Footnote:
In: Journal of International Food & Agribusiness Marketing, Forthcoming
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 1, 2011 erstellt
Description:
This article investigates the non-linear adjustment between consumer and producer prices in the Greek milk sector, using a threshold error correction autoregressive model. The results reject the null hypothesis of linear cointegration in favor of a two-regime threshold cointegration model. A cointegrating relationship is expected only when equilibrium consumer price is decreased more than 24.12% or the equilibrium relative mark-up is squeezed more than 62.74%. In this case consumer prices have to increase faster than producer prices to restore the long-run equilibrium between consumer-producer milk prices