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Asymmetric Price Transmission and Non-linear Adjustment in the Iranian Mutton Market

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  • Falsafian, Azadeh
  • Yazdani, Saeed
  • Moghaddasi, Reza

Abstract

This paper analyses the asymmetric price transmission and non-linear adjustment at the farm and retail levels in the Iran’s mutton market. We applied a multivariate threshold error correction mechanism for monthly price data. We tested the non-linear adjustment using sup-LR, sup-LM and sup-Wald tests. The results confirm the presence of non-linear cointegration relationship between the retail and farm prices. In short-run, the price transmission behavior reveals that reactions of both the retail and farm prices to positive and negative deviations from the long-run price spread are asymmetric. More specially, the retailers show more strong responses to the both positive and negative shocks imposed to the farmers.

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File URL: http://purl.umn.edu/114363
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Bibliographic Info

Paper provided by European Association of Agricultural Economists in its series 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland with number 114363.

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Date of creation: 2011
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Handle: RePEc:ags:eaae11:114363

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Keywords: Threshold Cointegration; Non-linearity; Mutton; Price; Iran; Livestock Production/Industries;

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