Price Asymmetry in Farm-Retail Price Transmission in the Turkish Dairy Market

Ozgur Bor, Mustafa Ismihan () and Ahmet Bayaner
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Ahmet Bayaner: Akdeniz University/Department of Management

No 272, EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey from Ekonomik Yaklasim Association

Abstract: This study investigates the price asymmetry in farm-retail price transmission in the Turkish milk market. An asymmetric error correction model is applied on the monthly price data, and the results suggest that there is a positive price asymmetry in the farm-retail price transmission in the Turkish dairy market. That is, the retail prices tend to adjust more quickly to the input price increases than to its decreases which yield welfare losses to the consumers. In addition, cointegration results imply that there is a significant market power in the dairy market.

Keywords: Price Asymmetry; Turkey; Milk; Error Correction Model (search for similar items in EconPapers)
JEL-codes: C22 Q11 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2013
New Economics Papers: this item is included in nep-agr, nep-ara, nep-com and nep-cwa
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Persistent link: https://EconPapers.repec.org/RePEc:eyd:cp2013:272

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