The Journal of Fisheries Business Administration (수산경영론집)

The Korean Society of Fisheries Business Administration (한국수산경영학회)
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A Dynamic Causality Analysis of Oliver Flounder Producer Price by Region using the Panel VAR Model

패널 VAR 모형을 이용한 지역별 양식넙치 산지가격의 동태적 인과관계 분석

  • Jeon, Yong-Han (Division of Economics, College of Humanities & Social Sciences, Pukyong National University) ;
  • Nam, Jong-Oh (Division of Economics, College of Humanities & Social Sciences, Pukyong National University)
  • 전용한 (부경대학교 인문사회과학대학 경제학부) ;
  • 남종오 (부경대학교 인문사회과학대학 경제학부)
  • Received : 2020.12.16
  • Accepted : 2021.03.23
  • Published : 2021.03.31
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Abstract

The purpose of this study is to identify the leading price between Jeju and Wando's oliver flounder producer price and to analyze the dynamic effect of the regional producer price using the panel VAR model. In the process of analysis, it was confirmed that there are unit roots in the monthly data of Jeju and Wando's oliver flounder producer price. So, in order to avoid spurious regression, the rate change of producer price which carries out log difference was used in the analysis. As a result of the analysis, first, the panel Granger causality test showed that the influence of the change rate of producer price in oliver flounder in Jeju was slightly larger than that in Wando, but it was found that each region all leads the change rate of the producer price in oliver flounder. Second, the panel VAR estimation showed that the rate change of producer price in Jeju and Wando a month ago had a statistically significant effect on the change rate of producer price of each region. Third, the impulse response analysis indicated that other regions are affected a little more than the same region in case of the occurrence of the impact on the error terms of the change rate of produce price in Jeju and Wando oliver flounder. Fourth, the variance decomposition analysis showed that the change rate of producer price in the two regions was higher explained by Jeju compared to Wando. In conclusion, it is expected that the above results can not only be useful as basic data for the stabilization of oliver flounder producer price and the establishment of policies for easing volatility but can also help the oliver flounder industry operate its business.

Keywords

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