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Price transmission: the case of the UK and the USA broiler markets

Author

Listed:
  • Hannah Rose
  • Dimitrios Paparas
  • Ourania Tremma
  • Luís Kluwe De Aguiar

Abstract

The primary aim of this study is to identify whether price transmission asymmetry is present within the UK and the USA broiler market chains as an indicator of market efficiency. The topic of price transmission has seen increased amounts of coverage considering significant price peaks and their effect on agricultural markets, such as the food crises in 2007 and 2008. Standard economic theory suggests that there should be perfect transmissions within markets; thus, any price changes are passed on to the other levels of the chain completely and instantaneously. Empirical results found that the UK retailer price recovers at a rate of 16% per month, whilst the USA retailer prices returning at 15% per month rate. Additionally, results show that no long run asymmetry is present within the value chains suggesting that the market is efficient.

Suggested Citation

  • Hannah Rose & Dimitrios Paparas & Ourania Tremma & Luís Kluwe De Aguiar, 2019. "Price transmission: the case of the UK and the USA broiler markets," International Journal of Agricultural Resources, Governance and Ecology, Inderscience Enterprises Ltd, vol. 15(4), pages 281-306.
    • Handle: RePEc:ids:ijarge:v:15:y:2019:i:4:p:281-306
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    Citations

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    Cited by:

    1. Michael Anthony Adams, 2020. "Fiscal Policy and Stock Market Efficiency in the USA: An ARDL Bounds Testing Approach," Journal of Accounting, Business and Finance Research, Scientific Publishing Institute, vol. 9(2), pages 73-81.
    2. Behrendt, Karl & Paparas, Dimitrios, 2020. "Proceedings of the 3rd INFER Symposium on Agri-Tech Economics for Sustainable Futures 21st - 22nd September 2020, Harper Adams University, Newport United Kingdom," Agri-Tech Economics Proceedings 308130, Harper Adams University, Land, Farm & Agribusiness Management Department.
    3. Rachel Rose & Dimitrios Paparas, 2023. "Price Transmission: The Case of the UK Dairy Market," Commodities, MDPI, vol. 2(1), pages 1-21, March.

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