To What Extent Does the Market Price of Imported Fishmeal Affect the Market Price of Pisciculture Products in Japan？ The Case of Yellowtail and Sea Bream

This study investigates the extent of the influence of imported fishmeal price changes on the market price of pisciculture products. To date, there have been only a few insufficient researches on this topic in Japan. This paper aims to reveal the causality relationship between the market price of imported fishmeal and the market price of pisciculture products using the granger causality test, and to simulate the market price of pisciculture products using impulse response functions as the price of imported fishmeal increases. The results of the granger causality test and impulse response function analyses were as follows： （1） there is a market linkage from the price of imported fishmeal to the market price of sea bream, but no causality with the market price yellowtail; and （2） this has a positive impact on the market price of sea bream when the price of imported fishmeal changes. Moreover, spillover effects were noticed in this simple scenario （at a market price of 800 yen/kg and one unit shock of 1 yen） of about 3 yen/kg.

AR Model Based on Time Series Modeling for Predicting Egg Market Price in 2021

Eggs,as a meat consumer product in China,are closely related to the vegetable basket project.Exploring and predicting the future trend of egg market price is of great significance for stabilizing egg price and market supply.In this study,the time series AR model was used for fitting the egg market prices in the 66 d from January 1 to March 7,2021,and the delay operator nlag18 was used for white noise test,giving pr>probability of chisq<0.005.The time series was not a white noise series,and then the stationary series was used for modeling.The optimal model was selected as the AR series(BIC(3,0)),and finally,the egg market price model AM was obtained as X_(t)=9.0556+(1+0.8926)ε_(t),which was the optimal model.The model showed that the egg price fluctuations in 2021 will be clustered,and the later price will be significantly affected by external factors in the previous period.The dynamic prediction results of the model showed that the egg price would stop falling in March 2020,and the egg price would continue to slow down in March.

Determinants of market price of stock： A study on bank leasing and insurance companies of Bangladesh

Financial firms make up a substantial fraction of the domestic equity market. A number of studies subsequently used different conceptual and methodological approaches to model equity return of financial services firms. Movement of the stock price as the consequence of the movement of the micro and macroeconomic factors is strongly supported by the literature review. Dhaka Stock Exchange in Bangladesh is inefficient in weak form. Multiple regression analysis is conducted to find out the relationship microeconomic factors with the stock price. In this study found a significant linear relationship among market return and some microeconomic factors such as net asset value per share, dividend percentage, earning per share of bank leasing and insurance companies. Also found non-linear relationship among the variables is insignificant at 95 percent level of significance.

Rice quality in relation to market prices in Yunnan Province

Factors affecting rice quality and their impacts on market price were investigated in this study. On-farm survey and market survey was undertaken in three selected sites namely Kunming, Dali, and Xishuangbanna in Yunnan Province, China. Market sampling was conducted to determine important rice quality characteristics. Sixty milled rice samples were collected from domestic markets of the three sites during a period of Mar to Apr in 1994. The grain physicochemical properties of the milled rice samples were analyzed on the basis of Chinese Agricultural Ministry Standard for testing rice quality. A hedonic price model (implicit price model) was further employed to quantify relationships between quality characteristics and market prices of rice. The model can be expressed mathematically as the following function (1) This function shows that the average price paid by consumer for different grades of rice with attribute Xj. Using the ordinary least square (OLS) regression of observed market prices on measures

Regression Analysis of Electric Power Market Price of JEPX

The deregulation of electric power industries is introducing around the world and electric power markets are operated under the deregulation. Also in Japan, JEPX (Japan Electric Power Exchange) operates a day-ahead market since April 2005. We have already analyzed the electric power market prices in the several markets including JEPX by autoregressive models. We compose simple regression equations, of which a dependent variable is the market price and explanatory variables are the demand and the market price of 24 hours ago. In this paper, we analyze JEPX price data in summer seasons from 2007 to 2013. In this period, the JEPX price is affected by many social phenomena such as Lehman Shock and East Japan earthquake disasters. We compare the determination coefficient and the coefficients of regression and investigate the change of coefficients over the years.

Asymmetric Price Transmission Analysis of the International Soybean Market

This study analyzed the asymmetric price transmission in the international soybean market, using data from the US (Chicago Futures), European (Rotterdam), Brazilian (Paranaguá), Argentinian (Rosario Futures and Rosario Spot), and Chinese (Spot and Futures) markets. The study looked at the price transmission between these markets over a period of almost 10 years, from September 2009 to May 2019. The Phillips-Perron unit root test was used to determine the order of integration of the time series. The Engle-Granger cointegration test failed to find any evidence of cointegration between the Chinese and Argentinian markets with any others of the international markets. The lack of cointegration was associated with highly government intervened markets. The cointegration and threshold test proposed by Enders and Siklos, succeeded in rejecting the Null hypothesis and finding cointegration among the series after structural breaks had been taken into account. The BDS test for nonlinearity showed that most of the time series were nonlinear, which prompted the investigation to look into nonlinear modelling. To evaluate asymmetric price transmission, the study used the Threshold autoregressive (TAR) model and the momentum threshold model (MTAR). The Argentine and Chinese markets were primarily suspected of exhibiting asymmetric price transmission due to structural government intervention. However, the test results failed to reject the null hypothesis and revealed asymmetric price transmission between these markets and the international market. As expected, the results found no evidence of asymmetric price transmission in the Paranaguá, Rotterdam, and Chicago markets. Hence, it can be concluded that symmetric price transmission is more prevalent in the global soybean market than asymmetric price transmission.

