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Asymmetric Price Transmission in the Livestock Industry of Thailand

机译：泰国畜牧业的不对称价格传播

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This study aimed to investigate the farm-retail price transmission for the livestock industry in Thailand employing monthly data from 2002 to 2012. Using the Engle-Granger two step approach, the study confirmed that farmgate prices were cointegrated with retail prices in the poultry and swine industry. Consequently, an asymmetric error correction model (AECM) was used to test for asymmetric price transmission between farmgate and retail prices of chicken and pork. Results show that the pork industry, which is focused on supplying domestic consumption and has heavy export restrictions, is characterized by positive asymmetric price transmission whereas the poultry industry, which is highly export-oriented, is characterized by symmetric price transmission. This suggests that the export-oriented nature of the poultry market has linked Thailand's domestic market with the international market. This has led to an increase in market competition, allowing for increases and decreases of farmgate prices to be equally transmitted to retail prices of chicken.
机译：本研究旨在调查泰国畜牧业的农业零售价格传播，从2002年到2012年雇用每月数据。使用恩格拉格格尔两步的方法，该研究证实，农场价格与家禽和猪的零售价格共同聚集在一起行业。因此，不对称误差校正模型（AECM）用于测试鸡肉和猪肉零售价格之间的不对称价格传输。结果表明，猪肉行业专注于供应国内消费并具有重大出口限制，其特点是积极的不对称价格传播，而禽类行业是高度出口导向的，以对称的价格传播为特征。这表明家禽市场的出口导向性质将泰国的国内市场与国际市场联系起来。这导致了市场竞争的增加，允许增加和减少农场价格，以便同样地传播鸡的零售价。

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