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Price transmission in the Spanish bovine sector: the BSE effect

Islam Hassouneh, Teresa Serra and Jose Maria Gil

No 50121, 2009 Conference, August 16-22, 2009, Beijing, China from International Association of Agricultural Economists

Abstract: A regime-switching vector error correction model is applied to monthly price data to assess the impact of BSE outbreaks on price relationships and patterns of transmission among farm and retail markets for bovine in Spain. To evaluate the degree to which price transmission is affected by BSE food scares, a BSE food scare index is developed and used to determine regime-switching. Results suggest that BSE scares affect beef producers and retailers differently. Consumer prices are found to be weakly exogenous and not found to react to BSE scares, while producer prices conversely adjusted. The magnitude of the adjustment is found to depend on the magnitude of the BSE scare.

Keywords: Agribusiness; Agricultural and Food Policy; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Political Economy; Production Economics (search for similar items in EconPapers)
Pages: 35
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae09:50121

DOI: 10.22004/ag.econ.50121

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