Spatial Market Arbitrage and Threshold Cointegration
使用多元方法检验阈值协整和非线性协整，发现北卡罗来纳州玉米和大豆价格在空间分离市场中不会持续偏离一价定律。
Goodwin and Piggott reported that corn and soybean prices in spatially separated markets in North Carolina exhibited threshold cointegration and that commodity prices in different markets may persistently diverge. Here, a multivariate approach is used to test for threshold cointegration and nonlinear cointegration. The results suggest that departures from the law of one price do not persist indefinitely.