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Price transmission along the Turkish poultry and beef supply chains

Author

Listed:
  • Mehmet Guncavdi
  • Murat Kors
  • Elif Ozcan Tok

Abstract

In this study, we examine the price transmission in terms of magnitude and speed along the supply chains of Turkish poultry and beef markets. We develop a two-step model. In the first step, we employ indicator saturation method to identify the structural breaks of impulse-indicator saturation (IIS), step-indicator saturation (SIS) and trend-indicator saturation (TIS) types in the data. In the second step, we construct an autoregressive distributed lag-error correction model (ARDL-ECM) introducing the structural breaks into the analysis. The main findings indicate that the magnitudes of pass through of a price shock between different levels of supply chains are considerably large, and the largest effect is observed from wholesale prices to retail prices. The convergence to the long run equilibrium is also fast.

Suggested Citation

  • Mehmet Guncavdi & Murat Kors & Elif Ozcan Tok, 2021. "Price transmission along the Turkish poultry and beef supply chains," Working Papers 2130, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:wpaper:2130
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    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Research/Working+Paperss/2021/21-30
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    More about this item

    Keywords

    Conditional ECM; Food supply chain; Vertical price transmission;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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