Antitrust intervention and price transmission in pasta supply chain

Agricultural and Food Economics

Table 3 Estimated Pre-Antitrust sentence and Post-Antitrust sentence pasta producer price models

	Jan 2005-Aug 2008		Sept 2008-Sept 2013
	Estimate	t	Estimate	t
	Rising semolina price coefficients
Current	0.768	5.48^a	−0.417	−3.57^a
One month	−0.016	−0.110	0.219	1.91^c
Two month	0.591	3.92^a	−0.063	−0.530
Three month	−0.029	−0.190	0.300	2.62^b
	Falling semolina price coefficients
Current	0.493	1.52	−0.137	−0.68
One month	−2.737	−6.81^a	0.712	3.2^a
Two month	0.891	1.95^c	0.199	0.92
Three month	1.642	4.22^a	0.009	0.06
	Other costs
Labour	−0.002	−0.990	0.000	−0.500
Energy	0.000	0.380	0.000	0.260
Trend	−0.001	−1.81^c	0.004	3.37^a
	Aggregate lagged effect
Sum of rising coefficient	1.314		0.039
Sum of falling coefficient	0.288		0.783
Differcence^d	1.026	3.61^a	−0.745	3.65^a
R2	0.92		0.88
Durbin-Watson	1.88		1.67
Sample size	44		60

^aStatistically different from zero at 1 %; ^bStatistically different from zero at 5 %; ^cStatistically different from zero at 10 %
^dDifference indicates the subtraction between the sum of rising coefficients and the sum of falling ones.