PRICE TRANSMISSION, THRESHOLD BEHAVIOR, AND ASYMMETRIC ADJUSTMENT IN THE U.S. PORK SECTOR
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An asymmetric, threshold error correction model is used to evaluate price transmission among farm, wholesale, and retail pork markets. Threshold effects are confirmed. Results indicate asymmetries and suggest that adjustments are completed in about four weeks. Price transmission is unidirectional, flowing from the farm, to wholesale markets, to retail markets.