EXCHANGE RATE EFFECTS ON CANADIAN/U.S. AGRICULTURAL PRICES
| dc.creator | Xu, Miao | |
| dc.creator | Orden, David | |
| dc.date | 2017-04-01T19:55:43Z | |
| dc.date.accessioned | 2026-07-09T03:29:24Z | |
| dc.description | Exchange rate effects on prices in Canada and the United States are evaluated for five traded farm outputs (wheat, soybeans, corn, feeder steers, and slaughter steers) and four traded non-farm-produced inputs (fertilizer, pesticides, petroleum, and farm machinery). Unit root tests suggest the series are stationary in first differences. Short-run dynamic models based on the differences specification adopted earlier by Carter, Grey and Furtan (1990) are re-estimated using similar data over an extended period that encompasses recent exchange rate movements. The analysis confirms that short-run adjustments toward the law of one price occur for the five agricultural outputs and to a lesser extent for the three intermediate inputs, while such price adjustment is refuted for farm machinery. Cointegration tests also show price convergence to stationary long-run equilibrium relationships for the five farm outputs but not for the inputs. | |
| dc.identifier | doi:10.22004/ag.econ.19886 | |
| dc.identifier | https://ageconsearch.umn.edu/record/19886/files/sp02or02.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/19886 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/533416 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/19886 | |
| dc.title | EXCHANGE RATE EFFECTS ON CANADIAN/U.S. AGRICULTURAL PRICES | |
| dc.type | Text |