Imperfect transmission of policy prices
质疑农业政策价格变化会完全传导至批发和生产者价格的常见假设，并用英国饲料谷物价格数据证明现实中存在不完全传导。
<sec> It is commonly assumed that changes in agricultural policy prices cause equal changes in wholesale and producer prices. In other words, there is ‘perfect transmission’ of policy prices. This paper sets out reasons why such perfect transmission does not occur in practice. Econometric results for UK feed-cereal prices support the argument. </sec>