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| Lloyd, Tim A.; Morgan, C. Wyn; McCorriston, Steve; Rayner, Anthony J.. |
| This paper is concerned with the impact of the BSE crisis in the UK and focuses on the spread between retail and farm prices. From a theoretical perspective we show that if market power has an effect on the spread between retail and farm prices then this determines the specification of the co-integrating relationship. We also account for different aspects of the BSE crisis including the shift in the retail demand function as well as the shift in the farm supply function due to the mutually opposing effects of a worldwide export ban and the cull of infected and older beef cattle. The empirical results suggest that the impact of the BSE crisis on farm prices to be more than double that of retail prices, the main cause of the change in the retail-farm price... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/25904 |
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| Wang, Xiuqing; Weldegebriel, Habtu T.; Rayner, Anthony J.. |
| In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply shock. With the view to evaluating the impact of market power's interaction with industry technology on the degree of price transmission, we assume industry technology to be characterised by variable input proportions and non-constant returns to scale. Our model predicts that, relative to that which obtains when markets are perfectly competitive and industry technology is... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Price transmission; Returns to scale; Market power; Demand and Price Analysis; Marketing; L11; Q13. |
| Ano: 2006 |
URL: http://purl.umn.edu/46004 |
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