In this paper we test for the presence of fractional integration, or long memory, in the monthly fisheries prices of Cornwall (UK) using Autoregressive Fractionally Integrated Moving Average (ARFIMA) models. We consider data from ten main species over the period 1992-2006. The results show strong evidence of long memory for 7 species (Anglerfish, Cod, Crabs, Dogfish, Hake, Lemon Sole and Sole). Three species (Haddock, Mackerel and Plaice) show a weak evidence of long memory. It is concluded that fish prices in Cornwall persist over a long period of time. These findings are helpful to fisheries managers, fisheries economists and researchers dealing with fish prices.
|Number of pages||6|
|Journal||International Journal of Economic Perspectives|
|Publication status||Published - 2007|