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Modeling The Farm-Retail Price Spread For Beef

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  • Wohlgenant, Michael K.
  • Mullen, John D.

Abstract

A new model for the farm-retail price spread, which accounts for both farm supply and retail demand changes, is introduced. This model is applied to beef, and its empirical performance relative to the markup pricing formulation is evaluated using nonnested testing procedures. The results are consistent with theory and indicate the markup pricing model is misspecified.

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File URL: http://purl.umn.edu/32229
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Bibliographic Info

Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

Volume (Year): 12 (1987)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:wjagec:32229

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Web page: http://waeaonline.org/
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Related research

Keywords: Demand and Price Analysis; Livestock Production/Industries;

References

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  1. Moschini, GianCarlo & Meilke, Karl D., 1984. "Parameter Stability And The U.S. Demand For Beef," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(02), December.
  2. Godfrey, L. G. & Pesaran, M. H., 1983. "Tests of non-nested regression models: Small sample adjustments and Monte Carlo evidence," Journal of Econometrics, Elsevier, vol. 21(1), pages 133-154, January.
  3. Dufour, Jean-Marie, 1982. "Recursive stability analysis of linear regression relationships: An exploratory methodology," Journal of Econometrics, Elsevier, vol. 19(1), pages 31-76, May.
  4. Ashley, R & Granger, C W J & Schmalensee, R, 1980. "Advertising and Aggregate Consumption: An Analysis of Causality," Econometrica, Econometric Society, vol. 48(5), pages 1149-67, July.
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Citations

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Cited by:
  1. Robert Romain & Maurice Doyon & Mathieu Frigon, 2002. "Effects of state regulations on marketing margins and price transmission asymmetry: Evidence from the New York City and upstate New York fluid milk markets," Agribusiness, John Wiley & Sons, Ltd., vol. 18(3), pages 301-315.
  2. Tey, (John) Yeong-Sheng & Randy, Stringer & Wendy, Umberger, 2009. "Farm-retail price spread for pork in Malaysia," MPRA Paper 14532, University Library of Munich, Germany.
  3. Faminow, Merle D. & Laubscher, J. M., 1991. "Empirical testing of alternative price spread models in the South African maize market," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 6(1), October.
  4. Oral Capps Jr. & Sergio Colinā€Castillo & Manuel A. Hernandez, 2013. "Do Marketing Margins Change with Food Scares? Examining the Effects of Food Recalls and Disease Outbreaks in the U.S. Red Meat Industry," Agribusiness, John Wiley & Sons, Ltd., vol. 29(4), pages 426-454, 09.
  5. Griffith, Garry R. & Moore, Walter B., 1991. "Livestock Production Policies And Meat Processing Margins: The Case Of New Zealand, 1967-1988," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(01), April.
  6. Traub, Lulama Ndibongo & Jayne, Thomas S., 2004. "The Effects of Market Reform on Maize Marketing Margins in South Africa," Food Security International Development Working Papers 54570, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  7. Li, Chenguang & Sexton, Richard J., 2013. "Grocery-Retailer Pricing Behavior with Implications for Farmer Welfare," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(2), August.
  8. Traub, Lulama Ndibongo & Jayne, T.S., 2008. "The effects of price deregulation on maize marketing margins in South Africa," Food Policy, Elsevier, vol. 33(3), pages 224-236, June.
  9. Tey, (John) Yeong-Sheng, 2009. "Symmetry in farm-retail price transmission: pork in Malaysia," MPRA Paper 16693, University Library of Munich, Germany.

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