scholarly journals A Wavelet Analysis of Price Integration in Major Agricultural Markets

2019 ◽  
Vol 52 (1) ◽  
pp. 117-134
Author(s):  
Getachew Nigatu ◽  
Michael Adjemian
Keyword(s):  
Wavelet Analysis ◽  
Structural Breaks ◽  
Linear Time ◽  
Commodity Prices ◽  
Cointegration Analysis ◽  
Agricultural Products ◽  
Short Term ◽  
International Prices ◽  
Partial Period

Abstract:We use linear time series and wavelets approach to study the relationships between U.S. and international prices for corn, soybeans, and cotton. We then compare results obtained with each approach and verify that structural breaks discovered with wavelet analysis match those produced with subsequent partial-period cointegration analysis. We find little evidence that short-term fluctuations between domestic and international prices are stable, while long-term relationships for many price pairs experience distinct structural breaks. We further find that even though China is among the largest importers of U.S. agricultural products, its commodity prices share little or no relationship with those prevailing in U.S. markets.

COMMON FEATURES IN EAST ASIAN STOCK MARKETS: LONG-TERM AND SHORT-TERM COMOVEMENTS BETWEEN CHINA AND KOREA

2013 ◽  
Vol 58 (03) ◽  
pp. 1350018
Author(s):  
HAHN SHIK LEE ◽  
SOO IN KIM
Keyword(s):  
Stock Markets ◽  
East Asian ◽  
International Investment ◽  
Cointegration Analysis ◽  
Chinese Stock Market ◽  
Short Term ◽  
Financial Firms ◽  
Contemporaneous Correlation ◽  
East Asian Stock Markets

As increasing attention has been given in recent literature to the potential of the Chinese financial market, we investigate the strength of shared dynamics among East Asian stock markets, by examining both the long-term and short-term comovements. In doing so, the cointegration analysis is used to assess the long-term relationship, whereas the notions of cofeature as well as contemporaneous correlation are employed to discuss the short-term relationship. The basic finding is that evidence for short-term comovement between the Korean and Chinese stock markets appears to be strong, while evidence for long-term relationship is rather weak. Empirical results from subsamples suggest that both the long-term and short-term relationships have strengthened since the acquisition of QFII qualification by Korean financial firms. These observations indicate that the international linkage between the two countries has strengthened along with increasing opportunities for international investment in the Chinese stock market.

scholarly journals Effect of Carbon Dioxide Concentration on Cereal Yield in Sudan

2019 ◽  
Vol 5 ◽  
pp. 1
Author(s):  
Ibrahim A. Onour ◽  
Keyword(s):  
Carbon Dioxide ◽  
Positive Impact ◽  
Carbon Dioxide Concentration ◽  
Cointegration Analysis ◽  
Short Term ◽  
Time Duration ◽  
Yield Increase ◽  
Research Findings ◽  
Bound Test

To estimate the long-term effect of carbon dioxide (CO2) emission on cereal yield in Sudan, we employed an autoregressive distributed lagged (ARDL) bound test for cointegration analysis. The ARDL results reveal evidence of cointegration between the dependent variable (cereals yield) and two independent variables (CO2 emission) and agricultural GDP. The estimation results of the error correction model indicate that change in CO2 has a positive and significant impact on the cereal yield in the long and short terms, as 1% increase in CO2 leads to a cereal yield increase by 3% in the short term and by 0.7% in the long term. This result adds two important findings to the existing literature: First, the positive impact of CO2 on cereal yield in Sudan supports previous research findings in other countries of warm and arid climates. Second, the effect of CO2 on cereal yield differs from short to long term, as our finding indicates that CO2 has a greater positive effect in the short term compared to that in the long term, implying that the effect of CO2 on cereal yields is not linear, as commonly perceived, but it decreases as time duration extends to longer periods. This may be due to the CO2 effect on global warming that emanates from cumulative CO2 concentration, which leaves a disproportionate impact on crops over time.

An investigation on fuel carrier’s price rise impacts on the consumer price inflation in Iran

2021 ◽  
Vol 04 ◽  
Author(s):  
Nima Norouzi
Keyword(s):  
Consumer Price Index ◽  
Commodity Prices ◽  
Gasoline Prices ◽  
Government Control ◽  
Short Term ◽  
Fuel Price ◽  
Price Inflation ◽  
Oil Derivatives ◽  
The Impact

Introduction: Oil is one of the primary commodities of all countries globally and is, in essence, the energy base of all that we know as transportation. Therefore, price fluctuations of derivatives, especially fuel and oil derivatives, are the policymakers’ main concerns because they can cause serious problems, such as inflation in commodity prices. Objective: The impact of fuel carriers’ prices on the consumer price index remains a subject of debate and research. This paper aims to develop a model to define the inflation regime in Iran and then investigate the impact of gasoline and diesel price on the total inflation rate. Method: In this study, using the central bank time series and available data on energy balance and World Bank data banks, a non-linear distributed online delay regression modeling is developed to analyze the relationship between fuel price and essential commodity inflation. Results: The results show that there is an impact of gasoline price on inflation. It does not have much effect in the long term, but diesel can somewhat influence raising prices, which can exacerbate poverty in the community that needs special attention. Conclusion: It was also found that diesel’s price is harmful to the economy because it can stimulate inflation in the long term. However, in the short term, diesel does not cause any significant inflation in the prices. While gasoline prices can have many short-term social effects, this paper suggests that the Iranian government control diesel fuel prices prevent long-term inflation in inflation and consumer price rate.

