The Price Volatility of Beef and Pig Meat in Romania

Cecilia Alexandri () and Corina Saman
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Cecilia Alexandri: Institute of Agricultural Economics, Romanian Academy, Bucharest

Agricultural Economics and Rural Development, 2017, vol. 14, issue 2, 165-173

Abstract: This paper analyzes the prices and price volatility for beef and pigmeat in Romania and compares them with international prices and price volatility. GARCH type processes are used to estimate price volatility. The empirical results indicate that the growth trend in pigmeat prices, in Romania and globally, is accompanied by high volatility throughout the period with significant increases in 2008, 2010 and 2014 for Romania and 2007–2008, 2012 and 2014 for world prices. Beef prices on both markets show a steady upward trend until 2015 and a high volatility during the global economic crisis, only to fall sharply afterwards. After 2015, beef prices experienced a significant decrease and a slightly increased volatility worldwide. Generally, the increased price volatility periods can be associated with significant increases in the corresponding prices or other global events (financial crisis, food price crises).

Keywords: price volatility; agricultural prices; Romania; GARCH (search for similar items in EconPapers)
JEL-codes: C51 E30 Q11 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:iag:reviea:v:14:y:2017:i:2:p:165-173

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