Price Transmission, Threshold Behavior, and Asymmetric Adjustment in the U.S. Pork Sector
By Barry K. Goodwin, Daniel C. Harper. Journal of Agricultural and Applied Economics, 2000
188 citations recorded by the source corpus.
Abstract The US pork sector has experienced many significant structural changes in recent years. Such changes may have influenced price dynamics and transmission of shocks through marketing channels. We investigate linkages among farm, wholesale, and retail markets using weekly price data for the period covering 1987 through 1998. Our analysis uses a threshold cointegration model that permits asymmetric adjustment to positive and negative price shocks. Our results reveal important asymmetries. Our results are consistent with existing literature which has determined that price adjustment patterns are unidirectional and that information tends to flow from farm, to wholesale, to retail markets.
Subfields: Economics and Econometrics, General Agricultural and Biological Sciences
View Paper: https://www.semanticscholar.org/paper/7e0a81ba230c311dc4a3ff16d81fb086008b1f49
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In Economics and Econometrics
- B. Hansen
- S. Cramon-Taubadel
- Jochen Meyer
- Xinyu Zhang
- Donghyeon Kim
- Liangjun Su
- Guohua Zou
- L. Godfrey
In General Agricultural and Biological Sciences
Citations in the corpus
- Threshold autoregression in economics (2011, background): “For example, applications to the price of pork can be found in Goodwin and Harper [35] and Absulai [1].”
- Asymmetric Price Transmission: A Survey (2004, methodology): “Based on methods proposed by Balke & Fomby (1997) and Tsay (1989), Goodwin & Holt (1999), Goodwin & Harper (2000) and Goodwin & Piggott (2001) test for thresholds such as those depicted in diagram 3.”
- Vertical price transmission in the US beef sector: Evidence from the nonlinear ARDL model (2016, unknown): “…agri-food chains (e.g. Wolffram, 1971; Houck, 1977; Ward, 1982; Kinnucan and Forker, 1987; von Cramon-Taubadel and Fahlbusch, 1994; Zhang, et al., 1995; Tiffin and Dawson, 2000; Goodwin and Harper, 2000; Abdulai, 2002; Serra and Goodwin, 2003; Lass, 2005; Ben-Kaabia and Gil, 2007; Gervais, 2011).”