Short-term and long-term dependencies of the S&P 500 index and commodity prices

2013 ◽  
Vol 13 (4) ◽  
pp. 583-592 ◽  
Author(s):  
Michael Graham ◽  
Jarno Kiviaho ◽  
Jussi Nikkinen
Keyword(s):  
Commodity Prices ◽  
Short Term

scholarly journals Revisiting the effects of relevant factors on Pakistan's agricultural products export

2020 ◽  
Vol 66 (No. 12) ◽  
pp. 527-541
Author(s):  
Zaid Ashiq Khan ◽  
Mansoor Ahmed Koondhar ◽  
Noshaba Aziz ◽  
Uzair Ali ◽  
Liu Tianjun
Keyword(s):  
Error Correction ◽  
National Economy ◽  
Crop Production ◽  
Error Correction Model ◽  
Agricultural Products ◽  
Short Term ◽  
Correction Model ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag

Pakistan is an agriculture-based country, so the agricultural sector is known as the backbone of the national economy. Considering the national economy and the agricultural industry, it is necessary to focus on earnings through agricultural products export to improve the livelihood of local farmers. Therefore, the current study aimed to analyse the short-term and long-term factors affecting agricultural products export. The annual time series of 1976–2016 were collected from World Bank indicators, the Food and Agriculture Organization, and the Statistical Bureau of Pakistan. An autoregressive distributed lag, along with a vector error correction model, was employed. A cointegration test showed long-term associations between the selected variables. While the autoregressive distributed lag model confirmed the short-term correlation between area sown and crop production towards agricultural products export, there is no long-term relationship between the selected variables. In addition, the bidirectional correlation between employment in agriculture and agricultural products export was confirmed by the vector error correction model. Therefore, it is essential to increase agricultural production with the available natural resources to increase foreign earnings.

Natural Disasters and Cross-Border Implications

2020 ◽  
Author(s):  
Elena McLean ◽  
Muhammet Bas
Keyword(s):  
Natural Disasters ◽  
Commodity Prices ◽  
Long Term Effects ◽  
Short Term ◽  
Financial Flows ◽  
Trade Relations ◽  
Cross Border ◽  
Governmental Organizations ◽  
Non Governmental Organizations

Natural disasters such as cyclones, droughts, earthquakes, floods, landslides, volcanoes, or pandemics routinely have cross-border implications. Transboundary risks of natural disasters tend to be the greatest for neighboring countries but often extend regionally or even globally. Even disasters with seemingly localized impacts contained within the national borders of a given state may have indirect short-term or long-term effects on other countries through refugee flows, conflict spillovers, volatility of global commodity prices, disruption of trade relations, financial flows, or global supply chains. Natural disasters may increase the risk of interstate conflict because of commitment problems, reduced opportunity costs of conflict, shocks to status quo divisions of resources, or demarcation of territories among countries, or because of leaders’ heightened diversionary incentives in favor of conflict. In some cases, disasters may have a pacifying effect on ongoing hostilities by creating opportunities for disaster diplomacy among conflict parties. Population displacement in disaster zones can send refugee flows and other types of migration across borders, with varying short-term and long-term socioeconomic and political effects in home and host countries. Adverse effects of natural disasters on regional and global economic activity shape patterns of international trade and financial flows among countries. To mitigate such risks from natural disasters and facilitate adjustment and recovery efforts, countries may turn to international cooperation through mechanisms for disaster relief and preparedness. Regional and global governmental and non-governmental organizations (NGOs) are common means to initiate and maintain such cooperative efforts.

scholarly journals A Dynamic Relationship between Environmental Degradation, Healthcare Expenditure and Economic Growth in Wavelet Analysis: Empirical Evidence from Taiwan

2020 ◽  
Vol 17 (4) ◽  
pp. 1386 ◽  
Author(s):  
Cheng-Feng Wu ◽  
Fangjhy Li ◽  
Hsin-Pei Hsueh ◽  
Chien-Ming Wang ◽  
Meng-Chen Lin ◽  
...  
Keyword(s):  
Economic Growth ◽  
Wavelet Analysis ◽  
Environmental Pollution ◽  
Integrated Circuit ◽  
Healthcare Expenditure ◽  
Control Variable ◽  
Short Term ◽  
Dynamic Relationship ◽  
Expansion Stage

This paper analyzes the co-movement and causal linkages between environmental pollution and healthcare expenditure, taking economic growth as a control variable by using wavelet analysis for Taiwan over the period 1995 Q1–2016 Q4. The results show that there exists co-movement and causality between environmental pollution and healthcare expenditure at different frequencies and times. The changes in the relationships of the two variables are observed in certain events such as the period of the expansion stage, the policy of environmental pollution, and the issue of the National Health Insurance Integrated Circuit card (NHI-IC) in Taiwan. In the short-term, positive causality runs from healthcare expenditure to environmental pollution before 2004, while negative causality runs from healthcare expenditure to environmental pollution before 2007 in the long-term. After adding economic growth as a control variable, positive causality runs from healthcare expenditure to environmental pollution in the period 2009–2011 in the short-term, while negative causality running from healthcare expenditure to environmental pollution is shown in 2008 in the long-term. The results indicate that “higher government health expenditure leading to higher demand for environment quality” exists in different sub-periods and the argument may concern the factor of economics in the long-term. The positive healthcare lead in the short-term may be based on economics in the expansion stage. Also, the issue of NHI-IC possibly affects the dynamic relationship between healthcare expenditure and environmental pollution without considering economics. Based on empirical analysis, certain policy and managerial implications are addressed for decision-makers at macroeconomic and microeconomic levels.

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