@article{Chang:12929,
      recid = {12929},
      author = {Chang,   Hui-Shung (Christie)},
      title = {A Cointegration Analysis of Wool Prices},
      address = {2000},
      number = {1730-2016-140195},
      series = {Working Paper 2000-10},
      pages = {24},
      year = {2000},
      abstract = {Based on cointegration analysis and monthly data from  1976.8 to 1999.10, a long-run equilibrium relationship was  found to exist between prices for wools of 19 to 23  microns, despite the wool Reserve Price Scheme operated  until February 1991. Furthermore, the prices for 19, 20 and  21 micron wools were found to be weakly exogenous. The  latter result suggested that, although co-integrated,  prices for finer wools tended to be less volatile than  coarser wools. The implications are that wool producers  would enjoy more stable prices by producing finer wools and  that cross-hedging is possible given co-movements of  prices.},
      url = {http://ageconsearch.umn.edu/record/12929},
      doi = {https://doi.org/10.22004/ag.econ.12929},
}