This paper explores the asymmetries in price transmission from international to local markets. We expect the presence of large intermediaries in agricultural markets to lead to a stronger price transmission when international prices decline than when they rise. The empirical evidence confirms...

This paper explores the asymmetries in price transmission from international to local markets. We expect the presence of large intermediaries in agricultural markets to lead to a stronger price transmission when international prices decline than when they rise. The empirical evidence confirms...