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Table 2 Estimation of the short-run relationship for price transmission of soymeal

From: The distortion in the EU feed market due to import constraints on genetically modified soy

Dep. Var. (\(\Delta {y}_{t}\))

\(\Delta {\mathit{ln}SoyNonGM}_{Swd,t}\)

\(\Delta {\mathit{ln}SoyNonGM}_{AT,t}\)

Sweden.Ref

Sweden.Alt

Austria.Ref

Austria.Alt

\(Adjustment coeft.\)

− 0.289***

(0.066)

− 0.283***

(0.082)

− 0.357***

(0.075)

− 0.400***

(0.076)

\(\Delta {y}_{t-1}\)

0.025

(0.052)

− 0.027

(0.086)

–

–

\(\Delta {y}_{t-2}\)

0.144***

(0.050)

0.211**

(0.061)

–

–

\(\Delta {\mathit{ln}SoyNonGM}_{Brz,t-1}^{+}\)

0.077*

(0.088)

0.093

(0.091)

0.090

(0.086)

0.038

(0.089)

\(\Delta {\mathit{ln}SoyNonGM}_{Brz,t-2}^{+}\)

–

− 0.004

(0.083)

–

–

\(\Delta {\mathit{ln}SoyNonGM}_{Brz,t-3}^{+}\)

–

− 0.140*

(0.074)

–

–

\(\Delta {\mathit{ln}SoyNonGM}_{Brz,t-1}^{-}\)

0.332***

(0.081)

0.327***

(0.081)

0.048

(0.112)

0.018

(0.112)

\(\Delta {\mathit{ln}SoyNonGM}_{Brz,t-2}^{-}\)

–

–

− 0.196*

(0.103)

− 0.150*

(0.090)

\(\Delta {\mathit{ln}SoyNonGM}_{Arg,t-1}\)

0.362***

(0.071)

0.361***

(0.071)

0.389***

(0.093)

0.342***

(0.093)

\(\Delta {\mathit{ln}SoyNonGM}_{Arg,t-2}\)

–

− 0.063

(0.075)

0.178**

(0.069)

–

\(\Delta {\mathit{ln}SoyNonGM}_{Arg,t-3}\)

–

–

0.140***

(0.050)

–

\(\Delta {SD}_{1}\)

0.012

(0.008)

0.011

(0.007)

− 0.012

(0.011)

− 0.011

(0.011)

\(\Delta {SD}_{2}\)

0.024***

(0.008)

0.027***

(0.008)

− 0.010

(0.010)

− 0.011

(0.010)

\(\Delta DU\)

0.128***

(0.029)

0.127***

(0.029)

0.026 (0.016)

0.014

(0.015)

\(\Delta DB\)

− 0.009

(0.011)

− 0.004

(0.010)

− 0.002*

(0.001)

− 0.001*

(0.001)

\(\Delta {\mathit{ln}SoyGM}_{t-1}\)

–

0.005

(0.053)

–

0.192*

(0.116)

  1. Note: This table presents the estimated outcomes of the model in Eq. (5). The suffix ‘Ref’ and ‘Alt’ in the model name indicates ‘Reference’ and ‘Alternative’, respectively. The model ‘Sweden.Alt’ uses the Austrian price premium to generate prices for GM soymeal. Values in brackets are standard error. ***p < 0.01, **p < 0.05, *p < 0.1. Source: authors’ calculations