Asymmetric price transmission in the distribution channels of pork: Focusing on the effect of policy regulation of Sunday sales by hypermarkets in Korea.

IF 1.9 4区经济学 Q2 AGRICULTURAL ECONOMICS & POLICY

Agricultural Economics-Zemedelska Ekonomika Pub Date : 2020-11-27 DOI:10.17221/254/2020-agricecon

Heesun Lim, B. Ahn

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引用次数: 4

Abstract

In this paper, we investigate whether there exists market inefficiency in the distribution channel of pork by estimating a developed partial adjustment model that captures the asymmetric price transmission from wholesale to retail prices. The estimation results show that market efficiency exists for the wholesale and two types of retail markets in the distributional channel of pork in Korea. The government's regulation on Sunday sales by hypermarkets plays a significant role in increasing market efficiency, forcing more competition among hypermarkets, and changing the structure of asymmetric price transmission from wholesale to traditional market prices. The results suggest that the policy goal has been achieved in the traditional market by leading to a more efficient price forming due to a lessened degree of asymmetric price transmission from the wholesale price. Although market inefficiency has been maintained in the distribution channel between wholesale market and hypermarket, the behavior of price setting by hypermarkets has not been influenced by the policy.

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猪肉流通渠道中的不对称价格传导:以韩国大卖场周日销售政策调控效果为研究对象。

在本文中，我们通过估计一个已开发的部分调整模型来研究猪肉分销渠道是否存在市场无效，该模型捕捉了从批发到零售价格的不对称价格传递。估计结果表明，韩国猪肉流通渠道中批发和零售两类市场均存在市场效率。政府对大卖场周日销售的监管在提高市场效率、迫使大卖场之间展开更多竞争、改变从批发价格到传统市场价格的不对称价格传导结构方面发挥了重要作用。结果表明，由于批发价格的不对称传导程度降低，导致了更有效的价格形成，从而在传统市场中实现了政策目标。虽然批发市场和大卖场之间的分销渠道一直保持着市场的低效率，但大卖场的定价行为并未受到政策的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Agricultural Economics-Zemedelska Ekonomika Agricultural Economics & Policy-

CiteScore

4.30

自引率

4.50%

发文量

审稿时长

30 weeks

期刊介绍： An international peer-reviewed journal published under the auspices of the Czech Academy of Agricultural Sciences and financed by the Ministry of Agriculture of the Czech Republic. Published since 1954 (by 1999 under the title Zemědělská ekonomika).Thematic scope: original scientific papers dealing with agricultural subjects from the sphere of economics, management, informatics, ecology, social economy and sociology. Since 1993 the papers continually treat problems which were published in the journal Sociologie venkova a zemědělství until now. An extensive scope of subjects in fact covers the whole of agribusiness, that means economic relations of suppliers and producers of inputs for agriculture and food industry, problems from the aspects of social economy and rural sociology and finally the economics of the population nutrition. Papers are published in English.