Asymmetry in price transmission with VEC models: an application to the beef production chain

Detalhes bibliográficos
Autor(a) principal: Persona, Helena Loiola
Data de Publicação: 2019
Outros Autores: Figueiredo, Adelson Martins, Aguiar, Danilo Rolim Dias de
Tipo de documento: Artigo
Idioma: por
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/131211
Resumo: This paper aimed to analyze the price transmission and marketing margins among the segments of beef production chain (farm, wholesale and retail), looking for evidence of possible exercise of market power. Two Vector Error Correction models were estimated based on Houck’s framework. The results indicate symmetry in price transmission between wholesale and retail and price asymmetry between wholesale and producer. Thus, there is some evidence of the possible exercise of market power only from downstream to upstream (from wholesale to producer). This may be explained by differences in market structure, as retail and wholesale are oligopolies, unlike producers.
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spelling Asymmetry in price transmission with VEC models: an application to the beef production chainAnálise de assimetria na transmissão de preços por meio de Modelos VEC: aplicação à cadeia produtiva de carne bovinaprice transmissiontime seriesbeefmarket powertransmissão de preçosséries temporaiscarne bovinapoder de mercadoThis paper aimed to analyze the price transmission and marketing margins among the segments of beef production chain (farm, wholesale and retail), looking for evidence of possible exercise of market power. Two Vector Error Correction models were estimated based on Houck’s framework. The results indicate symmetry in price transmission between wholesale and retail and price asymmetry between wholesale and producer. Thus, there is some evidence of the possible exercise of market power only from downstream to upstream (from wholesale to producer). This may be explained by differences in market structure, as retail and wholesale are oligopolies, unlike producers.Este artigo visa analisar a transmissão de preços e as margens de comercialização entre os segmentos da cadeia produtiva de carne bovina, buscando evidência de possível exercício de poder de mercado. Foram estimados dois modelos Vetoriais de Correção de Erros com base no enfoque de Houck. Os resultados indicam simetria nas relações de preços entre atacado e varejo e assimetria entre atacado e produtor. Assim, há alguma evidência de possível exercício de poder de mercado apenas de jusante a montante (do atacado para o produtor). Isto pode ser explicado pelas diferenças na estrutura de mercado, já que varejo e atacado são oligopólios, diferentemente dos produtores.Universidade de São Paulo, FEA-RP/USP2019-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/13121110.11606/1980-5330/ea131211Economia Aplicada; Vol. 23 No. 4 (2019); 5-26Economia Aplicada; Vol. 23 Núm. 4 (2019); 5-26Economia Aplicada; v. 23 n. 4 (2019); 5-261980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/ecoa/article/view/131211/161012Copyright (c) 2019 Economia Aplicadainfo:eu-repo/semantics/openAccessPersona, Helena LoiolaFigueiredo, Adelson MartinsAguiar, Danilo Rolim Dias de2020-08-04T15:57:16Zoai:revistas.usp.br:article/131211Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-09-13T12:17:07.919439Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Asymmetry in price transmission with VEC models: an application to the beef production chain
Análise de assimetria na transmissão de preços por meio de Modelos VEC: aplicação à cadeia produtiva de carne bovina
title Asymmetry in price transmission with VEC models: an application to the beef production chain
spellingShingle Asymmetry in price transmission with VEC models: an application to the beef production chain
Persona, Helena Loiola
price transmission
time series
beef
market power
transmissão de preços
séries temporais
carne bovina
poder de mercado
title_short Asymmetry in price transmission with VEC models: an application to the beef production chain
title_full Asymmetry in price transmission with VEC models: an application to the beef production chain
title_fullStr Asymmetry in price transmission with VEC models: an application to the beef production chain
title_full_unstemmed Asymmetry in price transmission with VEC models: an application to the beef production chain
title_sort Asymmetry in price transmission with VEC models: an application to the beef production chain
author Persona, Helena Loiola
author_facet Persona, Helena Loiola
Figueiredo, Adelson Martins
Aguiar, Danilo Rolim Dias de
author_role author
author2 Figueiredo, Adelson Martins
Aguiar, Danilo Rolim Dias de
author2_role author
author
dc.contributor.author.fl_str_mv Persona, Helena Loiola
Figueiredo, Adelson Martins
Aguiar, Danilo Rolim Dias de
dc.subject.por.fl_str_mv price transmission
time series
beef
market power
transmissão de preços
séries temporais
carne bovina
poder de mercado
topic price transmission
time series
beef
market power
transmissão de preços
séries temporais
carne bovina
poder de mercado
description This paper aimed to analyze the price transmission and marketing margins among the segments of beef production chain (farm, wholesale and retail), looking for evidence of possible exercise of market power. Two Vector Error Correction models were estimated based on Houck’s framework. The results indicate symmetry in price transmission between wholesale and retail and price asymmetry between wholesale and producer. Thus, there is some evidence of the possible exercise of market power only from downstream to upstream (from wholesale to producer). This may be explained by differences in market structure, as retail and wholesale are oligopolies, unlike producers.
publishDate 2019
dc.date.none.fl_str_mv 2019-12-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/131211
10.11606/1980-5330/ea131211
url https://www.revistas.usp.br/ecoa/article/view/131211
identifier_str_mv 10.11606/1980-5330/ea131211
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/131211/161012
dc.rights.driver.fl_str_mv Copyright (c) 2019 Economia Aplicada
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Economia Aplicada
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
dc.source.none.fl_str_mv Economia Aplicada; Vol. 23 No. 4 (2019); 5-26
Economia Aplicada; Vol. 23 Núm. 4 (2019); 5-26
Economia Aplicada; v. 23 n. 4 (2019); 5-26
1980-5330
1413-8050
reponame:Economia Aplicada
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Economia Aplicada
collection Economia Aplicada
repository.name.fl_str_mv Economia Aplicada - Universidade de São Paulo (USP)
repository.mail.fl_str_mv ||revecap@usp.br
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