Abstract This paper shows that food price inflation varies across rural, urban, and metro counties in the United States. To quantify this disparity, we calculate food price indices using retail scanner data. Our indices suggest that between 2006 and 2020, rural areas had an overall higher food price inflation compared to urban and metro regions, with food price inflation averaging 0.7 percent lower in urban areas and 1.6 percent lower in metro areas. Additionally, we examine shifts in these disparities during key periods. We find that during the Great Recession, these differences were negligible, but in the post-Great Recession years, urban and metro areas consistently had lower food price inflation. However, the onset of the COVID-19 pandemic in 2020 led to a shift, with both urban and metro areas experiencing higher food price inflation, surpassing rural regions.
{"title":"Rural-Urban Food Price Inflation Disparities in the United States","authors":"Qingxiao Li","doi":"10.1515/jafio-2023-0046","DOIUrl":"https://doi.org/10.1515/jafio-2023-0046","url":null,"abstract":"Abstract This paper shows that food price inflation varies across rural, urban, and metro counties in the United States. To quantify this disparity, we calculate food price indices using retail scanner data. Our indices suggest that between 2006 and 2020, rural areas had an overall higher food price inflation compared to urban and metro regions, with food price inflation averaging 0.7 percent lower in urban areas and 1.6 percent lower in metro areas. Additionally, we examine shifts in these disparities during key periods. We find that during the Great Recession, these differences were negligible, but in the post-Great Recession years, urban and metro areas consistently had lower food price inflation. However, the onset of the COVID-19 pandemic in 2020 led to a shift, with both urban and metro areas experiencing higher food price inflation, surpassing rural regions.","PeriodicalId":91726,"journal":{"name":"Journal of agricultural & food industrial organization","volume":"6 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141344552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Christer Thrane, Gudbrand Lien, Mehmet Mehmetoglu, S. Størdal
Abstract We examine the association between beer prices and the inherent characteristics of beers within the traditional price hedonic framework. Using a large-scale Norwegian data set with more than 9000 individual beer products from several production countries, we find that alcohol content has a strong, positive, and significant effect on the retail price of beer. In contrast, the effect of expert quality rating on beer price appears to be of only small to moderate importance. We also find significant and substantially important price differences between production countries. Finally, there is effect heterogeneity (i.e. interaction effects) for both alcohol content and quality rating with respect to production country. For example, the association between alcohol content and price is larger in Norway and Germany than in most of the other production countries in the data.
{"title":"Price Hedonics of Beers: Effects of Alcohol Content, Quality Rating, and Production Country","authors":"Christer Thrane, Gudbrand Lien, Mehmet Mehmetoglu, S. Størdal","doi":"10.1515/jafio-2023-0048","DOIUrl":"https://doi.org/10.1515/jafio-2023-0048","url":null,"abstract":"Abstract We examine the association between beer prices and the inherent characteristics of beers within the traditional price hedonic framework. Using a large-scale Norwegian data set with more than 9000 individual beer products from several production countries, we find that alcohol content has a strong, positive, and significant effect on the retail price of beer. In contrast, the effect of expert quality rating on beer price appears to be of only small to moderate importance. We also find significant and substantially important price differences between production countries. Finally, there is effect heterogeneity (i.e. interaction effects) for both alcohol content and quality rating with respect to production country. For example, the association between alcohol content and price is larger in Norway and Germany than in most of the other production countries in the data.","PeriodicalId":91726,"journal":{"name":"Journal of agricultural & food industrial organization","volume":"5 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139381060","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This research analyzes the U.S. cheese industry dynamics (changes in wholesale cheese prices, milk price, margins, and the nature of wholesale cheese pricing) in light of a herd retirement program implemented by the Cooperatives Working Together (CWT) in the period of 2003–2010, which led to an antitrust lawsuit filed by cheese buyers against a group of dairy cooperatives and a large settlement. Presuming that they had a Capper-Volstead Act immunity, the CWT cooperatives acted in a cartel-like manner to decrease milk supply to increase and stabilize milk prices received by dairy farmers. While the program may have modestly increased seller market power of dairy farmers, seller market power of dairy cooperatives involved in cheese manufacturing decreased. This is because the cost of milk used in cheese manufacturing increased at a higher rate than wholesale cheese prices, which caused wholesale cheese margins to decrease.
{"title":"Private Supply Management and Market Power in the U.S. Dairy Industry","authors":"Yuliya V. Bolotova","doi":"10.1515/jafio-2023-0004","DOIUrl":"https://doi.org/10.1515/jafio-2023-0004","url":null,"abstract":"Abstract This research analyzes the U.S. cheese industry dynamics (changes in wholesale cheese prices, milk price, margins, and the nature of wholesale cheese pricing) in light of a herd retirement program implemented by the Cooperatives Working Together (CWT) in the period of 2003–2010, which led to an antitrust lawsuit filed by cheese buyers against a group of dairy cooperatives and a large settlement. Presuming that they had a Capper-Volstead Act immunity, the CWT cooperatives acted in a cartel-like manner to decrease milk supply to increase and stabilize milk prices received by dairy farmers. While the program may have modestly increased seller market power of dairy farmers, seller market power of dairy cooperatives involved in cheese manufacturing decreased. This is because the cost of milk used in cheese manufacturing increased at a higher rate than wholesale cheese prices, which caused wholesale cheese margins to decrease.","PeriodicalId":91726,"journal":{"name":"Journal of agricultural & food industrial organization","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135667045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The Tunisian olive oil strategy is based on the development of exports. Extension and modernization measures of Tunisian olivegrove have come into effect these recent years in order to increase the exports and diversify the target markets. Like any other agricultural good, olive oil is subject to world price fluctuations. Forecasting the long-term world price of olive oil is essential both as a decision-making tool and as a strategic factor for the development of the sector. This paper attempts to forecast the long-term olive oil world price using annual time series. The data reveals that the number of observations is too restrictive for a frequentist approach. To overcome the sample shortage, we adopt a Bayesian VAR. We use the hierarchical prior selection to specify the prior parameters. The results show an increase in world price and production. However, the price grows more proportionally than the production. In such a context, the increasing production orientation seems adequate but not sufficient to enhance the Tunisian position on the international olive oil market. For the coming decade, the Tunisian olive oil policy should focus as well on deepening the dynamics of product valorization.
{"title":"Olive Oil World Price Forecasting: A Bayesian VAR Approach","authors":"Haïfa Messaoudi, Abdessalem Abbassi, Naceur Khraief","doi":"10.1515/jafio-2023-0015","DOIUrl":"https://doi.org/10.1515/jafio-2023-0015","url":null,"abstract":"Abstract The Tunisian olive oil strategy is based on the development of exports. Extension and modernization measures of Tunisian olivegrove have come into effect these recent years in order to increase the exports and diversify the target markets. Like any other agricultural good, olive oil is subject to world price fluctuations. Forecasting the long-term world price of olive oil is essential both as a decision-making tool and as a strategic factor for the development of the sector. This paper attempts to forecast the long-term olive oil world price using annual time series. The data reveals that the number of observations is too restrictive for a frequentist approach. To overcome the sample shortage, we adopt a Bayesian VAR. We use the hierarchical prior selection to specify the prior parameters. The results show an increase in world price and production. However, the price grows more proportionally than the production. In such a context, the increasing production orientation seems adequate but not sufficient to enhance the Tunisian position on the international olive oil market. For the coming decade, the Tunisian olive oil policy should focus as well on deepening the dynamics of product valorization.","PeriodicalId":91726,"journal":{"name":"Journal of agricultural & food industrial organization","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134886185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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