Sie befinden Sich nicht im Netzwerk der Universität Paderborn. Der Zugriff auf elektronische Ressourcen ist gegebenenfalls nur via VPN oder Shibboleth (DFN-AAI) möglich. mehr Informationen...
Multiple-Regime Spatial Price Transmission with an Application to Maize Markets in Southern Africa
Ist Teil von
American journal of agricultural economics, 2012, Vol.94 (1), p.174-188
Ort / Verlag
Malden: Oxford University Press
Erscheinungsjahr
2012
Link zum Volltext
Quelle
Wiley-Blackwell Journals
Beschreibungen/Notizen
Conventional threshold models of price transmission allow for different speeds of adjustment to equilibria depending on the magnitude of price differentials between markets. However, these models typically assume only one underlying long-run equilibrium price relationship. In this article we develop a framework for allowing multiple equilibria and multiple speeds of adjustment with regime separation depending on the magnitude of trade flows between regions, rather than the magnitude of price differentials. Applying this framework to maize price transmission between South Africa and Zambia shows no transmission during periods of high imports, when the government was heavily involved in maize importation, but stronger transmission during periods of low imports when the government was not importing.