Vertical Price Transmission in the China's Layer Industry Chain: an Application of FDL Approach
文献类型: 外文期刊
第一作者: Xu Shi-wei
作者: Xu Shi-wei;Dong Xiao-xia;Li Zhe-min
作者机构:
关键词: finite distributed lag model;vertical price transmission;layer industry chain;China
期刊名称:AGRICULTURAL SCIENCES IN CHINA ( 影响因子:0.82; 五年影响因子:0.997 )
ISSN: 1671-2927
年卷期: 2011 年 10 卷 11 期
页码:
收录情况: SCI
摘要: This paper examines the vertical price relationship between upstream and downstream products in China's layer industry chain by estimating elasticity coefficients of the price transmission. We use cointegration tests, error correction models and finite distributed lag models to analyze vertical price shifts between corn, layer feed, egg-laying chicken and egg prices. With monthly data from 1994 to 2010, our results show that various prices in China's layer industry chain are well integrated. In addition, our results indicate that both long-run and short-run price relationships between upstream and downstream products in layer industry chain exist and the long-run equilibrium, to a certain extent, may eliminate the short-run dynamics price deviation. We also found that the influence of corn and feed prices on egg prices is still more remarkable than egg-laying chicken prices. Our findings imply that governments should pay more attention to corn and layer feed prices in order to stabilize egg prices under the conditions of market integration.
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