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Title: Fractional integration analysis and its implications on profitability The case of the mackerel market in the Basque Country
Authors: Garcia, J.; Arteche, J.; Murillas, A.
Citation: FISHERIES RESEARCH, 2010, 106, 420-429
Abstract: This paper analyzes weekly prices for mackerel landed by the inshore fleet at the ports of the Basque Country in 1995-2008 using recently proposed econometric techniques applied to the fishing market The idea is to learn to what extent fishermen can pass on the effects of negative shocks (e g fuel price increases) to their ex-vessel prices This will give an idea of the profitability of the fishery in question To that end a cyclical ARFIMA model is fitted to the series analyzed then the impulse-response function is constructed Among other things the behaviour of this function shows that possible increases in production costs are not being passed on to prices which lowers the profitability of fishing In view of these results it is suggested that fishermen need to be able to pass the shocks that they suffer on to prices if the profitability of this fleet is to be assured (C) 2010 Elsevier B V All rights reserved
Keywords: Seasonality; Impulse-response function; Long memory; Fishing market; Mackerel; LONG-MEMORY PROCESSES; POWER PARITY PUZZLE; TIME-SERIES; UNIT-ROOT; NONSTATIONARY; INFERENCE; MODELS; TESTS
Issue Date: 2010
Publisher: ELSEVIER SCIENCE BV
Type: Article
Language: English
DOI: 10.1016/j.fishres.2010.09.015
URI: http://dspace.azti.es/handle/24689/704
ISSN: 0165-7836
Funder: University of the Basque Country
Basque Government Department of Agriculture Fisheries and Food
Spanish Ministry of Science and Technology [SEJ2007-61362/ECON, ECO2010-15332]
ERDF
Appears in Publication types:Artículos científicos



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