This paper investigates market integration and asymmetric price transmission in the world rice export markets. Using monthly rice prices from Thailand, Vietnam, and United States, we employ the Johansen test and estimate the threshold vector error correction model (TVECM). Our main findings are that export prices in the three countries are cointegrated, with Thailand and the United States the p...

We evaluate the effects of climate change on Vietnam’s rice market. Results suggest that under a low-emission scenario and without interventions, rice production would drop by as much as 18% by 2030 relative to the 1980–1999 average. Farm and wholesale prices would increase by 1.86%, causing domestic demand to fall by 0.38%. The export sector would experience a rise of 6.94% in export free-on-b...

This paper examines how prices set by multinational firms vary across arm’s-length and related-party customers. We find that arm’s length prices are substantially and significantly higher than related party prices for U.S.-based multinational exporters. The price difference is large even when comparing the export of the same good by the same firm to the same destination country in the same mont...

This paper examines (i) the relationship between the credit constraints faced by a firm and the unit value prices of its exports, as well as (ii) the relationship between the export prices of a firm and its productivity. The paper extends Melitz’s (2003) model of trade with heterogeneous firms by introducing endogenous quality, credit constraints and marketing costs. There are three key finding...

This paper estimates a heterogeneous firms trade model using disaggregate data on export values and prices. Prices contain information about differences in product quality across firms and countries that helps identify key mechanisms in the model. Examining within-country variation in export prices across destination markets, I find that prices behave in a manner inconsistent with the benchmark...

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain – export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight rates, covering the period December 2001 until August 2009 at weekly frequency. We then test whether...

This study examines the significant impact of exchange rate shock on prices of Malaysian importsand exports. In methodology, the study adopts vector error correction (VECM) model using monthlydata of nominal exchange rates, money supply, prices of imports and prices of exports covering theperiod of M1:1999 to M12:2006. For further analysis, we adopt an innovation accounting bysimulating varianc...

This paper introduces a new theoretical model to explore how the behavior of heterogeneous intermediate suppliers affects the product quality choice of heterogeneous final good producers. It explains the choices of quality, inputs and the export prices of a multi-product firm in response to different market characteristics. We found that a more productive firm exports a larger and higher qualit...

In this chapter, the authors use an EGARCH-ECM to estimate the pass-through effects of Foreign Exchange (FX) rate changes and changes in producers’ prices for 20 U.K. export sectors. The long-run adjustments of export prices to FX rate changes and changes in producers’ prices are within the range of –1.02% (for the Textiles sector) and –17.22% (for the Meat sector). The contemporaneous PricingT...

In this paper we examine the degree of market integration in French gas imports. Are there substantial price differences between gas from different export countries, and do prices move together? Furthermore, we analyze to what extent the French, German and Belgian markets are integrated. The long-term takeor-pay contracts are described and analyzed. Time series of Norwegian, Dutch and Russian g...