Price dependence in the principal EU olive oil markets

Christos Emmanouilides*, Panos Fousekis, Vasilis Grigoriadis

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)3-14
Number of pages12
JournalSpanish Journal of Agricultural Research
Volume12
Issue number1
DOIs
Publication statusPublished - 2014
Externally publishedYes

Bibliographical note

Copyright:
Copyright 2014 Elsevier B.V., All rights reserved.

Keywords

  • Co-movement
  • Copulas
  • Efficiency
  • Integration

ASJC Scopus subject areas

  • Agronomy and Crop Science

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