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Examining long run relationships among Australian beef prices

Author

Listed:
  • Chang, Hui-Shung (Christie)
  • Griffith, Garry R.

Abstract

The objective of this study is to determine whether long run relationships exist among Australian beef prices at the farm, wholesale and retail levels using cointegration techniques. Monthly data from 1971 to 1994 are us~d for the analysis. Preliminary results show that while all three prices considered are nonstationary, they are cointegrared. Furthennore, the retail price is weakly exogenous. The lauer result is an indication of market inefficiency due in part to price levelling behaviour at the retail level. Implications and areas for further research are also provided.

Suggested Citation

  • Chang, Hui-Shung (Christie) & Griffith, Garry R., 1997. "Examining long run relationships among Australian beef prices," 1997 Conference (41st), January 22-24, 1997, Gold Coast, Australia 135741, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare97:135741
    DOI: 10.22004/ag.econ.135741
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    References listed on IDEAS

    as
    1. Larue, Bruno, 1991. "Farm Input, Farm Output, and Food Retail Prices: A Cointegration Analysis," Department of Agricultural Economics and Business 258676, University of Guelph.
    2. Bruno Larue, 1991. "Farm Input, Farm Output and Retail Food Prices: A Cointegration Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 39(2), pages 335-353, July.
    Full references (including those not matched with items on IDEAS)

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