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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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| Morgan, C. Wyn; McCorriston, Steve. |
| Empirical studies of price transmission often suggest that imperfect pass-through may be due to market power exerted by food retailers. However, these econometric studies essentially lack any formal basis for tying the role of market power with data comprising of retail and producer prices only. We show that if market power has an effect on the farm-retail margin, this determines the specification of the cointegrating relationship. To emphasise the relevance of the tests, we focus on results relating the UK beef sector and show that market power is likely to have played a role in determining the retail-farm price margin. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Price adjustment; Market power; Demand and Price Analysis; Q11; L13. |
| Ano: 2005 |
URL: http://purl.umn.edu/24485 |
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| Lloyd, Tim A.; Morgan, C. Wyn; McCorriston, Steve; Zgovu, Evious. |
| This paper assesses the impact of promotional activity in the prices of food products on supermarket shelves. The study analyses a unique, high frequency panel of supermarket prices consisting of over 230,000 weekly price observations on around 500 products in 15 categories of food stocked by the UK’s seven largest retail chains. In all, 1,700 weekly time series are available at the barcode-specific level including branded and own label products. Prices are inclusive of promotions and thus allow the frequency, magnitude and duration of sales to be analysed in greater detail than has hitherto been possible with UK data. Using this price data, sales periods are indentified. Results show that around 8% of products are on sale at any one time, and that sales... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Food retailing; Pricing; Sales; Demand and Price Analysis; Industrial Organization; Marketing; L16; L66; Q13. |
| Ano: 2009 |
URL: http://purl.umn.edu/51572 |
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