Prices transmition on the lamb regional markets in Spain


  • L. Boshnjaku Institute for Development and Research Alternatives
  • Monia Ben Kaabia Universidad de Zaragoza
  • José María Gil-Roig Universidad Politécnica de Cataluña



price transmission, cointegration, lead-lag relationships, Spanish lamb sector


The analysis of price relationships in commodity markets provides an approximate idea on markets performance as well as allows the researcher to analyze price responses to unanticipated shocks. The objective of this paper is to explore price relationships in geographical separated markets in the Spanish lamb sector. The methodology used is based on the specification of multivariate time series models which are flexible enough to take into account the stochastic properties of data, the multivariate nature of price relationships and to distinguish between short- and long-run horizons. Results indicate that lamb markets in Spain are strongly related being Zafra the leading market. The influence of Zafra is substantial in the southern markets while in the North, the Lonja del Ebro could be considered as the most representative market.


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Author Biographies

Monia Ben Kaabia, Universidad de Zaragoza

Departamento de Análisis Económico

José María Gil-Roig, Universidad Politécnica de Cataluña

Departamento de Ingeniería Agroalimentaria y Biotecnología (DEAB).


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