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An Analysis of Response Lags and Asymmetric Price Transmission on Processed Grain Products

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  • Kim, Taehun

Abstract

The aim of this paper is to analyze the response lags of world grain prices and their effects on the prices of processed grain products and to test asymmetric transmissions between grain import prices and processed grain product prices. The study result indicates that the change of global grain prices is reflected in the prices of processed grain products with 3~6month time lags. The test result of asymmetric price transmissions shows that there is a positive asymmetric price transmission for wheat flour. In the case of cooking oil price and assorted feed price, a global grain price increase affects processed grain product price, but the impact of decreasing global grain price, is not statistically significant in explaining the change of processed grain product price.

Suggested Citation

  • Kim, Taehun, 2009. "An Analysis of Response Lags and Asymmetric Price Transmission on Processed Grain Products," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 32(01), May.
    • Handle: RePEc:ags:jordng:330390
    DOI: 10.22004/ag.econ.330390
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