Dynamic relationships of rice import prices in Europe
分析了美国、泰国和阿根廷出口到欧洲的大米在荷兰鹿特丹的周价格动态关系，发现阿根廷和美国价格联动，对泰国价格变化反应快，而泰国价格反应慢，且所有价格在信息处理上存在低效率。
Dynamic relationships among weekly prices at Rotterdam, Netherlands, of rice imported into Europe from the United States, Thailand, and Argentina are analysed. A theoretical model of price determination is developed to explain the hypothesised direction of dynamic influences. Causality tests among price series are performed. Dynamics of price relationships are then analysed using dynamic multipliers. Argentinian and United States prices move together. These two prices respond quickly (one to two weeks) to changes in Thai prices. Thai prices react slowly (10 to 20 weeks) to changes in Argentinian and United States prices. All prices are inefficient in processing information reflected in their own past prices and in the other price series. The analysis indicates that the degree of inefficiency is low.