Price Transmission Analysis: the Case of Milk Products in Russia
| Autor: | Sergei Kharin |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
TheoryofComputation_MISCELLANEOUS
Cointegration Economics Econometrics and Finance (miscellaneous) Geography Planning and Development TheoryofComputation_GENERAL Management Monitoring Policy and Law Agricultural and Biological Sciences (miscellaneous) law.invention Vector autoregression Transmission (mechanics) Granger causality Milk products law Economics Market price Econometrics Market power Empirical evidence |
| Zdroj: | Agris on-line Papers in Economics and Informatics. 10:15-23 |
| ISSN: | 1804-1930 |
| Popis: | This paper investigates vertical price transmission along the milk supply chain in the Russian market using a vector autoregression model. Monthly farm-gate and retail prices were used in the analysis. Using cointegration technique, we find no empirical evidence for cointegration between farm-gate and retail prices. We show that there is bidirectional Granger causality from farm to retail prices and vice versa. However, response of the farm-gate price to a change in retail price is greater and slightly longer than price response of the retail price to a change at the farm level. The results support the assumption that price changes are not transmitted efficiently from one level to another. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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