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Asymmetric Price Transmission in the Spanish Lamb Sector

European Review of Agricultural Economics, Vol. 34, No. 1, pp. 53-80, 2007

Posted: 18 Jun 2008

See all articles by M. Ben-Kaabia

M. Ben-Kaabia

affiliation not provided to SSRN

José M. Gil

affiliation not provided to SSRN

Abstract

This article investigates the non-linear adjustment between farm and retail prices in the lamb sector in Spain, using a three-regime Threshold Autoregressive Model. The results indicate that, in the long run, price transmission is perfect and any supply or demand shocks are fully transmitted along the marketing chain. In the short run, price adjustments between the farm and the retail levels are asymmetric and reveal a demand-pull transmission mechanism. On the other hand, retailers benefit from any shock, whether positive or negative, that affects supply or demand conditions.

Keywords: asymmetries, non-linear adjustments, lamb prices, Spain

JEL Classification: C32, L11, Q11, Q13

Suggested Citation

Ben-Kaabia, M. and Gil, José M., Asymmetric Price Transmission in the Spanish Lamb Sector. European Review of Agricultural Economics, Vol. 34, No. 1, pp. 53-80, 2007, Available at SSRN: https://ssrn.com/abstract=1147400 or http://dx.doi.org/jbm009

M. Ben-Kaabia

affiliation not provided to SSRN

José M. Gil (Contact Author)

affiliation not provided to SSRN ( email )

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