Examining long run relationships among Australian beef prices

Chang, Hui-Shung (Christie) and Garry R. Griffith

No 135741, 1997 Conference (41st), January 22-24, 1997, Gold Coast, Australia from Australian Agricultural and Resource Economics Society

Abstract: The objective of this study is to determine whether long run relationships exist among Australian beef prices at the farm, wholesale and retail levels using cointegration techniques. Monthly data from 1971 to 1994 are us~d for the analysis. Preliminary results show that while all three prices considered are nonstationary, they are cointegrared. Furthennore, the retail price is weakly exogenous. The lauer result is an indication of market inefficiency due in part to price levelling behaviour at the retail level. Implications and areas for further research are also provided.

Keywords: Livestock Production/Industries; Production Economics (search for similar items in EconPapers)
Pages: 17
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare97:135741

DOI: 10.22004/ag.econ.135741

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