Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2019.01.010 |
Spatial Distribution of the International Food Prices: Unexpected Heterogeneity and Randomness | |
Distefano, Tiziano; Chiarotti, Guido; Laio, Francesco; Ridolfi, Luca | |
2019-05-01 | |
发表期刊 | ECOLOGICAL ECONOMICS
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ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2019 |
卷号 | 159页码:122-132 |
文章类型 | Article |
语种 | 英语 |
国家 | Italy |
英文摘要 | Global food prices are typically analysed in a time-series framework. We complement this approach by focusing on the spatial price dispersion of the country-pair bilateral trade in the international food trade network (IFTN), for ten relevant commodities. The main purposes are to verify if the Law of One Price (LOP) holds and to investigate the emergence of randomness in the price-formation mechanism. We distinguish between the "internal" variance, which indicates the magnitude of price discrimination, and the "external" variance, that is a measure of price dispersion. We find that, for some commodities, spatial price dispersion is remarkable and persistent over time (i.e., failure of the LOP) and that there exists a strict correlation between price spikes and peaks in spatial price variability. We test whether the price distribution can be replicated through a stochastic process of extraction. Surprisingly, the actual distribution of prices, for several commodities, is well described by a random distribution. Then, the process of data aggregation is not neutral because the information at the micro-level scale might be lost at the macro-scale, due to the complexity of the IFTN. Finally, we discuss some possible economic explanations of these outcomes and the main methodological, environmental, and policy consequences. |
英文关键词 | Agricultural markets International trade Stochastic process Price dispersion Law of one price |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000462105700013 |
WOS关键词 | TRADE ; WATER ; MARKET ; ENERGY ; LAW ; CONVERGENCE ; DISPERSION ; BEHAVIOR ; MARKUPS ; POWER |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/182669 |
专题 | 资源环境科学 |
作者单位 | Politecn Torino, Dept Environm Land & Infrastruct Engn, Corso Duca Abruzzi 24, I-10129 Turin, Italy |
推荐引用方式 GB/T 7714 | Distefano, Tiziano,Chiarotti, Guido,Laio, Francesco,et al. Spatial Distribution of the International Food Prices: Unexpected Heterogeneity and Randomness[J]. ECOLOGICAL ECONOMICS,2019,159:122-132. |
APA | Distefano, Tiziano,Chiarotti, Guido,Laio, Francesco,&Ridolfi, Luca.(2019).Spatial Distribution of the International Food Prices: Unexpected Heterogeneity and Randomness.ECOLOGICAL ECONOMICS,159,122-132. |
MLA | Distefano, Tiziano,et al."Spatial Distribution of the International Food Prices: Unexpected Heterogeneity and Randomness".ECOLOGICAL ECONOMICS 159(2019):122-132. |
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