An Analysis on the Asymmetric Price Transmission in South Korean

Jongjin Kim

Journal of Rural Development/Nongchon-Gyeongje, 2015, vol. 38, issue 2

Abstract: Assorted feed produced in Korea not only depends on imports for most of raw materials but also the portion of these materials in total production cost is of great importance. This study analyzes asymmetric price transmissions between feed material prices and domestic assorted feed prices using a nonlinear ARDL model which allows long-run asymmetric relationships in addition to a short-run asymmetry. The results are summarized as even though we cannot observe asymmetric price transmissions between the aggregated assorted feed and its raw material prices, there were many types of asymmetry between the prices of assorted feed for specific livestock and its raw material prices. In the view of the types of asymmetric price transmissions, cattle (beef and dairy) and poultry (chicken and duck) feed markets are categorized into different groups and hog feed market is in between these two groups.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:330654

DOI: 10.22004/ag.econ.330654

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