사과의 산지도매가격과 소매가격 간동태적 인과성 및 비대칭적 가격 조정 연구Causality and Asymmetric Price Transmission in the Distribution Channel of the Apple Market
- Other Titles
- Causality and Asymmetric Price Transmission in the Distribution Channel of the Apple Market
- Authors
- 김기환; 서병선
- Issue Date
- 2017
- Publisher
- 한국농업경제학회
- Keywords
- asymmetry; causality; price transmission; threshold partial adjustment
- Citation
- 농업경제연구, v.58, no.1, pp.97 - 116
- Indexed
- KCI
- Journal Title
- 농업경제연구
- Volume
- 58
- Number
- 1
- Start Page
- 97
- End Page
- 116
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/85550
- DOI
- 10.24997/KJAE.2017.58.1.97
- ISSN
- 0549-6047
- Abstract
- The purpose of this study is to explore the dynamic properties of causality and asymmetric price transmission in the distributional channel of the apple market in Korea. Using the wholesale and retail price series of the apple market, we obtain the following results. First, the price transmission mechanism reveals the causal relationship channeling from the wholesale price to the retail price. Second, we find an asymmetric price transmission from the analysis using the threshold partial adjustment model. The retail price responds strongly when the wholesale price increases.
On the other hand, the retail price shows sluggish adjustment when the wholesale price decreases.
This study has shown a significant improvement of forecasting accuracy as the threshold partial adjustment model allows for asymmetric price transmission.
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Collections - College of Life Sciences and Biotechnology > Department of Food and Resource Economics > 1. Journal Articles
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