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dc.contributor.authorZaklan, Aleksandaren_US
dc.contributor.authorCullmann, Astriden_US
dc.contributor.authorNeumann, Anneen_US
dc.contributor.authorvon Hirschhausen, Christian R.en_US
dc.date.accessioned2009-12-15en_US
dc.date.accessioned2010-02-04T13:07:00Z-
dc.date.available2010-02-04T13:07:00Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/29827-
dc.description.abstractIn this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight rates, covering the period December 2001 until August 2009 at weekly frequency. We then test whether the demand and supply side components of steam coal trade are consistently integrated with one another. In addition, export and import prices as well as freight rates for individual trading routes, across regions and globally are combined. We find evidence of significant yet incomplete integration. We also find heterogeneous short-term dynamics of individual markets. Furthermore, we examine whether logistics enter coal price dynamics through transportation costs, which are mainly determined by oil prices. Our results suggest that this is generally not the case.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 956en_US
dc.subject.jelL11en_US
dc.subject.jelQ41en_US
dc.subject.jelC22en_US
dc.subject.ddc330en_US
dc.subject.keywordSteam coalen_US
dc.subject.keywordmarket integrationen_US
dc.subject.keywordmultivariate cointegrationen_US
dc.subject.stwKohlenmarkten_US
dc.subject.stwMarktintegrationen_US
dc.subject.stwGlobalisierungen_US
dc.subject.stwAußenhandelen_US
dc.subject.stwTransportlogistiken_US
dc.subject.stwTransportkostenen_US
dc.subject.stwKohleen_US
dc.subject.stwPreisen_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.titleThe globalization of steam coal markets and the role of logistics: an empirical analysisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn614989701en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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