TY - JOUR
T1 - The extent of the world coffee market
AU - Ghoshray, Atanu
N1 - ESTAR, extent of the market, non-linear adjustment, F15, Q13
PY - 2010/1
Y1 - 2010/1
N2 - This paper employs a novel method to determine whether the prices of various types of coffee are co-integrated. In the spirit of Stigler's arbitrage definition of the market, an attempt is made to test whether all the prices co-integrate in pairs, implying that there is a single market for coffee. This test for co-integration is carried out using both linear and non-linear approaches. This finding demonstrates that the conclusions drawn from the linear and non-linear tests may be drastically different.
AB - This paper employs a novel method to determine whether the prices of various types of coffee are co-integrated. In the spirit of Stigler's arbitrage definition of the market, an attempt is made to test whether all the prices co-integrate in pairs, implying that there is a single market for coffee. This test for co-integration is carried out using both linear and non-linear approaches. This finding demonstrates that the conclusions drawn from the linear and non-linear tests may be drastically different.
UR - http://www.scopus.com/inward/record.url?scp=73549094244&partnerID=8YFLogxK
UR - http://dx.doi.org/10.1111/j.1467-8586.2009.00318.x
U2 - 10.1111/j.1467-8586.2009.00318.x
DO - 10.1111/j.1467-8586.2009.00318.x
M3 - Article
SN - 0307-3378
VL - 62
SP - 97
EP - 107
JO - Bulletin of Economic Research
JF - Bulletin of Economic Research
IS - 1
ER -