The impacts of animal disease crises on the Korean meat market
AbstractEmploying the error correction method and historical decomposition with direct acyclic graphs, we quantify the impacts of domestic and overseas animal disease crises on the Korean meat market. We have the following findings: (a) the market partially recovered 16 months after the domestic foot-and-mouth outbreak (FMD) in 2000, and 13 months after the domestic avian influenza (AI) incidents and the U.S. bovine spongiform encephalopathy (BSE) discovery in 2003; (b) animal disease outbreaks had differentiated impacts by disease type and at different levels of meat supply chain. Retail price margin increased relative to the farm and wholesale levels; and (c) disease outbreaks caused changes of dynamic interdependence between prices by meat type at different levels of meat supply chain. Copyright (c)2008 International Association of Agricultural Economists.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by International Association of Agricultural Economists in its journal Agricultural Economics.
Volume (Year): 39 (2008)
Issue (Month): 2 (09)
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0169-5150
More information through EDIRC
Other versions of this item:
- Park, Moon-Soo & Jin, Yanhong H. & Bessler, David A., 2008. "The Impacts of Animal Disease Crises on the Korean Meat Market," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6365, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ralf BRUEGGEMANN & Helmut LUETKEPOHL, 2004.
"Practical Problems with Reduced Rank ML Estimators for Cointegration Parameters and a Simple Alternative,"
Economics Working Papers
ECO2004/20, European University Institute.
- Ralf Brüggemann & Helmut Lütkepohl, 2005. "Practical Problems with Reduced-rank ML Estimators for Cointegration Parameters and a Simple Alternative," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(5), pages 673-690, October.
- Hyun J. Jin & Won W. Koo, 2003. "The effect of the BSE outbreak in Japan on consumers' preferences," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 30(2), pages 173-192, June.
- Lutz Kilian, 2008. "A Comparison of the Effects of Exogenous Oil Supply Shocks on Output and Inflation in the G7 Countries," Journal of the European Economic Association, MIT Press, vol. 6(1), pages 78-121, 03.
- Zijun Wang & Victoria Salin & Neal Hooker & David Leatham, 2002. "Stock market reaction to food recalls: a GARCH application," Applied Economics Letters, Taylor and Francis Journals, vol. 9(15), pages 979-987.
- John Leeming & Paul Turner, 2004.
"The BSE crisis and the price of red meat in the UK,"
Taylor and Francis Journals, vol. 36(16), pages 1825-1829.
- John Leeming & Paul Turner, 2003. "The BSE Crisis and the Price of Red Meat in the UK," Working Papers 2003002, The University of Sheffield, Department of Economics, revised Mar 2003.
- Hoover, Kevin & Demiralp, Selva, 2003.
"Searching for the Causal Structure of a Vector Autoregression,"
03-3, University of California at Davis, Department of Economics.
- Selva Demiralp & Kevin D. Hoover, 2003. "Searching for the Causal Structure of a Vector Autoregression," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(s1), pages 745-767, December.
- Kevin Hoover & Selva Demiralp, 2003. "Searching for the Causal Structure of a Vector Autoregression," Working Papers 33, University of California, Davis, Department of Economics.
- Saghaian, Sayed H. & Maynard, Leigh J. & Reed, Michael R., 2006. "The Effects of E. Coli 0157:H7, FMD and BSE on Japanese Retail Beef Prices: A Historical Decomposition," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25580, International Association of Agricultural Economists.
- Schlenker, Wolfram & Villas-Boas, Sofia B, 2008.
"Consumer and market responses to mad-cow disease,"
CUDARE Working Paper Series
1023, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
- Schlenker, Wolfram & Villas-Boas, Sofia B, 2008. "Consumer and Market Responses to Mad-Cow Disease," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7995j7cm, Department of Agricultural & Resource Economics, UC Berkeley.
- T. A. Lloyd & S. McCorriston & C. W. Morgan & A. J. Rayner, 2006. "Food scares, market power and price transmission: the UK BSE crisis," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 33(2), pages 119-147, June.
