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Asymmetry in price transmission in agricultural markets

  • Alain McLaren
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    This paper explores the asymmetries in price transmission from international to local markets. We expect the presence of large intermediaries in agricultural markets to lead to a stronger price transmission when international prices decline than when they rise. The empirical evidence confirms the presence of asymmetric price transmission consistent with the presence of large intermediaries with monopsony power.

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    File URL: http://www.unige.ch/ses/dsec/repec/files/13102.pdf
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    Paper provided by Institut d'Economie et Econométrie, Université de Genève in its series Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva with number 13102.

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    Length: 34 pages
    Date of creation: Oct 2013
    Date of revision:
    Handle: RePEc:gen:geneem:13102
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    1. Ram Acharya & Henry Kinnucan & Steven Caudill, 2011. "Asymmetric farm-retail price transmission and market power: a new test," Applied Economics, Taylor & Francis Journals, vol. 43(30), pages 4759-4768.
    2. R Blundell & Steven Bond, . "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
    3. Paul Mosley & Abrar Suleiman, 2007. "Aid, Agriculture and Poverty in Developing Countries," Review of Development Economics, Wiley Blackwell, vol. 11(1), pages 139-158, 02.
    4. Mundlak, Yair & Larson, Donald F, 1992. "On the Transmission of World Agricultural Prices," World Bank Economic Review, World Bank Group, vol. 6(3), pages 399-422, September.
    5. Severin Borenstein & A. Colin Cameron, 1992. "Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?," NBER Working Papers 4138, National Bureau of Economic Research, Inc.
    6. Tomek, William G. & Myers, Robert J., 1993. "Empirical Analysis Of Agricultural Commodity Prices: A Viewpoint," Working Papers 6847, Cornell University, Department of Applied Economics and Management.
    7. Rafael E. de Hoyos & Denis Medvedev, 2011. "Poverty Effects of Higher Food Prices: A Global Perspective," Review of Development Economics, Wiley Blackwell, vol. 15(3), pages 387-402, 08.
    8. Galeotti, Marzio & Lanza, Alessandro & Manera, Matteo, 2003. "Rockets and feathers revisited: an international comparison on European gasoline markets," Energy Economics, Elsevier, vol. 25(2), pages 175-190, March.
    9. Gopinath, Munisamy & Sheldon, Ian M. & Echeverria, Rodrigo, 2007. "Firm Heterogeneity and International Trade: Implications for Agricultural and Food Industries," Trade Policy Issues Papers 9349, International Agricultural Trade Research Consortium.
    10. M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers dp0007, Centre for Economic Performance, LSE.
    11. MacLaren, Donald & Josling, Timothy E., 1999. "Competition Policy And International Agricultural Trade," Working Papers 14585, International Agricultural Trade Research Consortium.
    12. Mariano Tappata, 2009. "Rockets and feathers: Understanding asymmetric pricing," RAND Journal of Economics, RAND Corporation, vol. 40(4), pages 673-687.
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