KREI Repository: STRUCTURAL CHANGES IN KOREAN LIVESTOCK PRICES

STRUCTURAL CHANGES IN KOREAN LIVESTOCK PRICES

목차: CONTENTS
I. Introduction
Ⅱ. Elements of Structural Changes in
Livestock Prices
Ⅲ. Models for Investigating Structural Change
Ⅳ.
Estimation Results
Ⅴ.
Summary and Concluding Remarks
ABSTRACT
A vector autoregressive (VAR) model with grid search that allows parameters
to vary with time was applied to investigate the structural break points and the
speed of adjustment for Korean livestock prices. Our results suggest that VAR
for Korean beef prices experienced a rather rapid structural shift in the mid
1987 while pork prices showed gradual structural break in the early 1991.
Chicken prices experienced a structural change centered on late 1984. Beef,
pork, and chicken prices experienced a structural change in the early
1980s.

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