A Short-Term Electricity Price Forecasting Scheme for Power Market

Electricity price forecasting has become an important aspect of promoting competition and safeguarding the interests of participants in electricity market. As market participants, both producers and consumers intent to contribute more efforts on developing appropriate price forecasting scheme to maximize their profits. This paper introduces a time series method developed by Box-Jenkins that applies autoregressive integrated moving average (ARIMA) model to address a best-fitted time-domain model based on a time series of historical price data. Using the model’s parameters determined from the stationarized time series of prices, the price forecasts in UK electricity market for 1 step ahead are estimated in the next day and the next week. The most suitable models are selected for them separately after comparing their prediction outcomes. The data of historical prices are obtained from UK three-month Reference Price Data from April 1st to July7th 2010.

The Empirical Analysis of the Dynamic Prices Relationship between Cotton Spot Market and Futures Market in Xinjiang

The thesis analyzes the causal relationship between the cotton spot,and the tendency and impact of prices of futures markets in Xinjiang by using ADF test,co-integration analysis,Granger causality test and other econometric methods in order to discuss the interacted relationship between futures market prices of cotton and spot market prices since the futures of cotton in Xinjiang go public.The results of empirical analysis show that the spot market prices of cotton and the futures market prices in Xinjiang fluctuate prominently in the short run and tend to counterpoise in the long run;the futures market of cotton plays the role of leading the spot market prices of cotton in Xinjiang,while the spot market prices of cotton in Xinjiang impacts little on the futures market prices.The corresponding countermeasures are put forward.The government should continuously perfect the construction of the futures market of cotton in Xinjiang,so as to exert the function of price discovery and the function of hedging,and promote the development of cotton industry in Xinjiang.

Cassava sector development in Cameroon: Production and marketing factors affecting price

Regular and available supply is the prerequisite of an effective and efficient commercialization process. Using multivariate regression analysis on field data, this research appraises the production and marketing factors that influence cassava market price. The production factors include cultivated area, planting material, yield, and farmers’ field schools;while farmers access to a paved road, having a telephone, the transportation costs of fresh roots, the level of root perishability, and the prices of rice and maize stand as marketing factors. The results show that farmers who attended farmers’ field school adopted improved planting materials, propagated them in their localities and the yields in these communities increased significantly. The farm size also has a significant influence on the availability of fresh roots. On the marketing side, transportation costs, access to a paved road, the prices of rice and maize significantly affect cassava’s market price and tighten the relationship between producers and marketers. We conclude that to increase fresh roots supply, roads leading to cultivating areas should be paved, better transportation provided, communication costs reduced, even distribution of planting materials and appropriate warehouses.

NECESSARY AND SUFFICIENT CONDITION FOR THE EXISTENCE OF A NONNEGATIVE EQUILIBRIUM PRICE VECTOR IN THE CAPITAL MARKET WITH SHORT-SELLING

For the capital market satisfying standard assumptions that are widely adopted in the equilibrium analysis,a necessary and sufficient condition for the existence and uniqueness of a nonnegative equilibrium price vector that clears the mean-variance capital market with short sale allowed is derived.Moreover,the given explicit formula for the equilibrium price shows clearly the relationship between prices of assets and statistical properties of the rate of return on assets,the desired rates of return of individual investors as well as other economic quantities.The economic implication of the derived condition is briefly discussed.These results improve the available results about the equilibrium analysis of the mean-variance market.

Comparison of ARIMA and ANN Models Used in Electricity Price Forecasting for Power Market

In power market, electricity price forecasting provides significant information which can help the electricity market participants to prepare corresponding bidding strategies to maximize their profits. This paper introduces the models of autoregressive integrated moving average (ARIMA) and artificial neural network (ANN) which are applied to the price forecasts for up to 3 steps 8 weeks ahead in the UK electricity market. The half hourly data of historical prices are obtained from UK Reference Price Data from March 22nd to July 14th 2010 and the predictions are derived from a sliding training window with a length of 8 weeks. The ARIMA with various AR and MA orders and the ANN with different numbers of delays and neurons have been established and compared in terms of the root mean square errors (RMSEs) of price forecasts. The experimental results illustrate that the ARIMA (4,1,2) model gives greater improvement over persistence than the ANN (20 neurons, 4 delays) model.

