Endogenous variables in structural models of agricultural commodity markets are typically treated as stationary. Yet, tests for unit roots have rather frequently implied that commodity prices are not stationary. This seeming inconsistency is investigated by focusing on alternative specifications...

Endogenous variables in structural models of agricultural commodity markets are typically treated as stationary. Yet, tests for unit roots have rather frequently implied that commodity prices are not stationary. This seeming inconsistency is investigated by focusing on alternative specifications...

In the paper, we use a panel data approach to study the threshold effects and nonlinearity in economic growth instead of the cross-sectional approach commonly used in previous studies. The methodologies developed by Hansen (2000) and Caner and Hansen (2004) are applied to identify threshold...

In the paper, we use a panel data approach to study the threshold effects and nonlinearity in economic growth instead of the cross-sectional approach commonly used in previous studies. The methodologies developed by Hansen (2000) and Caner and Hansen (2004) are applied to identify threshold...

Numerous models of price-demand-supply behavior in agricultural markets have been proposed and estimated. The literature contains valuable contributions, but the cumulative effect is somewhat disappointing. This paper appraises the status of the price analysis literature and makes suggestions...