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Cyclical causalities between the U.S. wholesale beef and feed prices: A Markov-switching approach

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  • Dicle Ozdemir

Abstract

This paper examines whether some major livestock feed prices as corn, sorghum, hay and barley play a leading role in the regime switching dynamics between two states of the beef price cycles and have nonlinear effects on wholesale beef market in the U.S. using time-varying transition probability Markov-switching autoregressive model (TVTP). The study reveals that real wholesale beef price movement in the U.S. red meat market exhibits a nonlinear two regimes pattern. This evidence indicates that livestock feed prices provides some predicted power to the model of beef price regime switching and supports livestock feed prices contributing to whether the beef price levels remains in high-mean regime.

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  • Dicle Ozdemir, 2020. "Cyclical causalities between the U.S. wholesale beef and feed prices: A Markov-switching approach," Economics and Business Letters, Oviedo University Press, vol. 9(2), pages 135-145.
    • Handle: RePEc:ove:journl:aid:14313
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    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/14313
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    Cited by:

    1. Liu, Fang & Umair, Muhammad & Gao, Junjun, 2023. "Assessing oil price volatility co-movement with stock market volatility through quantile regression approach," Resources Policy, Elsevier, vol. 81(C).
    2. Dan Sun, 2024. "RETRACTED ARTICLE: The role of green technology and green utility performance in advancing energy utilities' commitment to sustainability," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-24, April.

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