Is there a significant change in the price transmission between producer and retail prices within the British Pork industry
Bibliographic record
Abstract
The purpose of this study is to examine price transmission between the producer and retail in the UK pork industry.It aims to find the direction of causality in the long and short-run, and whether there is a long-run relationship between producer and retail prices.This study used monthly time series data for producer and retail prices ranging from 1988-2016.Econometric tests were used such as the Augmented Dickey-Fuller (1979) and Phillips-Perron (1988) Unit Root tests; Bai-Perron (1998) Unit Root test allowing for multiple structural breaks; Johansen (1991) and Engle-Granger (1987) Co-integration tests; Granger (1988) Causality, and the Error Correction Model showing the speed of recovery in the long-run after a shock.The results of the Unit Root tests found both producer and retail prices to be integrated of order one I(1).Three structural breaks were found occurring in the years of 1996, 2002 and 2012.The Co-integration tests found that there is one long-run relationship between producer and retail prices.The Error Correction Model showed the return to a new equilibrium after a shock was 9% per month totalling over 11 months for a full recovery from a shock.The Granger (1988) Causality test indicated that producer prices do Granger cause retail prices in the shortrun.In this study the latest econometric techniques were used including structural breaks which some previous studies overlooked.This study into the producer and retail prices in the UK pork industry is the latest study of this kind since the Brexit decision.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.007 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.000 | 0.001 |
| Scholarly communication | 0.002 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.004 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".