Investigating the Price Transmission Mechanisms of Greek Fresh Potatoes, Tomatoes and Cucumbers Markets
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Anthony N. Rezitis
and
Dimitris N. Pachis
Abstract
This study investigates the price transmission mechanisms between the producer and the consumer for three major Greek agricultural products: fresh potatoes, tomatoes and cucumbers. The empirical analysis uses a Markov Switching Vector Error Correction model which accounts for asymmetric responses of the producer and the consumer to price increases and decreases. The asymmetric effects are tested with in-sample as well as out-of-sample measures for each state. The response of the producer and the consumer to long-run deviations from the equilibrium and to lagged price changes is investigated along with the nature of the price shocks for each state. The empirical results show that potatoes and cucumbers give rise to similar price mechanisms even though the underlying characteristics of these two markets are different. Moreover, the empirical analysis shows that tomatoes and cucumbers result in different price relationships between the producer and the consumer despite the similar market characteristics.
Funding statement: Funding: This research has been co-financed by the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program “Education and Lifelong Learning” of the National Strategic Reference Framework (NSRF) – Research Funding Program: Heracleitus II – Investing in knowledge society through the European Social Fund.
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Articles in the same Issue
- Frontmatter
- Non-Tariff Measures When Alternative Regulatory Tools Can Be Chosen
- Mergers and Acquisitions (M&As), Market Structure and Inventive Activity in the Agricultural Biotechnology Industry
- Measuring Bilateral Market Power in International Markets of Vertically Differentiated Agricultural Commodities
- Testing for Oligopsony Power in the US Green Skin Avocado Market
- Innovation in the Seed Market: The Role of IPRs and Commercialization Rules
- Modeling US Farmer Soybean Seed Choice with Path Dependencies: Inevitable Patented Seed Market Dominance?
- Partial Adherence to Voluntary Quality Standards for Experience Goods
- Investigating the Price Transmission Mechanisms of Greek Fresh Potatoes, Tomatoes and Cucumbers Markets
- Channel Concentration and Retail Prices: Evidence from the Traditional Cheese Market of Cyprus
- Price Dependence between Different Beef Cuts and Quality Grades: A Copula Approach at the Retail Level for the U.S. Beef Industry
- Factors Associated with Alcoholic Beverages Consumption in Russia: A Discrete Choice Model
Articles in the same Issue
- Frontmatter
- Non-Tariff Measures When Alternative Regulatory Tools Can Be Chosen
- Mergers and Acquisitions (M&As), Market Structure and Inventive Activity in the Agricultural Biotechnology Industry
- Measuring Bilateral Market Power in International Markets of Vertically Differentiated Agricultural Commodities
- Testing for Oligopsony Power in the US Green Skin Avocado Market
- Innovation in the Seed Market: The Role of IPRs and Commercialization Rules
- Modeling US Farmer Soybean Seed Choice with Path Dependencies: Inevitable Patented Seed Market Dominance?
- Partial Adherence to Voluntary Quality Standards for Experience Goods
- Investigating the Price Transmission Mechanisms of Greek Fresh Potatoes, Tomatoes and Cucumbers Markets
- Channel Concentration and Retail Prices: Evidence from the Traditional Cheese Market of Cyprus
- Price Dependence between Different Beef Cuts and Quality Grades: A Copula Approach at the Retail Level for the U.S. Beef Industry
- Factors Associated with Alcoholic Beverages Consumption in Russia: A Discrete Choice Model
