Market Integration for Shrimp and the Effect of Catastrophic Events
Andrew Muhammad () and
Keithly Jones ()
No 61585, 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado from Agricultural and Applied Economics Association
Seasonal unit-root testing and seasonal cointegration methods are employed to investigate the price transmission in U.S. shrimp markets. ARIMA and Vector Error Correction Models (VECM) are used to identify the effect of catastrophic events on individual price series in one region and the spillover effects in the price series for other regions. Results showed that a cointegrating relation exists between neighboring states, specifically between Alabama and Mississippi and Louisiana and Texas. Cointegrating relations also exist between the Gulf States and the Pacific region, but not the Atlantic region, and the price of imported shrimp is cointegrated with each of the domestic shrimp price series. Finally, while Katrina had an effect on shrimp prices in Gulf States, the effect was not long lasting.
Keywords: Marketing; Risk and Uncertainty (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea10:61585
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