초록 |
Earlier attempts to test for asymmetric price transmission for agricultural market did not consider the chance of a short-run and long-run nonlinearities in cointegrating relationship. To overcome the weakness of previous studies, we employ nonlinear ARDL model which has a flexible nonlinear dynamic framework capable of simultaneously and coherently modelling price asymmetries both in the underlying long-run relationship and in the patterns of dynamic adjustment. The results suggest the following findings: In the chicken market, farm-to-wholesale marketing chanel shows a symmetric price transmission in both short-run and long-run, while wholesale-to-retail marketing channel demonstrates a asymmetric price transmission in both short-run and long-run. On the contrary, asymmetric price transmission in the egg market is found on farm-to-wholesale marketing channel in both short-run and long-run.
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