Imperfect transmission of policy prices
- 1 January 1985
- journal article
- research article
- Published by Oxford University Press (OUP) in European Review of Agricultural Economics
- Vol. 12 (3) , 171-186
- https://doi.org/10.1093/erae/12.3.171
Abstract
It is commonly assumed that changes in agricultural policy prices cause equal changes in wholesale and producer prices. In other words, there is ‘perfect transmission’ of policy prices. This paper sets out reasons why such perfect transmission does not occur in practice. Econometric results for UK feed-cereal prices support the argument.Keywords
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