- Geweke, John F & Meese, Richard, 1981.
"Estimating Regression Models of Finite but Unknown Order,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(1), pages 55-70, February.
- Geweke, John & Meese, Richard, 1981. "Estimating regression models of finite but unknown order," Journal of Econometrics, Elsevier, vol. 16(1), pages 162-162, May.
- Swanson, N.R. & Granger, C.W.J., 1994. "Impulse Response Functions Based on Causal Approach to Residual Orthogonalization in Vector Autoregressions," Papers 9-94-1, Pennsylvania State - Department of Economics.
- Jill J. McCluskey & Kristine M. Grimsrud & Hiromi Ouchi & Thomas I. Wahl, 2005. "Bovine spongiform encephalopathy in Japan: consumers' food safety perceptions and willingness to pay for tested beef ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(2), pages 197-209, 06.
- Hikaru Hanawa Peterson & Yun-Ju (Kelly) Chen, 2005. "The impact of BSE on Japanese retail meat demand," Agribusiness, John Wiley & Sons, Ltd., vol. 21(3), pages 313-327.
- Badi Baltagi & Zijun Wang, 2007.
"Testing for Cointegrating Rank Via Model Selection: Evidence From 165 Data Sets,"
Springer, vol. 33(1), pages 41-49, July.
- Badi H. Baltagi & Zijun Wang, 2006. "Testing for Cointegrating Rank via Model Selection: Evidence from 165 Data Sets," Center for Policy Research Working Papers 83, Center for Policy Research, Maxwell School, Syracuse University.
- Lusk, Jayson L. & Schroeder, Ted C., 2000.
"Effects Of Meat Recalls On Futures Market Prices,"
2000 Conference, April 17-18 2000, Chicago, Illinois
18925, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
- Nicholas E. Piggott & Thomas L. Marsh, 2004. "Does Food Safety Information Impact U.S. Meat Demand?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 154-174.
- Pritchett, James G. & Thilmany, Dawn D. & Johnson, Kamina K., 2005. "Animal Disease Economic Impacts: A Survey of Literature and Typology of Research Approaches," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 8(01).
- Spencer Henson & Mario Mazzocchi, 2002. "Impact of Bovine Spongiform Encephalopathy on Agribusiness in the United Kingdom: Results of an Event Study of Equity Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 370-386.
- Costa, Rafael F. & Bessler, David A. & Rosson, C. Parr, III, 2011. "The Impacts of Foot and Mouth Disease Outbreaks on the Brazilian Meat Market," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103811, Agricultural and Applied Economics Association.
- Balogh, Peter & Ertsey, Imre & Szucs, Istvan, 2009. "Answer to the challenges of the 21st century in the Hungarian pig sector," 2009 Conference, August 16-22, 2009, Beijing, China 51027, International Association of Agricultural Economists.
- Colin-Castillo, Sergio & Capps, Oral, Jr. & Hernandez, Manuel A., 2012.
"Do Marketing Margins Change with Food Scares? Examining the Effects of Food Recalls and Disease Outbreaks in the U.S. Red Meat Industry,"
2012 Annual Meeting, August 12-14, 2012, Seattle, Washington
124966, Agricultural and Applied Economics Association.
- Hernandez, Manuel & Colin-Castillo, Sergio & Capps, Oral, Jr., 2011. "Do marketing margins change with food scares?: Examining the effects of food recalls and disease outbreaks in the us red meat industry," IFPRI discussion papers 1104, International Food Policy Research Institute (IFPRI).
- Rault, Arnaud & Krebs, Stephane, 2011. "Livestock epidemics and catastrophic risk management: State of the art and prospects on economic dynamics," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114793, European Association of Agricultural Economists.
- Arnaud Rault & Stéphane Krebs, 2011. "Catastrophic risk and risk management, what do we know about livestock epidemics? State of the art and prospects," Working Papers SMART - LERECO 201105, INRA UMR SMART.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.