This paper analyses whether the growing amount of information about the relationship between diet and health has had an impact on the demand for different types of meat and fish in Spain. To achieve this objective, a health information index, based on the number of papers published in the MEDLINE database, is introduced into a 'CBS' system of demand equations. Given the time series properties of the variables, a cointegrated CBS model is estimated. Meat demand and health information elasticities are calculated. Results indicate that, in the case of Spain, health information elasticities are significant, having a positive effect on fish and poultry and a negative effect on beef and pork.
The aim of this study is to analyse the importation of virgin olive oil to European Union countries, paying special attention to the Spanish export contribution. The method used is based on the estimation of an imports demand system. The novelty of the paper lies not in the modelling approach but in the explicit consideration of the univariate characteristics of series that is included in the analysis. Since prices are non-stationary, cointegration among them has been tested. Results indicate that they are cointegrated and that homogeneity holds. As a result, relative prices are included in the imports demand system. Structural change is also considered so as to account for the entrance of both Spain and Greece into the EU during the period studied. Results demonstrate the leadership of Spain within the EU virgin olive oil market as well as the increasing competitiveness of Greek oil.
Despite the vast number of works investigating price transmission (PT) processes in diverse agrifood markets, very little has been said about quality-differentiated products. In this paper, we compare the conventional and organic fluid milk sectors in Italy to better understand the economic organization and functioning of one of the most important agrifoods in Italy. Using a unique dataset featuring processor and retail (scanner) prices for the two types of milk, we estimate Momentum-Threshold Autoregressive models to account for asymmetric price movements in both sectors, but the PT results are eventually symmetric. The Vector Error Correction Model estimations and Impulse Response Functions analysis provide significant insights into the differences between the two markets. [EconLit citations: Q130, Q110, C590]
-In this paper, a new framework for estimating and identifying cointegrated demand systems is presented. This method is then applied to the analysis of meat demand in Tunisia with an Almost Ideal Demand system functioning as the underlying model. TheJohansen and Juselius approach is used to identify cointegrated vectors as demand equations and to test theoretical economic restrictions. Finally, a structural VAR model is specified and impulse response functions are calculated to analyse both long and short-run dynamics of demand elasticities.
RESUMEN:El objetivo de este trabajo consiste en analizar el proceso de transmisión de precios a lo largo de la cadena comercial en el sector del tomate en España. Para ello se han considerado el precio percibido por el productor y el pagado por el consumidor. El enfoque metodológico adoptado se basa en la estimación de un Vector de Corrección del Error con umbrales. Los resultados indican que, a largo plazo, los dos precios son homogéneos. Sin embargo, en el corto plazo las reacciones de precios, tanto en velocidad como en magnitud, son asimétricas. Es más, los resultados indican que los detallistas se benefician (en el sentido de que son capaces de aumentar el margen comercial) de cualquier shock, ya sea positivo o negativo, que afecte tanto a las condiciones de oferta como de demanda. Esta capacidad de actuación sobre los márgenes comerciales es uno de los principales determinantes de los procesos inflacionistas en este sector. PALABRAS CLAVE: Asimetrías, cointegración por umbrales, precios, tomate.Clasificación JEL: C32, Q13. Price transmission asymmetries in the Spanish tomato sectorSUMMARY: This paper aims to investigate the non-linear adjustments between farm and retail prices in the tomato sector in Spain. The methodology used is based on the multivariate approach to specify and estimate a Threshold Autoregressive Model. The results indicate that, in the long run, price transmission is perfect. In the short-run, price adjustments between the farm and the retail levels are asymmetric. Retailers always benefit (in terms of increasing marketing margins) from positive and negative shocks affecting supply or demand conditions. Moreover, marketing margins have been found to be main determinants of inflation in the Spanish tomato sector.
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