Title: In search of attention in agricultural commodity markets
Authors: MIŠEČKA TOMÁŠCIAIAN PAVELRAJCANIOVA MIROSLAVAPOKRIVCAK JAN
Citation: ECONOMICS LETTERS vol. 184 p. 108668
Publisher: ELSEVIER SCIENCE SA
Publication Year: 2019
JRC N°: JRC117803
ISSN: 0165-1765 (online)
URI: https://www.sciencedirect.com/science/article/pii/S0165176519303337?via%3Dihub
http://publications.jrc.ec.europa.eu/repository/handle/JRC117803
DOI: 10.1016/j.econlet.2019.108668
Type: Articles in periodicals and books
Abstract: This paper investigates the impact of attention driven behaviour on agricultural commodity prices. We proxy attention driven behaviour using search queries for the commodity names in Google. We apply the ARDL model to estimate the impact of search queries on three internationally traded agricultural commodities – corn, wheat and soybean – using weakly data for the period 2009–2015. The results show that there is causal and permanent relationship between Google search queries and prices of corn and wheat confirming the presence of the attention driven behaviour. However, the estimates do not confirm this relationship for soybean price.
JRC Directorate:Sustainable Resources

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