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Impacts of gasoline price on price of barley in the province of Alberta, Canada.
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- Author(s) / Creator(s)
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This study investigates the connection between Alberta, Canada's gasoline price and the price of barley. Understanding the effects of gasoline price changes is essential given the growing worries about food prices, particularly for commodities like barley. The study aims to clarify this relationship and offer information to stakeholders and policymakers. The paper uses a multivariate time series model, Vector Auto Regression. The study investigates how gasoline costs affect barley prices by examining the price trends of barley in Alberta.
The results revealed an increasing trend of barley price, although there were price fluctuations as the year progresses. Results from the VAR-X model shows a positive correlation between barley own price of the first previous month and the current price of barley. Which suggest that the previous price of barley has relevant information to determine the current price of barley. Gasoline price on the other hand shows a significant effect on barley price with it second previous month price. This also implies that, there exist relevant information in the second previous month price of gasoline to estimate the current price of barley. -
- Date created
- 2023-08-01
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- Subjects / Keywords
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- Type of Item
- Research Material