This paper applies both the Engle-Granger and Johansen cointegration test procedures to determine the existence of market linkage among high-valued (salmon and turbot) and low-valued (cod) fish species using monthly average wholesale price data recorded on the Paris fish market. We find that the price of salmon is determined exogenously to the system of prices examined and that the market for salmon is not linked to the markets for turbot or cod.
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Gordon et al. (1993) studied this question.
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