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Australian Economic Papers - 2024 - Vatsa - Does agricultural trade respond asymmetrically to oil price shocks Evidence1.97 MB
Published VersionCC BY-NC-ND V4.0, Open Access
Journal article
Does agricultural trade respond asymmetrically to oil price shocks? Evidence from New Zealand
Australian Economic Papers, Vol.63(4), pp.553-569
2024
Abstract
Do rising oil prices affect agricultural trade differently from falling oil prices? We answer this question using data on New Zealand, a net importer of oil and a net exporter of agricultural commodities. We consider a disaggregated approach, analysing exports and imports of five key commodity classes; nonlinear autoregressive lag models are employed to conduct the analysis. We find considerable evidence suggesting asymmetries in the effects of oil price shocks on agricultural trade in the long and the short run. Furthermore, in the long run, agricultural exports and imports appear to be largely insensitive to foreign and domestic real income, respectively; there is limited evidence for imports and exports being associated with the real effective exchange rate. In the short run, however, income and exchange rates are associated with imports and exports.
Details
- Title
- Does agricultural trade respond asymmetrically to oil price shocks? Evidence from New Zealand
- Authors
- Puneet Vatsa (Corresponding Author) - Lincoln UniversityJungho Baek - University of Alaska Fairbanks
- Publication details
- Australian Economic Papers, Vol.63(4), pp.553-569
- Publisher
- John Wiley & Sons, Inc.
- Date published
- 2024
- DOI
- 10.1111/1467-8454.12338
- ISSN
- 1467-8454; 0004-900X
- Copyright note
- This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made. © 2024 The Authors. Australian Economic Papers published by John Wiley & Sons Australia, Ltd.
- Data Availability
- The data that support the findings of this study are openly available in Imports and exports tables at https://nzdotstat.stats.govt.nz/wbos/.
- Organisation Unit
- School of Business and Creative Industries
- Language
- English
- Record Identifier
- 991148837302621
- Output Type
- Journal article
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