The Chilean wheat market and its price support mechanism : a spatial market integration analysis

This research investigates the spatial market integration of the Chilean wheat market in relation with its most representative international markets by using a vector error correction model (VECM) and how a price support policy, as a price band, affect it. The international market was characterized by two relevant wheat prices: PAN from Argentina and Hard Red Winter from the United States. The spatial market integration level, expressed in the error correction term (ECT), allowed concluding that there is a high integration degree among these markets with a variable influence of the price band mechanism mainly related with its estimation methodology. Moreover, this paper showed that Chile can be seen as price taker as long as the speed of its adjustment to international shocks, being these reactions faster than in the United States and Argentina. Finally, the results validated the "Law of the One Price", which assumes price equalization across all local markets in the long run.

Mercado informal del suelo urbano en Córdoba

El presente artículo se basa en los primeros resultados de un proyecto de investigación, cuyo objetivo general es caracterizar los procesos económicos, legales, urbanos y sociales que se llevan adelante, y los productos que se obtienen a partir de la acción de las familias, en el mercado informal de suelo urbano de la ciudad de Córdoba. La importancia de este proyecto, radica en que la fuente de información esencial, surge de entrevistas cualitativas a ocupantes de villas y asentamientos.