DOES THE LAW OF ONE PRICE (LOP) HOLDS IN THE INTERNATIONAL BARLEY MARKETS
Bibliographic record
Abstract
A price time-series data of barley for a period of 49 years (1970-2019) sourced from the FAO database was used to determine the horizontal market integration of barley among some selected major market players in barley trade in the world. The chosen markets are Australia, Canada, Iran, Turkey and the USA based on the availability of up-to-date large span data. The collected data were analyzed using inferential statistics- unit root tests, co-integration tests, unrestricted vector autoregressive model, Granger causality test and impulse response function. The empirical evidence showed that the law of one price (LOP) exists among the selected markets i.e. there is perfect price communication among the markets in the long run, thus highly integrated. Besides, Australian and Canadian markets established a long-run equilibrium, thus have a stable price in the long run. Furthermore, the import and export hubs of barley in the trade are Canadian, USA and Turkey markets while Iranian and Australian markets are large consumer markets. The empirical evidence showed Canadian and USA markets to be the major players in the trade while the Australian market is a follower in the trade. All the selected markets have promising future prices with a little inflationary trend which will owe to supply fluctuation. The reinforcement of physical infrastructure, the use of ICTs and well-defined consistent agricultural policy/market initiatives would thus lead to the global creation of a single uniform economic market for barley.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.001 | 0.000 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".