Smooth transition effects in price transmission: The case of international wheat export prices |
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| Authors: | Atanu Ghoshray |
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| Affiliation: | 1. Department of Economics, University of North Carolina at Greensboro, Greensboro, NC 27402, USA;2. School of Economics, La Trobe University, Victoria 3086, Australia;3. Department of Economics, Wylie Hall, Indiana University, Bloomington, IN 47405, USA;4. Research Division, Federal Reserve Bank of St. Louis, P.O. Box 442, St. Louis, MO 63166, USA;1. University of Miami Miller School of Medicine, USA;2. Medical College of Georgia, USA;3. Emory University School of Medicine, USA;4. Orange Coast Women''s Medical Group, USA;5. Saddleback Women''s Medical Group, USA;6. University of Connecticut, USA;7. University of Arkansas, USA;8. University of Colorado, USA;9. University of Florida, USA |
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| Abstract: | International wheat prices are tested for cointegration allowing for exponential smooth transition adjustment. The results suggest that owing to transactions costs, it is plausible that arbitrage will be greater, the further the prices deviate from each other. |
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