Price transmission is a critically important issue that affects market enlargement and the unification
\nof Canadian\u2013U.S. agriculture. This study adopts alternative frameworks to examine the nature of
\ncross-border integration in selected meat and livestock markets. The aim is to determine the extent to
\nwhich selected meat and livestock markets transmit price signals across the international border using
\ntime-series data through 2001. Typically, price-based studies examining market integration across
\ncountries ignore important spatial and temporal factors affecting commodity price relationships such
\nas adjustments lags, changes in the value of national currencies, and policy-induced trade barriers.
\nHere, we account for such factors in our two model specifications. The first model is based upon the
\nlaw-of-one price (LOP) framework and focuses on spatial efficiency. The second analytical framework
\nis the vector autoregressive (VAR) model that highlights the dynamic notion of market connectedness.
\nThe LOP analysis permits us to formally test the existence of perfect market integration and complete
\nmarket segmentation. The VAR analysis enables us to gauge price-shock transference. Empirical
\nevidence is generated confirming that the two national markets for whole chicken are segmented, a
\nnot unsurprising finding given that poultry is a supply managed sector in Canada. The Canadian\u2013U.S.
\nhog- and pork-product markets were found to be more integrated than the Canadian\u2013U.S. steer- and
\nbeef-product markets. Evidence is also provided showing that the Canadian\u2013U.S. exchange rate inhibits
\ncross-border integration in these commodity markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Price transmission is a critically important issue that affects market enlargement and the unification of Canadian\u2013U.S. agriculture. This study adopts alternative frameworks to examine the nature of cross-border integration in selected meat and livestock markets. The aim is to determine the extent to which selected meat and livestock markets transmit price signals across the international […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[8882,2096,13812,4927,527,20007,6009,13370,5381,10858,4706,94,5775,10859,14784,22808,16262,195,1324,138,17743,16679,20911,4874,1579,2481],"class_list":["post-5517","post","type-post","status-publish","format-standard","hentry","category-economics","tag-al","tag-alternative","tag-asserva-300","tag-border","tag-efficiency","tag-gh","tag-integrated","tag-ken","tag-light","tag-mark","tag-market-integration","tag-meat","tag-meat-and-livestock","tag-nat","tag-ness","tag-pic","tag-pl","tag-policy","tag-pork","tag-poultry","tag-prod","tag-smit","tag-t","tag-tan","tag-test","tag-work"],"_links":{"self":[{"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/posts\/5517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/comments?post=5517"}],"version-history":[{"count":0,"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/posts\/5517\/revisions"}],"wp:attachment":[{"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/media?parent=5517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/categories?post=5517"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/prairieswine.com\/rsc\/wp-json\/wp\/v2\/tags?post=5517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}