초록 |
The lead-lag relationships between daily prices and trading volumes at the Garak wholesale market, analyzed by using cross-correlation approach, are different for each fresh vegetable. Trading volumes lag prices for cabbage, radish, and pepper, but not for cucumber. The differences in the lead-lag relationship between prices and volumes seem to be due to the controllability of harvest timing. Cabbage and radish could be stayed on the land without loss of product quality as long as two weeks. However, cucumber should be harvested everyday in order not to lose quality. Harvest of pepper could be postponed for several days without loss of quality. The controllability of harvest timing implies that daily supply could be adjusted to the market situation, that is, daily trading volumes lag to prices. The results imply that the policy tools for price stabilization need to be applied differently for each products according to the pattern of lead-lag relationship between prices and volumes.
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