Are Australian wholesale vegetable markets LOOPy?

Panos Nicols and Fredoun Z. Ahmadi-Esfahani

No 47618, 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia from Australian Agricultural and Resource Economics Society

Abstract: Literature regarding the pricing efficiency of Australian wholesale vegetable markets is very limited. The objective of this paper is to test whether or not vegetable products traded in these markets are priced efficiently and satisfy the law of one price (LOOP). To that end, the price relationships between Adelaide and Melbourne markets are tested, using the Johansen cointegration approach, Granger causality and impulse response functions. The empirical findings do not appear to satisfy the LOOP. Policy implications of the analysis are explored.

Keywords: Demand and Price Analysis; Marketing (search for similar items in EconPapers)
Pages: 19
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare09:47618

DOI: 10.22004/ag.econ.47618

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