Bachmeier, Lance J.Pozo, Veronica F.Schroeder, Ted C.2019-05-232019-05-232020-02-01http://hdl.handle.net/2097/39780We examine price transmissions among farm, wholesale and retail U.S. beef markets using two types of retail price data, one collected by the Bureau of Labor Statistics (BLS), and the other one collected at the point of sale using electronic scanners. Using a test based on the simulation of nonlinear impulse response functions, we find no evidence of vertical asymmetric price transmissions in models estimated using scanner data. However, prices adjust asymmetrically in models estimated using BLS data. Because scanner prices are more reflective of actual consumer purchases, the U.S. beef market is not as inefficient as previous studies suggest.en-USThis Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s).Price AsymmetryBLS PricesScanner PricesNonlinear Impulse Response FunctionsBeef MarketThreshold Vector Error Correction ModelsText