The Effects of Agricultural Price Instability on Vertical Price Transmission: A Study of the Wheat Chain in Italy
| Autor: | Massimo Peri, Elena Claire Ricci, Lucia Baldi |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Plant Science
010501 environmental sciences 01 natural sciences Asymmetric price transmission Market structure 0502 economics and business Econometrics Economics lcsh:Agriculture (General) price transmission health care economics and organizations 0105 earth and related environmental sciences Downstream (petroleum industry) Upstream (petroleum industry) wheat chain Cointegration business.industry food 05 social sciences food and beverages lcsh:S1-972 Chain (unit) structural breaks Transmission (telecommunications) Agriculture 050202 agricultural economics & policy business Agronomy and Crop Science Food Science |
| Zdroj: | Agriculture, Vol 9, Iss 2, p 36 (2019) Agriculture Volume 9 Issue 2 |
| Popis: | In this paper we analyse vertical price transmission in two typical Italian wheat chains, the pasta and bread chains, that were particularly affected by strong market fluctuations during the last years. After having split the chains into two sides, upstream (farm&ndash wholesale) and downstream (wholesale&ndash retail), we apply a cointegration methodology allowing for the presence of potentially unknown structural breaks. Then, for the different subperiods detected by the break dates, we investigate the evolving price transmission elasticities finding evidence of asymmetric price transmission. In the pasta chain, farmers seem to be price-takers, while in the bread chain price transmission is related to market structure and to the coexistence of small and large retailers. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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