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Price transmission and asymmetric adjustment in the Spanish dairy sector

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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

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: 2003-12-15

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