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- W2099688416 abstract "In this study, we describe the price transmission mechanism for milk in Iran using annual data during 1982 to 2008. We apply a Markov-switching vector error correction model to allow for multiple regime shifts in the price relationship between wholesale price and retail price. Price transmission would be more important if any price change in farm level gets path through retail level asymmetrically. Despite there having been many changes affecting the milk market, the Markov-switching vector-equilibrium-correction model with three regimes representing recession, growth and high growth provides a good characterization of the sample data over the period 1982-2008 & also Wald test shows that these three regimes are significant. Results of Granjer causality show that there is one side relation from whole sale price to retail price in the milk market. Results also show that in the recession regime wholesale price puts a more effective impact on consumer price than two other regimes." @default.
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- W2099688416 date "2013-01-01" @default.
- W2099688416 modified "2023-09-23" @default.
- W2099688416 title "A Markov-Switching Vector Error Correction Model for Milk Market" @default.
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