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Asymmetry in Farm-Retail Price Transmission in the Northeastern Fluid Milk Market

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Author Info
Frigon, Mathieu
Doyon, Maurice
Romain, Robert
Abstract

A hybrid approach to estimate the asymmetric price transmission between the farm gate and the retail market is proposed. The model is estimated for the fluid milk market of the Northeast U.S., that of the metropolitan area of New York City as well as that of Upstate New York. Spatially disaggregated data allows the impact of regional dairy regulation on the farm-retail price spread to be assessed, as well as the behavior of the middlemen regarding price transmission on markets with different levels of retail concentration to be estimated. Results suggest that intermediaries transmit variations in milk farm price in an asymmetric way in the short-run; that governmental intervention might force middlemen to act competitively in terms of price transmission; and that a high degree of concentration at the retail level is not synonymous with inefficient price transmission.

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Paper provided by University of Connecticut, Food Marketing Policy Center in its series Research Reports with number 25220.

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Date of creation: 1999
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Handle: RePEc:ags:uconnr:25220

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

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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.:
  1. Stiglitz, J E, 1979. "Equilibrium in Product Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 69(2), pages 339-45, May. [Downloadable!] (restricted)
  2. Weaver, Robert D. & Chattin, Peter & Banerjee, Aniruddha, 1989. "Market Structure And The Dynamics Of Retail Food Prices," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(2), October. [Downloadable!]
  3. Binkley, James K. & Connor, John M., 1996. "Market Competition And Metropolitan-Area Grocery Prices," Working Papers 25988, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance. [Downloadable!]
  4. Schmalensee, Richard, 1989. "Inter-industry studies of structure and performance," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 16, pages 951-1009 Elsevier. [Downloadable!] (restricted)
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This page was last updated on 2009-12-11.

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