Local polynomial fitting and spatial price relationships: price transmission in EU pork markets

Teresa Serra, José M. Gil and Barry Goodwin ()

European Review of Agricultural Economics, 2006, vol. 33, issue 3, 415-436

Abstract: We study price transmission processes within EU pork markets after the implementation of the EU single market in 1993. We compare results derived from non-parametric regressions with those obtained using alternative non-linear threshold models. Both techniques support the hypothesis that prices are transmitted across spatially separate EU pig markets and provide evidence for asymmetric price adjustments. They also suggest the existence of a range of price differentials where equilibrating price adjustments are less intense. Non-parametric techniques often suggest a higher degree of price transmission than that implied by threshold models. Copyright 2006, Oxford University Press.

Date: 2006
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European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo

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