On Policy Interventions and Vertical Price Transmission: the Italian Milk Supply Chain Case

Federico Antonioli and Fabio Santeramo

MPRA Paper from University Library of Munich, Germany

Abstract: During the last two decades, the EU dairy sector has been interested by considerable changes and two policy reforms, the Fischler Reform and the Common Market Organization Reform, pushing toward economic liberalization. These changes affected the EU supply chains at different levels, altering the mechanisms of vertical price transmission. Against this background, we apply error correction models to assess how price signals are passed through, before and after the Italian milk supply chain reforms. In particular, we study the degree of price transmission asymmetries and conclude that market sluggishness has increased in the post-reform period, but the asymmetric dynamics are less evident. Reflections on future research needs are discussed.

Keywords: Asymmetries; CAP reform; dairy sector; error correction model; Fischler reform; structural break (search for similar items in EconPapers)
JEL-codes: L16 Q13 Q18 (search for similar items in EconPapers)
Date: 2021-01-10
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Citations: View citations in EconPapers (4)

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Journal Article: On Policy Interventions and Vertical Price Transmission: The Italian Milk Supply Chain Case (2022)
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