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Explaining Price Transmission Asymmetry In The Us Peanut Marketing Chain

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Author Info
Giha, Cesar L. Revoredo
Nadolnyak, Denis A.
Fletcher, Stanley M.

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Abstract

n the paper, we study price transmission from wholesale peanut prices to retail peanut butter prices. Using monthly data since 1984, we show that, while an increase in peanut prices is almost immediately transferred to peanut butter prices, it takes several months for a price decrease to be reflected in the peanut butter prices. Besides, the long term price transmission effect also appears to be symmetric. The observed short and long-term asymmetry is explained as a result of profit maximizing inventory management and/or some degree of market power in peanut processing.

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Publisher Info
Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2004 Annual meeting, August 1-4, Denver, CO with number 20363.

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Date of creation: 2004
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Handle: RePEc:ags:aaea04:20363

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Keywords: Marketing;

References listed on IDEAS
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  1. Anderson, Simon P. & de Palma, Andre & Kreider, Brent, 2001. "Tax incidence in differentiated product oligopoly," Journal of Public Economics, Elsevier, vol. 81(2), pages 173-192, August. [Downloadable!] (restricted)
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  2. Phlips, Louis, 1980. "Intertemporal Price Discrimination and Sticky Prices," The Quarterly Journal of Economics, MIT Press, vol. 94(3), pages 525-42, May. [Downloadable!] (restricted)
  3. Sam Peltzman, 2000. "Prices Rise Faster than They Fall," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 466-502, June. [Downloadable!] (restricted)
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  4. Zabel, Edward, 1972. "Multiperiod monopoly under uncertainty," Journal of Economic Theory, Elsevier, vol. 5(3), pages 524-536, December. [Downloadable!] (restricted)
  5. Borenstein, Severin & Cameron, A Colin & Gilbert, Richard, 1997. "Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 305-39, February.
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  6. Dobson, Paul W & Waterson, Michael, 1997. "Countervailing Power and Consumer Prices," Economic Journal, Royal Economic Society, vol. 107(441), pages 418-30, March. [Downloadable!] (restricted)
  7. Harper, Daniel C. & Goodwin, Barry K., 1999. "Price Transmission, Threshold Behavior, And Asymmetric Adjustment In The U.S. Pork Sector," 1999 Annual meeting, August 8-11, Nashville, TN 21666, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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This page was last updated on 2009-12-11.

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