Price transmission and asymmetric adjustment in the Spanish dairy sector
Abstract:Asymmetric threshold vector error correction models are applied to monthly price data to analyse price relationships and patterns of transmission among farm and retail markets for a variety of dairy products in Spain. The results suggest that asymmetries affect a conspicuous part of the raw milk processed in Spain. Implications for the organizational structure of Spanish dairy markets are offered.
Document Type: Research Article
Affiliations: 1: Agricultural and Resource Economics Department, University of California at Berkeley, USA and Arkleton Centre, University of Aberdeen, UK 2: Department of Agricultural and Resource Economics, North Carolina State University, Campus Box 8109, Raleigh, NC 27695-8109, USA
Publication date: December 15, 2003