Vis enkel innførsel

dc.contributor.authorEide, Arne
dc.contributor.authorManning, Peter
dc.contributor.authorSteinshamn, Stein Ivar
dc.date.accessioned2006-06-26T10:02:49Z
dc.date.available2006-06-26T10:02:49Z
dc.date.issued2003-03
dc.identifier.isbn82-491-0260-6 (trykt versjon)
dc.identifier.issn0803-4036
dc.identifier.urihttp://hdl.handle.net/11250/164529
dc.description.abstractThis paper examines the relationship between causality models and cointegration models in testing for price integration and the Law of One Price (LOP). In our review, we show that cointegration models, which allow for nonstationarity in prices, are a natural extension of the traditional causality methods and not an alternative approach. Hence, the two approaches investigate the same economic hypotheses however, the choice of modeling method depends on the times series properties of the data. An empirical analysis is provided using prices for the whitefish market in France. With nonstationary price data the causality approach over rejects the hypothesis of the LOP whereas, conintegration models provide evidence for a well-integrated whitefish market. What is more, a generalized version of the composite commodity theorem holds and prices of most whitefish species can be aggregated into a single commodity price index. Salmon does not belong to the whitefish market in France.en
dc.format.extent6363964 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoengen
dc.publisherSNF/Centre for Fisheries Economicsen
dc.relation.ispartofseriesReporten
dc.relation.ispartofseries2003:5en
dc.relation.ispartofseriesReporten
dc.relation.ispartofseries87en
dc.titleAssessment of the economic benefits African countries received from their marine resources : three case studiesen
dc.typeResearch reporten


Tilhørende fil(er)

Thumbnail

Denne innførselen finnes i følgende samling(er)

Vis enkel innførsel