Food scares, market power and price transmission: the UK BSE crisis

Autor:	Steve McCorriston, A. J. Rayner, C. W. Morgan, Tim Lloyd
Rok vydání:	2006
Předmět:	Economics and Econometrics Transmission (mechanics) Margin (finance) law Economics Market power International economics Monetary economics Agricultural and Biological Sciences (miscellaneous) Differential impact law.invention
Zdroj:	European Review of Agricultural Economics. 33:119-147
ISSN:	1464-3618 0165-1587
Popis:	This paper is concerned with the impact of food scares, principally the BSE crisis in the UK, and focuses on price transmission in vertically related markets. We show that if market power has an effect on the farm-retail margin, this determines the specification of the cointegrating relationship and thus provides a test of market power. The results for the UK beef chain suggest that we cannot reject the importance of market power. The impact of the BSE crisis on farm prices is found to be more than double that on retail prices, thus corroborating public concerns regarding a differential impact of food scares on retailers and producers.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::3837f83d6a6b7876218285d2fab72653 https://doi.org/10.1093/erae/jbl001 Zobrazit plný text záznamu