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.
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Document Type: Research Article
Agricultural and Resource Economics Department, University of California at Berkeley, USA and Arkleton Centre, University of Aberdeen, UK
Department of Agricultural and Resource Economics, North Carolina State University, Campus Box 8109, Raleigh, NC 27695-8109, USA
Publication date: 2003-12-15
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