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The objective of this study is to determine whether long run relationships exist among Australian beef prices at the farm, wholesale and retail levels using cointegration techniques. Monthly data from 1971 to 1994 are us~d for the analysis. Preliminary results show that while all three prices considered are nonstationary, they are cointegrared. Furthennore, the retail price is weakly exogenous. The lauer result is an indication of market inefficiency due in part to price levelling behaviour at the retail level. Implications and areas for further research are also provided.

Subject(s): Livestock Production/Industries

Production Economics

Issue Date: 1997

Publication Type: Conference Paper/ Presentation

PURL Identifier: http://purl.umn.edu/135741

Total Pages: 17

Record appears in: Australian Agricultural and Resource Economics Society (AARES) > 1997 Conference (41st), January 22-24, 1997, Gold Coast, Australia

Autor: Chang, Hui-Shung Christie ; Griffith, Garry R.

Fuente: http://ageconsearch.umn.edu/record/135741?ln=en

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