Empirical applications of price transmission in international agri-food supply chains
type: CreativeWork
description: The present thesis presents four essays on the impacts of significant change taking place either as policy reforms or as free trade agreements, on the price transmission mechanism (vertical price transmission along the EU food supply chain and spatial price transmission between main producing countries). Essay 1 (discussed in Chapter 3) investigates the effects of the liberalization changes initiated with the 2003 CAP Reform and further progressed with the 2008 CAP Health Check on the price causal relationships along the EU food supply chain. The empirical approach followed adopts panel cointegration and panel error correction vector autoregressive (EC-VAR) models and utilizes panel data comprising monthly observations from January 2005 to September 2012 from nineteen European countries. The period is split into two sub-periods, January 2005 to December 2008 and January 2009 to September 2012, in order to examine how the liberalization policies of the CAP Health Check have impacted on the causal relationships among agricultural commodity prices (ACPs), producer prices (PPs) and consumer prices (CPs). The results obtained demonstrate the existence of a long-run equilibrium relationship between PPs, ACPs and CPs. Moreover, before the CAP Health Check, ACPs are shown to be exogenous while both PPs and CPs are shown to be endogenous. However, after the CAP Health Check, all the prices become endogenous. Furthermore, short-run bidirectional causality is shown among PPs, ACPs and CPs in both sub-periods, which supports the feedback hypothesis of interdependency between the prices. The empirical results suggest that the decreased support in the agricultural sector, resulting from the changes of the CAP Health Check, has rendered ACPs more respondent to market signals, highlighting a more liberalized market. Essay 2 (discussed in Chapter 4) assesses the price transmission mechanism along the European food supply chain, employing an asymmetric panel vector error correction m…
abstract: The present thesis presents four essays on the impacts of significant change taking place either as policy reforms or as free trade agreements, on the price transmission mechanism (vertical price transmission along the EU food supply chain and spatial price transmission between main producing countries). Essay 1 (discussed in Chapter 3) investigates the effects of the liberalization changes initiated with the 2003 CAP Reform and further progressed with the 2008 CAP Health Check on the price causal relationships along the EU food supply chain. The empirical approach followed adopts panel cointegration and panel error correction vector autoregressive (EC-VAR) models and utilizes panel data comprising monthly observations from January 2005 to September 2012 from nineteen European countries. The period is split into two sub-periods, January 2005 to December 2008 and January 2009 to September 2012, in order to examine how the liberalization policies of the CAP Health Check have impacted on the causal relationships among agricultural commodity prices (ACPs), producer prices (PPs) and consumer prices (CPs). The results obtained demonstrate the existence of a long-run equilibrium relationship between PPs, ACPs and CPs. Moreover, before the CAP Health Check, ACPs are shown to be exogenous while both PPs and CPs are shown to be endogenous. However, after the CAP Health Check, all the prices become endogenous. Furthermore, short-run bidirectional causality is shown among PPs, ACPs and CPs in both sub-periods, which supports the feedback hypothesis of interdependency between the prices. The empirical results suggest that the decreased support in the agricultural sector, resulting from the changes of the CAP Health Check, has rendered ACPs more respondent to market signals, highlighting a more liberalized market. Essay 2 (discussed in Chapter 4) assesses the price transmission mechanism along the European food supply chain, employing an asymmetric panel vector error correction m…
author: Ροκοπάνος, Ανδρέας
language: en
keywords: Price transmission, Agricultural commodities, Dairy markets, Panel error correction models, Copula models, Μετακύλιση τιμών, Αγροτικά προϊόντα, Αγορές γαλακτοκομικών, Υποδείματα διόρθωσης σφάλματος για panel δεδομένα, Υποδείγματα copula
date published: 2019-11-03T10:27:59Z
date modified: 2026-07-27T20:29:35Z
provider: University of Patras
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: University of Patras

PropertyValue
property ID: Handle
value: http://hdl.handle.net/10889/12777