한국 축산물 가격의 비대칭성

Asymmetric Price Transmission in Korean Meat Prices

This paper investigates the asymmetry of the price transmission in Korean meat industry using the monthly data from 1980 to 2005. The Error Correction Model (ECM) is applied to analyze the dynamic asymmetry of meat prices such as beef, pork, chicken, and egg prices. The performance of estimation is generally acceptable in terms of model validation and statistical significance of the estimates. The results imply that the asymmetry of beef price took place in wholesale-retail level, while that of pork price occurred in producer-wholesale level. The asymmetry of chicken and egg price transmission occurred in wholesale-retail level. These asymmetries could be explained respectively by investigating the marketing structures of each meat industry.