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dc.contributor.authorZaklan, Aleksandaren
dc.contributor.authorCullmann, Astriden
dc.contributor.authorNeumann, Anneen
dc.contributor.authorvon Hirschhausen, Christian R.en
dc.date.accessioned2009-12-15-
dc.date.accessioned2010-02-04T13:07:00Z-
dc.date.available2010-02-04T13:07:00Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x956en
dc.subject.jelL11en
dc.subject.jelQ41en
dc.subject.jelC22en
dc.subject.ddc330en
dc.subject.keywordSteam coalen
dc.subject.keywordmarket integrationen
dc.subject.keywordmultivariate cointegrationen
dc.subject.stwKohlenmarkten
dc.subject.stwMarktintegrationen
dc.subject.stwGlobalisierungen
dc.subject.stwAußenhandelen
dc.subject.stwTransportlogistiken
dc.subject.stwTransportkostenen
dc.subject.stwKohleen
dc.subject.stwPreisen
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.titleThe globalization of steam coal markets and the role of logistics: an empirical analysis-
dc.type|aWorking Paperen
dc.identifier.ppn614989701en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp956en

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