Regional Integration of Nineteenth Century U.S. Egg Markets
运用多变量非对称阈值向量误差修正模型，分析19世纪末美国鸡蛋市场的区域整合程度，发现阈值行为刻画了市场间的空间价格联系。
Multivariate asymmetric threshold vector error correction models are applied to a historical analysis of the regional integration of U.S. markets for eggs at the turn of the nineteenth century. Two general approaches to the selection of the thresholds are considered. The first criterion ignores the cross equation correlation while the latter explicitly accounts for it. Our results suggest that threshold behaviour characterises spatial price linkages between the markets analysed.