International fish trade and exchange rates : an application to the trade with salmon and fishmeal
Journal article, Peer reviewed
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OriginalversjonTveterås, S.; Asche, F. (2008) International fish trade and exchange rates : an application to the trade with salmon and fishmeal. Applied Economics, 40(13), pp. 1745–1755 10.1080/00036840600905134
International fish trade is growing, and fish exports represent an important source of foreign currency for many countries. For a few countries the exports are also an essential part of the economy. We revisit the seminal paper of Richardson (1978) that addresses the issue of exchange rate passthrough in commodity markets, but in a multivariate cointegration framework. The multivariate cointegration framework allows us to test common assumptions like exchange rate pass-through, leading price, central markets, and exogeneity of exchange rates. This approach is particularly suited when studying markets for primary products. We provide empirical examples using salmon imports to Japan and fish meal exports from Peru to Germany
This is an Accepted Manuscript of an article published in Applied Economics in 2008 (online on 11 April 2011), available online: http://www.tandfonline.com/10.1080/00036840600905134.