축산물 가격의 비대칭전이에 관한 실증연구 = Asymmetric Price Transmissions in Livestock Prices

다국어 초록 (Multilingual Abstract)

If prices in the later (earlier) stage of marketing channel respond faster or deeper to the price increases in the earlier (later) stage of marketing channel than to decreases, we call it the positive (negative) APT. This paper considers four major livestock prices such as beef, hog, chicken, and egg prices in Korea. Potential APTs are tested for the stages from farm to wholesale as well as from wholesale to retail using daily prices. Since the prices in each marketing stages are cointegrated each other, the asymmetric error correction model is used. Beef market shows the positive APT in both cases, that is, farm to wholesale and wholesale to retail. Hog and egg markets show the positive APT in wholesale to retail case, while chicken market shows no APT. These results support for the customers` complains thus far that retail price rises fast when farm price rises but doesn`t fall or falls slow when farm price falls.

참고문헌 (Reference)

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