Duration Dependence in Housing Price Market: A Metro Level Test in United States

Duration dependence affects the dynamics of multi sate time to event outcomes. In this paper we are testing if a contraction or an expansion state for the housing price is duration dependent on previous states lengths. This test has implications for explaining the dynamics and the predictability of the housing prices in subsequent spells of contraction/expansion. The test is carried on using a discrete time duration model. This research shows that federal fund rate has strong effect on duration of both expansion and contraction. The analysis is also showing that while for both contraction and expansion spells we observe duration dependence, the risk of exiting from either spell at the beginning of the spell is practically flat for the first five to six years in the expansion spells and between seven and eight years in the contraction spells. After these periods the risk of exiting an expansion spell is increasing but in a non-monotone way, while for the contraction spell the risk of exiting the state is increasing in a monotone way, making the contraction periods easier to predict than the expansion periods.

Seminar on“Cotton Price and Market”Outlook and Expectation for 2011

Sponsored by Cotton Council International and co-organized by the Hong Kong Association of Textile Bleachers,Dyers,Printers and Finishers and the Hong Kong Cotton Spinners Association,the seminar on"Cotton Price and Market:Outlook and Expectation for 2011"was held at the Clothing

Cotton Market Fundamentals ＆ Price Outlook

Recent price movement All benchmark prices except the CC Index increased over the past month.Prices for the March NY futures contract surged in late December,rising from75 cents/lb to just below 80 cents/lb.Following that round of increases,

Cotton Market Fundamentals ＆ Price Outlook

Recent price movement Several benchmark prices increased over the past month.NY futures,the A Index,and Pakistani spot prices all rose a few cents/lb,while the CC Index and Indian spot prices were stable.·The March NY futures contract was the most actively traded contract over the past month.Prices for March futures trended higher from late November through early December,

商品期货市场套期保值与价格发现功能关联机制研究——基于市场流动性与参与者结构视角

基于市场流动性与参与者结构视角,探究在商品期货市场发展中套期保值与价格发现功能关联机制,并使用2011年1季度—2022年4季度大连商品交易所12个品种的面板数据进行实证检验。结果表明:期货市场价格发现功能通过市场流动性中介促进套期保值功能,而参与者结构调节期货市场功能关联强度;农产品期货市场的套期保值功能发挥整体较强,工业品期货市场的功能关联较强。为此,建议期货市场在提高市场流动性的同时优化参与者结构,进一步促进期货市场功能协同发挥。

加速调整变革的国际石油市场

2023年国际石油市场总体呈现油价地缘溢价消减但波动加剧,需求加快复苏但分化加剧,供给侧管理强化但博弈加大,市场与贸易格局加快重塑4个新特征。2024年宏观经济与地缘政治走势、新能源汽车发展节奏、“欧佩克+”产量政策与美联储货币政策等将继续影响和改变着国际石油市场。预计2024年国际石油市场总体供需宽松,国际油价仍处强势周期,油价中枢较上年或略有下移,但仍处中高位水平,不排除油价大涨大跌的可能。中国油气行业应更好发挥产业、市场、技术、贸易等优势,助力全球石油市场稳定。中国油气企业要加强科技创新和管理变革,坚持低成本发展,不断提升竞争力;更好发挥好上下游一体化和国内外资源市场联动优势,用好跨周期、逆周期调节工具,更好应对不确定的外部环境。

Major Determinants of Prices Increase of Building Materials on Ghanaian Construction Market

Prices increase of building materials is a common trend in both developed and developing countries. The prices increase of building materials results in high cost of housing.The aim of this study is to identify the major determinants of prices increase of building materials on Ghanaian construction market, and also to assess the relationship between the independent variables of the prices increase. A five-point Likert scale was used for the study;from strongly disagree (1) to strongly agree (5). The variables in the questionnaire were ranked based on the response of the participants of the study using Mean Response Analysis (MRA) statistics. Spearman correlation matrix was used to determine the relationship between the variables of prices increase of building materials. Crude oil prices, energy cost, local taxes and charges, cost of fuel and power supply, high running cost, high prices of raw materials, cost of transportation and the high cost of labour were found to be the major determinants of prices increase of building materials on Ghanaian construction market. The study further found multicollinearity relationship among variables of prices increase of building materials, of which the highest correlation coefficient was found between fast-growing demand due to high global economic growth and over-dependence on imported building materials. The study recommends that further research should be carried out to determine the control measures of increase prices of building materials in Ghana.

考虑市场影响的风电厂与储能运营商联合调度策略研究

本文基于拥有风力发电厂与电力储能设备的电力运营商视角,考虑运营商参与电力交易会对市场电价产生影响的基础上,通过动态规划,以利润最大化为目标,研究其最优联合调度策略。研究表明:在考虑充放电效率以及运营成本时,存在三个最优参考点将储能设备中的可用库存空间分为四个区域,进而对应四个不同的决策活动:将风电和从市场上购买的电力全部存入储能系统;将部分风电存入储能系统并将剩余部分销售到市场;售出全部风电不向储能设备中存入电量;将所有的风电和储能系统中的部分电量销售至电力市场。运营商可根据当前时刻风力发电量和储能设备中的电量与最优参考点之间的大小关系,得到相应的最优电力调度策略及其交易量。此外,本文研究发现随着市场影响强度的增大,运营商的利润随之减小,因此运营商应在其市场影响强度与最优电力交易量之间做好权衡。本研究对运营商的电力调度具有重要的指导意义和实际应用价值。