Abstract The U.S. catfish aquaculture industry has undergone a continuous and alarming contraction over the last 15 years or so. The rapid increase in cheaper imports, which has coincided with the decline in the domestic catfish farming industry, is being blamed by industry commentators as a major cause of the decline. The impact of increased market share of imports on prices is of particular significance as prices are fundamental to the market process. We use an innovative approach to understand the impact of import shares on the linkage among prices in the U.S. catfish market. We divide the time-series data on market prices into high-import and low-import regimes using empirical techniques and analyze the difference in responsiveness of prices to shocks in the two regimes. Our main finding is that the domestic prices at the farm and processor level have become more responsive to shocks in each other and in themselves in the high-import regime.

中文翻译：

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进口渗透率与价格关系：美国鲶鱼市场的实证分析

摘要 美国鲶鱼养殖业在过去 15 年左右的时间里经历了持续且令人担忧的收缩。与国内鲶鱼养殖业下滑同时出现的廉价进口产品的迅速增加，被行业评论家指责为下滑的主要原因。进口市场份额增加对价格的影响尤为重要，因为价格是市场进程的基础。我们使用创新方法来了解进口份额对美国鲶鱼市场价格之间联系的影响。我们使用经验技术将市场价格的时间序列数据分为高进口和低进口两种机制，并分析两种机制中价格对冲击的反应差异。