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英文文献：Explaining Price Transmission Asymmetry In The Us Peanut Marketing Chain-解释美国花生营销链中的价格传递不对称
英文文献作者：Revoredo-Giha, Cesar,Nadolnyak, Denis A.,Fletcher, Stanley M.
英文文献摘要：
n the paper, we study price transmission from wholesale peanut prices to retail peanut butter prices. Using monthly data since 1984, we show that, while an increase in peanut prices is almost immediately transferred to peanut butter prices, it takes several months for a price decrease to be reflected in the peanut butter prices. Besides, the long term price transmission effect also appears to be symmetric. The observed short and long-term asymmetry is explained as a result of profit maximizing inventory management and/or some degree of market power in peanut processing.
本文研究了花生批发价格与花生酱零售价格之间的传导关系。使用1984年以来的月度数据，我们表明，虽然花生价格的上涨几乎会立即转化为花生酱价格，但价格的下降需要几个月的时间才能反映在花生酱价格上。此外，长期的价格传导效应也是对称的。所观察到的短期和长期不对称可以解释为利润最大化的库存管理和/或花生加工中某种程度的市场力量的结果。
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