Market integration and convergence to the law of one price in the North American onion markets

Agribusiness ◽  
2008 ◽  
Vol 24 (2) ◽  
pp. 177-191 ◽  
Author(s):  
Dwi Susanto ◽  
C. Parr Rosson ◽  
Flynn J Adcock
Keyword(s):  
North American ◽  
Market Integration ◽  
Law Of One Price ◽  
The North ◽  
The Law

Borderland

Quarters ◽  
2019 ◽  
pp. 127-164
Author(s):  
John Gilbert McCurdy
Keyword(s):  
Native Americans ◽  
Mississippi River ◽  
North American ◽  
Unsolved Problem ◽  
Appalachian Mountains ◽  
The North ◽  
The Law ◽  
British Colonies

This chapter unearths quartering on the North American borderland where colonists and Native Americans struggled to live alongside one another, especially in the backcountry between the Appalachian Mountains and the Mississippi River. The Quartering Act included provisions to extend the law to places that were not organized British colonies, although this enforcement largely failed. Colonists and speculators advocated opening the backcountry to colonization as a means of paying for quartering troops, while Indian superintendents and British officers sought to leave the region to Native Americans. Ultimately, neither side prevailed; the borderland persisted and quartering in the backcountry remained an unsolved problem.

Cointegrating relationship and the degree of market integration among the North American softwood lumber product markets

2009 ◽  
Vol 39 (11) ◽  
pp. 2129-2137 ◽  
Author(s):  
Chander K. Shahi ◽  
Shashi Kant
Keyword(s):  
North American ◽  
Market Integration ◽  
Impulse Response Functions ◽  
Vector Error Correction ◽  
Softwood Lumber ◽  
The North ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Integrated Or ◽  
Relationship Of

Studies in spatial market integration of the North American softwood lumber products have mostly focused on the question of whether prices in distinct market locations are cointegrated or not. However, the informational deficiencies in market integration studies were fulfilled in this analysis by examining a continuum of the degree of market integration rather than using the dichotomous approach whereby markets are deemed either integrated or not. Firstly, the methodology of permanent–transitory decomposition in a multivariate vector error correction model was used to estimate the cointegrating relationship of the North American markets for three categories of softwood lumber products: Spruce–Pine–Fir (SPF), Douglas fir (DF), and Hemlock fir (HF). Secondly, a consistent ranking of the degree of market integration was constructed by estimating the reaction time for prices to return back to the steady-state equilibrium, using generalized impulse response functions and persistence profiles. Our results indicate that the long-run price equilibrium relationship for all SPF and HF products is driven by both the production (in Canada) and consumption (in USA) sides of the markets, whereas that for DF products is driven by the consumption (USA) side only. Generally, the degree of market integration for HF products is lower than that for SPF products and higher than that for DF products.

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