Efecto de transmisión de precio del mercado del maíz al mercado de la tortilla en México* Transmission effect of price from the maize market to tortilla market in Mexico

In the present investigation, the market price transmission of maize to tortilla market, in Mexico was studied through an econometric model. In order to obtain the relationship in these two markets, two time series on prices was selected: weighted average price of maize and the weighted average price of tortillas, comprising January 2007 to June 2012. First was applied the unit root test to the series, we observed that not reject unit root; that is, they are not stationary. Under this evidence, we proceeded to the implementation of the Akaike information criterion, to find the best lag in self-regressive vector representation and, be able to apply the test of co-integration by Johansen. So, the null hypothesis that the series are not co-integrated against the alternative that they are co-integrated arises. The results indicate a transmission unit elasticity, between the two sets of prices.