Price Volatility Transmission in Food Supply Chains: A Literature Review

Research output: Contribution to journalReview articleAcademicpeer-review

10 Citations (Scopus)

Abstract

This paper reviews the literature on price volatility transmission in vertical food markets. The methods and major findings of the literature are discussed and avenues for future research are suggested. The literature review shows that price volatility is analyzed using a class of univariate and multivariate GARCH models. The reviewed studies conclude that price volatility transmits along food supply chains thereby exposing all chain actors to risk and uncertainty. Extension of the limited sample period, country, product, and chain stages coverage of the current literature are suggested as avenues for future research. A largely ignored aspect in the current literature is the identification and empirical testing of the role of contextual factors on the degree of price volatility transmission.
LanguageEnglish
Pages3-13
JournalAgribusiness
Volume31
Issue number1
DOIs
Publication statusPublished - 2015

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Volatilization
Food Chain
Food Supply
food supply
literature review
food supply chain
food market
Uncertainty
uncertainty
markets
Food
coverage
volatility
price
literature
Volatility transmission
Price volatility
Supply chain
Food supply
Literature review

Keywords

  • multivariate garch approach
  • rational-expectations
  • market power
  • sector
  • framework
  • spillover
  • dynamics
  • crisis
  • impact

Cite this

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title = "Price Volatility Transmission in Food Supply Chains: A Literature Review",
abstract = "This paper reviews the literature on price volatility transmission in vertical food markets. The methods and major findings of the literature are discussed and avenues for future research are suggested. The literature review shows that price volatility is analyzed using a class of univariate and multivariate GARCH models. The reviewed studies conclude that price volatility transmits along food supply chains thereby exposing all chain actors to risk and uncertainty. Extension of the limited sample period, country, product, and chain stages coverage of the current literature are suggested as avenues for future research. A largely ignored aspect in the current literature is the identification and empirical testing of the role of contextual factors on the degree of price volatility transmission.",
keywords = "multivariate garch approach, rational-expectations, market power, sector, framework, spillover, dynamics, crisis, impact",
author = "T.T. Assefa and M.P.M. Meuwissen and {Oude Lansink}, A.G.J.M.",
year = "2015",
doi = "10.1002/agr.21380",
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journal = "Agribusiness",
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Price Volatility Transmission in Food Supply Chains: A Literature Review. / Assefa, T.T.; Meuwissen, M.P.M.; Oude Lansink, A.G.J.M.

In: Agribusiness, Vol. 31, No. 1, 2015, p. 3-13.

Research output: Contribution to journalReview articleAcademicpeer-review

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AB - This paper reviews the literature on price volatility transmission in vertical food markets. The methods and major findings of the literature are discussed and avenues for future research are suggested. The literature review shows that price volatility is analyzed using a class of univariate and multivariate GARCH models. The reviewed studies conclude that price volatility transmits along food supply chains thereby exposing all chain actors to risk and uncertainty. Extension of the limited sample period, country, product, and chain stages coverage of the current literature are suggested as avenues for future research. A largely ignored aspect in the current literature is the identification and empirical testing of the role of contextual factors on the degree of price volatility transmission.

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KW - rational-expectations

KW - market power

KW - sector

KW - framework

KW - spillover

KW - dynamics

KW - crisis

KW - impact

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