In this study, causalities among consumer goods price index （CPI）, cattle milk price, and buffalo milk price are researched for Turkey using data covering the period from January 2005 to December 2014. The cointegra...In this study, causalities among consumer goods price index （CPI）, cattle milk price, and buffalo milk price are researched for Turkey using data covering the period from January 2005 to December 2014. The cointegration analysis and vector error correction model （VECM） are used the casualty relationship among CPI, cattle milk piece, and buffalo milk piece in estimating. According to unit root test, results indicate that each of series is not stationary, when the variables are defined in levels; but that each of series is stationary, when the variables are defined in first differences. Johansen＇s cointegration test results show that there exists a long-run equilibrium relationship among CPI, cattle milk piece, and buffalo milk piece. It is concluded that there are three cointegration vectors in the data. Since the series are found to be cointegrated, it used VECM model to test the existence of causality. According to the VECM, there has been no long-term relationship among the variables. In the results of cointegration analysis, its relation between cattle milk piece and CPI is found to be negative. However, a positive relationship has been found between cattle milk price and buffalo milk piece.展开更多
This paper selects 20 countries from the major dairy producing continents such as Oceania,the Americas,Europe and Asia,for the comparative analysis of the purchase price of raw milk in the world. Based on the summariz...This paper selects 20 countries from the major dairy producing continents such as Oceania,the Americas,Europe and Asia,for the comparative analysis of the purchase price of raw milk in the world. Based on the summarization of general features of the world raw milk prices,this paper elaborates the fluctuations in the purchase price of raw milk in Oceania,the Americas,Europe and Asia,respectively,and carries out the comparative study of the gap between the domestic purchase price of raw milk and the world purchase price of raw milk.展开更多
文摘In this study, causalities among consumer goods price index （CPI）, cattle milk price, and buffalo milk price are researched for Turkey using data covering the period from January 2005 to December 2014. The cointegration analysis and vector error correction model （VECM） are used the casualty relationship among CPI, cattle milk piece, and buffalo milk piece in estimating. According to unit root test, results indicate that each of series is not stationary, when the variables are defined in levels; but that each of series is stationary, when the variables are defined in first differences. Johansen＇s cointegration test results show that there exists a long-run equilibrium relationship among CPI, cattle milk piece, and buffalo milk piece. It is concluded that there are three cointegration vectors in the data. Since the series are found to be cointegrated, it used VECM model to test the existence of causality. According to the VECM, there has been no long-term relationship among the variables. In the results of cointegration analysis, its relation between cattle milk piece and CPI is found to be negative. However, a positive relationship has been found between cattle milk price and buffalo milk piece.
基金Supported by National Natural Science Foundation(71203221)
文摘This paper selects 20 countries from the major dairy producing continents such as Oceania,the Americas,Europe and Asia,for the comparative analysis of the purchase price of raw milk in the world. Based on the summarization of general features of the world raw milk prices,this paper elaborates the fluctuations in the purchase price of raw milk in Oceania,the Americas,Europe and Asia,respectively,and carries out the comparative study of the gap between the domestic purchase price of raw milk and the world purchase price of raw milk.
