  11. Godfrey, Leslie G, 1978. "Testing for Higher Order Serial Correlation in Regression Equations When the Regressors Include Lagged Dependent Variables," Econometrica, Econometric Society, vol. 46(6), pages 1303-10, November.
  12. Amha, Wolday & Stepanek, Julie & Jayne, Thomas S. & Negassa, Asfaw, 1997. "Meeting Food Aid and Price Stabilization Objectives through Local Grain Purchase: A Review of the 1996 Experience," Food Security Collaborative Working Papers 55596, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  13. Mezgebo, Taddese, 2009. "A multivariate approach for identification of optimal locations with in Ethiopia’s wheat market to tackle soaring inflation on food price (Extended version)," MPRA Paper 17960, University Library of Munich, Germany.
  14. Ho, Mun S & Sorensen, Bent E, 1996. "Finding Cointegration Rank in High Dimensional Systems Using the Johansen Test: An Illustration Using Data Based Monte Carlo Simulations," The Review of Economics and Statistics, MIT Press, vol. 78(4), pages 726-32, November.
  15. Kilian, Lutz & Demiroglu, Ufuk, 2000. "Residual-Based Tests for Normality in Autoregressions: Asymptotic Theory and Simulation Evidence," Journal of Business & Economic Statistics, American Statistical Association, vol. 18(1), pages 40-50, January.
  16. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
  17. Bera, Anil K. & Jarque, Carlos M., 1981. "Efficient tests for normality, homoscedasticity and serial independence of regression residuals : Monte Carlo Evidence," Economics Letters, Elsevier, vol. 7(4), pages 313-318.
  18. Lee, Tae-Hwy & Tse, Yiuman, 1996. "Cointegration tests with conditional heteroskedasticity," Journal of Econometrics, Elsevier, vol. 73(2), pages 401-410, August.
  19. Baci, Sidika & Zaman, Asad, 1998. "Effects of skewness and kurtosis on model selection criteria," Economics Letters, Elsevier, vol. 59(1), pages 17-22, April.
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