Article
A Note on Exogeneity and Endogeneity of Prices in Selected Cattle Markets
Economics Research Institute Study Paper
Document Type
Article
Publisher
Utah State University Department of Economics
Publication Date
1-1-1997
Rights
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Abstract
Lead/lag relationships were identified for six cattle classes using Cattle-Fax data, for twelve markets. The relationships were either endogeneity/endogeneity (feedback), endogeneity/exogeneity (unidirectional), exogeneity/exogeneity (no causality) relationships. Feedback relationships were the most common, while only one case of no causality was identified. The long-run equilibrium was mainly driven by prices with a feedback relationship with all or most of the prices. Generally, markets with large cattle numbers led the others, and had more influence on the long-run equilibrium with a few exceptions.
Citation Information
Gertrude S. Muwanga and Donald L. Snyder. "A Note on Exogeneity and Endogeneity of Prices in Selected Cattle Markets" Economics Research Institute Study Paper Vol. 23 (1997) p. 1 - 22 Available at: http://works.bepress.com/donald_snyder/135/