Instructor

Prof. Dr. S. von Cramon-Taubadel


Time and place

To be announced.


Purpose and concept

This is a reading course for post-graduate students who will read and present in class, either alone or in pairs, articles and papers on various aspects of market integration and price transmission analysis in agricultural economics. Along with the oral presentation, students will be expected to help organise a practical session in the PC laboratory of the Department of Agricultural Economics and Rural Development based on the articles they present.


Grading

Students will be graded on the basis of their classroom presentation and an oral exam. The time and place of this exam will be posted on the course website (http://www.uni-goettingen.de/de/81009.html).


Topics

1. Vertical price transmission under perfect competition (Gardner, 1975).
2. Vertical price transmission under imperfect competition (Lloyd et al., 2006).
3. Asymmetric vertical price transmission (Meyer and von Cramon, 2004).
4. Vertical price transmission with Markov-switching methods (Brümmer et al., 2008).
5. Spatial price transmission (Fackler and Goodwin, 2001).
6. Threshold error correction models of spatial price transmission (Goodwin and Piggott, 2001).
7. Threshold cointegration and spatial price transmission I (Goetz & von Cramon, 2008).
8. Threshold cointegration and spatial price transmission II (Stephens et al., 2008).
9. Information and price transmission (Jensen, 2007).


Literature

Brümmer, B., S. von Cramon-Taubadel and S. Zorya (2008). Vertical Price Transmission Between Wheat and Flour in Ukraine: A Markov-Switching Vector Error Correction Approach. Under revision for the European Review of Agricultural Economics.

Fackler, P.L. and B.K. Goodwin (2001). Spatial Price Analysis. In: Gardner, B. and G. Rausser (eds.): Handbook of Agricultural Economics, Vol. 1B. Elsevier: 971-1024.

Gardner, B.L. (1975). The Farm-Retail Price Spread in a Competitive Food Industry, American Journal of Agricultural Economics, Vol. 57(3): 399-409.

Goetz, L. and von Cramon-Taubadel, S. (2008). Accounting for a threshold equilibrium relationship in a vector error correction model: An application to the German apple market. Working paper, Department of Agricultural Economics and Rural Development, University of Göttingen.

Goodwin, B.K. and N.E. Piggott (2001). Spatial Market Integration in the Presence of Threshold Effects. American Journal of Agricultural Economics, Vol. 83: 302-317.

Jensen, R. (2007). The digital provide: Information (technology), market performance, and welfare in the South Indian fisheries sector. Quarterly Journal of Economics, 122(3):879-924.

Lloyd, T., S. McCorriston, W. Morgan and A.J. Rayner (2006). Food Scares, Market Power and Price Transmission: the UK BSE Case. European Review of Agricultural Economics, Vol. 33(2): 119-147.

Meyer, J. and S. von Cramon-Taubadel (2004). Asymmetric Price Transmission: A Survey. Journal of Agricultural Economics, Vol. 55(3): 581-611.

Stephens, E., E. Mabaya, S. von Cramon-Taubadel and Barrett, C. (2008). Spatial Price Adjustment with and without Trade. Submitted to the Review of Economics and Statistics.