Geographical Indications and Price Volatility Dynamics of Lamb Prices in Spain

Hugo Ferrer-Pérez, Fadi Abdelradi and José M. Gil
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Hugo Ferrer-Pérez: Centro de Investigación y Tecnología Agroalimentaria (CITA), Unidad de Economía Agraria y de los Recursos Naturales, 50059 Zaragoza, Spain
Fadi Abdelradi: Department of Agricultural Economics, Faculty of Agriculture, Cairo University, Giza 12613, Egypt
José M. Gil: Centre de Recerca en Economia i Desenvolupament Agroalimentari (CREDA)-UPC-IRTA, 08860 Castelldefels, Spain
Authors registered in the RePEc Author Service: Hugo Ferrer Pérez

Sustainability, 2020, vol. 12, issue 7, 1-17

Abstract: For decades, food quality standards have attracted the interest of governance institutions and regulation authorities, who have responded to the increasing and demanding societal challenges. In addition, the open debate on significant variability and unusually high levels of agrifood prices recorded in 2007 and later in 2011 affect the behavior of the chain actors involved. As an attempt to bring together these wide concerns within a quantitative framework, a comparative analysis of the performance of the price volatility dynamics allowing for asymmetric behavior along the supply chain of a protected geographical indication (PGI)-certified lamb and its corresponding non-PGI counterpart, both located in the same region of Spain, was undertaken using weekly farm-retail prices for the period 2011–2018. The results indicate the existence of significant volatilities and an asymmetric transmission mechanism along the non-PGI-certified lamb supply chain, whereas the PGI-certified supply chain is impacted by volatility effects, yet characterized by symmetric behavior, which may suggest a high degree of relative market efficiency.

Keywords: food quality schemes; geographical indication; price volatility; cointegration; multivariate GARCH; asymmetry; lamb; supply chain (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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