Asymetric Price Transmission in the Spanish Lamb Sector

This paper aims to investigate the non-linear adjustments of prices between farm and retail prices in the lamb sector in Spain. The methodology used is based on the multivariate approach to specify and estimate a three-regime Threshold Autoregressive Model. Results indicate that in the long-run price transmission is perfect and any supply or demand shocks are fully transmitted along the marketing chain. In the short-run, price adjustments between the farm and the retail levels are asymmetric and are representative of a demand-pull transmission mechanism. On the other hand, retailers benefit from any shock, whether positive or negative, that affects supply or demand conditions.


Issue Date:
2005
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/24631
Total Pages:
17
Series Statement:
Contributed Paper




 Record created 2017-04-01, last modified 2017-08-24

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