| 초록 |
Asymmetric price transmission(APT) is the asymmetries found in the price transmission processes. The magnitude or speed of price transmission could be different when prices rising than when prices falling. APT may affects on the marketing efficiency and utilities of producers as well as of consumers. Market powers by middlemen (for example, super-sized retailers) might be one of the reasons of APT between wholesale prices and retail prices. This paper analyses APT between wholesale prices and retail prices for five representative agricultural products such as bean, chinese cabbage, cucumber, pepper, and apple. The wholesale prices are monthly prices in Seoul wholesale market and the retail prices are average monthly prices of one to five big retial chains and of one retial store in Seoul. Most of the agricultural products show no APT between wholesale prices and retail prices except pepper. However, even the APT found in pepper prices seems due to non-stationarity of the time series of pepper prices. Therefore, agricultural prices in Korea show little evidence of APT between wholesale prices and retail prices. However, since the results could be different according to the methodology or to the data frequency, more analyses using different methodologies or different data frequencies are desirable.
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