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Asymmetric price transmission in the greek agri-food sector: some tests

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  • Ioanna Reziti

    (Centre of Planning and Economic Research, Amerikis 11, 10672, Athens, Greece)

  • Yannis Panagopoulos

    (Centre of Planning and Economic Research, Amerikis 11, 10672, Athens, Greece)

Abstract

This article employs a general-to-specific approach to analyze the price transmission mechanism between producers and consumers in the Greek agri-food sector. More specifically, the markets examined are vegetables, fruits and the whole food. Using cointegration techniques, two alternative dynamic models are estimated: an error correction model (ECM) and a LSE-Hendry general-to-specific model (GETS). The results indicate the existence of a long-run Granger-causality relationship running from producers to consumers in the vegetables market, while the opposite applies for food and fruits. In addition, asymmetric price transmission appears to apply for food and vegetables, but not for the fruit case. Both models agree upon the asymmetric nature of food and the symmetric nature of fruits but disagree for the case of vegetables. [JEL Classification: Q110, Q130] © 2008 Wiley Periodicals, Inc.

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File URL: http://hdl.handle.net/10.1002/agr.20144
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 24 (2008)
Issue (Month): 1 ()
Pages: 16-30

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Handle: RePEc:wly:agribz:v:24:y:2008:i:1:p:16-30

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Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297

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  5. von Cramon-Taubadel, Stephan, 1998. "Estimating Asymmetric Price Transmission with the Error Correction Representation: An application to the German Pork Market," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 25(1), pages 1-18.
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  7. Jochen Meyer & Stephan Cramon-Taubadel, 2004. "Asymmetric Price Transmission: A Survey," Journal of Agricultural Economics, Wiley Blackwell, vol. 55(3), pages 581-611.
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  9. Habtu Tadesse Weldegebriel, 2004. "Imperfect Price Transmission: Is Market Power Really to Blame?," Journal of Agricultural Economics, Wiley Blackwell, vol. 55(1), pages 101-114.
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  11. Balke, Nathan S & Fomby, Thomas B, 1997. "Threshold Cointegration," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 627-45, August.
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Cited by:
  1. repec:asi:ajoerj:2013:p:851-859 is not listed on IDEAS
  2. Zoltan Bakucs & Imre Ferto & Jan Falkowski, 2013. "What causes asymmetric price transmission in agro-food sector? Meta-analysis perspective," IEHAS Discussion Papers 1303, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.

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