@article{Goodwin:103715,
      recid = {103715},
      author = {Goodwin, Barry K. and Holt, Matthew T. and Onel, Gulcan  and Prestemon, Jeffrey P.},
      title = {Copula-Based Nonlinear Models of Spatial Market Linkages},
      address = {2011-05-03},
      number = {321-2016-11044},
      series = {Selected Paper},
      pages = {34},
      month = {May},
      year = {2011},
      note = {Replaced with revised version of paper 06/28/11.},
      abstract = {An extensive empirical literature has addressed a wide  array of issues pertaining to
price linkages over space and  across time. Empirical models of price linkages have  been
used to measure market power and to characterize the  operation of markets that are
separated by space, time, and  product form. The long history of these empirical  models
extends from simple tests of price correlation, to  conventional regression tests, to modern
time series models  that account for nonstationarity, nonlinearities, and  threshold
behavior in market linkages. This paper proposes  an entirely different and potentially
novel approach to  analyzing these same types of time series data in a  nonlinear fashion.
Copula-based models that consider the  joint distribution of prices separated by
space are  developed and applied to weekly prices for important lumber  products at
geographically distinct markets. In particular,  we consider prices taken from weekly
editions of the Random  Lengths publication for homogeneous OSB products.},
      url = {http://ageconsearch.umn.edu/record/103715},
      doi = {https://doi.org/10.22004/ag.econ.103715},
}