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    3. Dynamic relationships among changes in prices of beef, pork, and chicken in Japan: A Bayesian approach

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    Collection:
    Agricultural Communications Documentation Center (ACDC)
    Contributers:
    Noda, Hideo (author) and Kyo, Koki (author)
    Format:
    Journal article
    Publication Date:
    2022-12-09
    Published:
    Netherlands: Elsevier B.V.
    Location:
    Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 206 Document Number: D12815
    Journal Title:
    Journal of Agriculture and Food Research
    Journal Title Details:
    Vol. 11
    Notes:
    11 pages, In this paper, we investigate the interdependence among changes in the prices of beef, pork, and chicken in Japan using a time-varying coefficient vector autoregressive model. Our empirical analysis using monthly data from January 1990 to March 2014 shows that changes in beef prices have long-term influences on changes in pork and chicken prices. Moreover, current changes in the prices of beef, pork, and chicken are closely related to changes in their prices in the preceding two months. Additionally, we do not find that the bovine spongiform encephalopathy outbreak announced by the Japanese government in September 2001 had a long-term influence on the dynamic relationships among changes in the prices of beef, pork, and chicken in Japan.