Vertical Price Transmission in the China's Layer Industry Chain: an Application of FDL Approach

Agricultural Sciences in China Pub Date : 2011-11-01 DOI:10.1016/S1671-2927(11)60181-8

Shi-wei XU, Xiao-xia DONG, Zhe-min LI, Gan-qiong LI

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引用次数: 6

Abstract

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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中国钢铁业产业链价格垂直传导:富戴劳方法的应用

摘要本文通过估算价格传导弹性系数，考察了中国分层产业链上下游产品的纵向价格关系。采用协整检验、误差修正模型和有限分布滞后模型，分析了玉米、蛋鸡、蛋鸡与鸡蛋价格的垂直变动。利用1994 - 2010年的月度数据，我们的研究结果表明，中国层产业链上的各种价格整合良好。此外，我们的研究结果表明，分层产业链上下游产品之间既存在长期价格关系，也存在短期价格关系，长期均衡在一定程度上可以消除短期动态价格偏差。我们还发现玉米和饲料价格对鸡蛋价格的影响仍然比蛋鸡价格更显著。研究结果提示，在市场一体化条件下，政府应更加关注玉米和蛋鸡饲料价格，以稳定鸡蛋价格。

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来源期刊

Agricultural Sciences in China AGRICULTURE, MULTIDISCIPLINARY-

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审稿时长

3.2 months