The Current Situation of Multiple Markets Network in the Tokyo Metropolitan Central Wholesale Market System

DOI Web Site 3 References Open Access
  • HORIUCHI Miyu
    Faculty of Agriculture, The University of Tokyo (Former)
  • KIMURA Yuki
    Graduate School of Agricultural and Life Sciences, The University of Tokyo
  • NAKASHIMA Yasuhiro
    Graduate School of Agricultural and Life Sciences, The University of Tokyo

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Other Title
  • 東京都中央卸売市場における市場間ネットワークの実態
  • An Analysis of Price Transmission by Vector Error Correction Model
  • －ベクトル誤差修正モデルによる価格伝達構造の分析－

Abstract

The network of multiple markets is becoming more important, while the amount of vegetables traded through the central wholesale market system is decreasing. We investigated the structure of the current wholesale markets network using the daily price of radish at four branch markets in Tokyo Metropolitan Central Wholesale. We applied the vector error correction model (VECM). Based on the estimated VECM, we tested whether these markets were integrated and analyzed which market had a stronger influence on the others. The results suggest that these markets are integrated and that Ota has the strongest influence on the other markets except Kita-Adachi.

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