Premium
Regional Integration of Nineteenth Century U.S. Egg Markets
Author(s) -
Serra Teresa,
Goodwin Barry K.
Publication year - 2004
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.2004.tb00079.x
Subject(s) - multivariate statistics , economics , econometrics , error correction model , selection (genetic algorithm) , mathematical economics , statistics , mathematics , computer science , cointegration , artificial intelligence
Multivariate asymmetric threshold vector error correction models are applied to a historical analysis of the regional integration of U.S. markets for eggs at the turn of the nineteenth century. Two general approaches to the selection of the thresholds are considered. The first criterion ignores the cross equation correlation while the latter explicitly accounts for it. Our results suggest that threshold behaviour characterises spatial price linkages between the markets analysed.