수입 밀 가격의 밀가루 및 라면에 대한 비대칭적 가격전이 효과 분석

An Analysis of Asymmetric Price Transmission of Imported Wheat Prices on Flour and Ramen

This study examines the effects of imported wheat on price of flour and ramen with a focus on asymmetric price transmission. The rise in price of imported wheat affects the change in domestic wholesale price of flour after a considerable period of time. And the effects of flour’s wholesale prices on retail prices differ slightly depending on distribution channels. In particular, asymmetric price transmission is relatively clear in distribution channels which have large sales, compared to small distribution channels. The above results show that the cause of asymmetric price transmission may be the difference of the distribution process of products. On the other hand, fluctuations in prices of raw materials, including flour, did not affect the wholesale price of ramen. This seems to be because the share of raw materials in the production cost of ramen is lower than that of flour, and ramen is the subject of government s price control.