价格传导:以英国和美国肉鸡市场为例

Q4 Agricultural and Biological Sciences

International Journal of Agricultural Resources, Governance and Ecology Pub Date : 2019-12-16 DOI:10.1504/ijarge.2019.10025849

H. Rose, Dimitrios Paparas, O. Tremma, L. D. Aguiar

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引用次数: 4

摘要

本研究的主要目的是确定价格传递不对称是否存在于英国和美国的肉鸡市场链中，作为市场效率的一个指标。考虑到显著的价格峰值及其对农产品市场的影响，例如2007年和2008年的粮食危机，价格传导主题的覆盖面有所增加。标准的经济理论认为，市场内部应该有完美的传导;因此，任何价格变化都将完全且即时地传递到链的其他层面。实证结果发现，英国零售价格以每月16%的速度恢复，而美国零售价格以每月15%的速度恢复。此外，结果表明，在价值链中不存在长期不对称，这表明市场是有效的。

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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Price transmission: the case of the UK and the USA broiler markets

The primary aim of this study is to identify whether price transmission asymmetry is present within the UK and the USA broiler market chains as an indicator of market efficiency. The topic of price transmission has seen increased amounts of coverage considering significant price peaks and their effect on agricultural markets, such as the food crises in 2007 and 2008. Standard economic theory suggests that there should be perfect transmissions within markets; thus, any price changes are passed on to the other levels of the chain completely and instantaneously. Empirical results found that the UK retailer price recovers at a rate of 16% per month, whilst the USA retailer prices returning at 15% per month rate. Additionally, results show that no long run asymmetry is present within the value chains suggesting that the market is efficient.

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来源期刊

International Journal of Agricultural Resources, Governance and Ecology Agricultural and Biological Sciences-Agronomy and Crop Science

CiteScore

0.90

自引率

0.00%

发文量

期刊介绍： IJARGE proposes and fosters discussion on the evolution and governance of agricultural resources, with emphasis on the implications that policy choices have on both the welfare of humans and the ecology of the planet. This perspective acknowledges the complexity of the agricultural sector as an interface between ecological and socio-economic processes operating in parallel over different space-time scales, as well as the reflexive characteristic of human systems.