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Price transmission and asymmetric adjustment in the Spanish dairy sector

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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

DOI: http://dx.doi.org/10.1080/00036840310001628774

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

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