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英文文献：Market Integration Test For Pacific Egg Markets-太平洋鸡蛋市场的市场整合测试
英文文献作者：Liu, Qinghua,Wang, H. Holly
英文文献摘要：
This paper uses of Johansen's multivariate cointegration test to test for egg market integration of six Pacific states, Washington, Idaho, Oregon, California, Nevada, and Arizona. We conclude that eggs from these states substitute for each other to some degree, and arbitrage possibilities through trade bind the egg prices. In addition, the Law of One Price (LOP), the case of perfect integration, is examined by testing the linear combination of cointegration vectors. Test results show that the LOP is not satisfied even though the egg markets in the six Pacific states are highly integrated. Arizona egg prices, California egg prices, and Washington egg prices play dominant roles on the Pacific egg market in the long run.
摘要本文利用Johansen多元协整检验，对太平洋六个州、华盛顿州、爱达荷州、俄勒冈州、加利福尼亚州、内华达州和亚利桑那州的鸡蛋市场整合进行检验。我们得出结论，来自这些状态的鸡蛋在某种程度上可以相互替代，通过贸易套利的可能性约束鸡蛋的价格。此外，通过检验协整向量的线性组合，研究了完全积分情况下的一价定律。测试结果显示，尽管太平洋六个州的鸡蛋市场高度整合，但罗布泊并不满意。亚利桑那的鸡蛋价格，加利福尼亚的鸡蛋价格和华盛顿的鸡蛋价格在太平洋的鸡蛋市场长期起主导作用。
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