This paper examines price integration in the MERCOSUR countries of Argentina and Brazil after the creation of this regional economic agreement using a fractional cointegration analysis. The results suggest that Argentine wheat and corn prices are fully cointegrated with the corresponding world...

The Law of One Price (LOP) is an important component of most, if not all, international trade models because this assumption allows researchers to use a single representative price for all regions. This paper examines the long-run LOP for international commodity prices using a generalized notion...

U.S. wheat producers contend that Canadian production subsidies and implicit export subsidies have undermined the U.S. price support program. The authors examine this contention and assess the relationships between U.S. and Canadian wheat prices using a cointegration and error approach. The...

In North America and Europe, wheat is a very important commodity that has been at the heart of trade disputes and policy conflicts. This study uses a dynamic Almost Ideal Demand System (AIDS) to estimate demand elasticities for wheat differentiated by classes, for the United States and the...

In this paper, relationships between U.S. and Canadian wheat prices are examined using cointegration and error correction approach. The use of an error correction model is appropriate because U.S. and Canadian wheat prices are first differenced stationary and cointegrated. The results suggest...

The Law of One Price (LOP) is an important component of most, if not all, international trade models because this assumption allows researchers to use a single representative price for all regions. This paper examines the long-run LOP for international commodity prices using a generalized notion...

In North America and Europe, wheat is a very important commodity that has been at the heart of trade disputes and policy conflicts. This study uses a dynamic Almost Ideal Demand System (AIDS) to estimate demand elasticities for wheat differentiated by classes, for the United States and the...

U.S. wheat producers contend that Canadian production subsidies and implicit export subsidies have undermined the U.S. price support program. The authors examine this contention and assess the relationships between U.S. and Canadian wheat prices using a cointegration and error approach. The...

This study examines the Law of One Price (LOP) in international commodity markets using fractional cointegration analysis. For proper evaluation of the LOP, fractional cointegration analysis seems to be appropriate because of its flexibility in capturing a wider range of mean reversion behavior...