Price dependence in the principal EU olive oil markets

  • Christos Emmanouilides Dept. Economics. Aristotle University of Thessaloniki. University Campus. 541 24 Thessaloniki
  • Panos Fousekis Dept. Economics. Aristotle University of Thessaloniki. University Campus. 541 24 ThessalonikiAristotle University of Thessaloniki
  • Vasilis Grigoriadis Dept. Economics. Aristotle University of Thessaloniki. University Campus. 541 24 Thessaloniki
Keywords: efficiency, integration, co-movement, copulas

Abstract

The objective of this paper is to assess the degree and the structure of price dependence in the principal EU olive oil markets (Spain, Italy and Greece). To this end, it utilizes monthly olive oil price data and the statistical tool of copulas. The empirical results suggest that prices are likely to boom together but not to crash together; this is especially true for the prices of the two most important players, Italy (importer) and Spain (exporter). The finding of asymmetric price co-movements implies that the three principal spatial olive oil markets in the EU cannot be thought of as one great pool.

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Published
2013-12-27
How to Cite
EmmanouilidesC., FousekisP., & GrigoriadisV. (2013). Price dependence in the principal EU olive oil markets. Spanish Journal of Agricultural Research, 12(1), 3-14. https://doi.org/10.5424/sjar/2014121-4606
Section
Agricultural economics