The study of spatial price relationships helps to explain market performance and the degree of market integration. This paper provides an empirical analysis of the long- and short-run price linkages in the olive oil market of the Mediterranean using Time Series techniques. The empirical results suggest the existence of a stable long-run relationships among prices in Spain, Italy, and Greece. They also suggest that the major producer and exporter (Spain) is the price leader while Greece and Italy are the followers.
{"title":"Spatial Price Relationships in the Olive Oil Market of the Mediterranean","authors":"P. Fousekis, S. Klonaris","doi":"10.22004/AG.ECON.26461","DOIUrl":"https://doi.org/10.22004/AG.ECON.26461","url":null,"abstract":"The study of spatial price relationships helps to explain market performance and the degree of market integration. This paper provides an empirical analysis of the long- and short-run price linkages in the olive oil market of the Mediterranean using Time Series techniques. The empirical results suggest the existence of a stable long-run relationships among prices in Spain, Italy, and Greece. They also suggest that the major producer and exporter (Spain) is the price leader while Greece and Italy are the followers.","PeriodicalId":7541,"journal":{"name":"Agricultural Economics Review","volume":"106 1","pages":"22-35"},"PeriodicalIF":0.0,"publicationDate":"2002-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75672113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper derives sufficient conditions (in terms of supply and demand elasticities) for producers to gain under different supply shifts when supply and demand are specified to be linear functions and supply is inelastic. It is shown that regardless of the type of supply shift, producers lose whenever the sum of absolute values of supply and demand elasticities is less than one, while they gain when production takes place in the elastic portion of the demand. In all other cases arising from alternative elasticity configurations simple formulas developed in this paper may be used to determine the direction of change in producers surplus.
{"title":"The Effects of Supply Shifts on Producers' Surplus: the Case of Inelastic Linear Supply Curves","authors":"G. Karagiannis, W. H. Furtan","doi":"10.22004/AG.ECON.26430","DOIUrl":"https://doi.org/10.22004/AG.ECON.26430","url":null,"abstract":"This paper derives sufficient conditions (in terms of supply and demand elasticities) for producers to gain under different supply shifts when supply and demand are specified to be linear functions and supply is inelastic. It is shown that regardless of the type of supply shift, producers lose whenever the sum of absolute values of supply and demand elasticities is less than one, while they gain when production takes place in the elastic portion of the demand. In all other cases arising from alternative elasticity configurations simple formulas developed in this paper may be used to determine the direction of change in producers surplus.","PeriodicalId":7541,"journal":{"name":"Agricultural Economics Review","volume":"12 1","pages":"1-7"},"PeriodicalIF":0.0,"publicationDate":"2002-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76010461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The hypothesis of structural change in Greek meat demand was tested in a four meat dynamic almost ideal demand system. A gradual structural change was found. The estimated path of structural change implies a gradual transition to a new regime in the beginning of the decade of 80's. The structural change is biased towards pork and chicken and against beef and lamb & mutton and it does not affect the estimated elasticities concerning their elastic/inelastic nature but only the magnitude.
{"title":"Structural Change in Greek Meat Demand","authors":"S. Klonaris","doi":"10.22004/AG.ECON.26426","DOIUrl":"https://doi.org/10.22004/AG.ECON.26426","url":null,"abstract":"The hypothesis of structural change in Greek meat demand was tested in a four meat dynamic almost ideal demand system. A gradual structural change was found. The estimated path of structural change implies a gradual transition to a new regime in the beginning of the decade of 80's. The structural change is biased towards pork and chicken and against beef and lamb & mutton and it does not affect the estimated elasticities concerning their elastic/inelastic nature but only the magnitude.","PeriodicalId":7541,"journal":{"name":"Agricultural Economics Review","volume":"43 1","pages":"31-41"},"PeriodicalIF":0.0,"publicationDate":"2001-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87863901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the determinants of agricultural price formation emphasising on the detection of possible impacts caused by inflation uncertainty. The empirical methodology employs the GARCH technique to model the "uncertainty" variable, as well as VAR modelling and variance decomposition analysis to investigate possible causal effects among the involved variables.
{"title":"A Multivariate Model for the Relationship Between Agricultural Prices and Inflation Uncertainty: Evidence Using Greek Data","authors":"Nikolaos M. Tabakis","doi":"10.22004/AG.ECON.26436","DOIUrl":"https://doi.org/10.22004/AG.ECON.26436","url":null,"abstract":"This paper investigates the determinants of agricultural price formation emphasising on the detection of possible impacts caused by inflation uncertainty. The empirical methodology employs the GARCH technique to model the \"uncertainty\" variable, as well as VAR modelling and variance decomposition analysis to investigate possible causal effects among the involved variables.","PeriodicalId":7541,"journal":{"name":"Agricultural Economics Review","volume":"28 1","pages":"28-38"},"PeriodicalIF":0.0,"publicationDate":"2001-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73927286","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides a general theoretical and methodological framework for the estimation of the translog production function using panel data. The estimation is carried out using generalised least squares estimator (random-effects model) under different maintained hypotheses for the underlying production technology. Our empirical results indicate that imposing a priori restrictions such as homotheticity, homogeneity or separability on the production structure are not palatable and should rather remain a testable hypothesis within the estimation framework.
{"title":"Approximation Properties and Estimation of the Translog Production Function with Panel Data","authors":"Evaggelos Tzouvelekas","doi":"10.22004/AG.ECON.26412","DOIUrl":"https://doi.org/10.22004/AG.ECON.26412","url":null,"abstract":"This paper provides a general theoretical and methodological framework for the estimation of the translog production function using panel data. The estimation is carried out using generalised least squares estimator (random-effects model) under different maintained hypotheses for the underlying production technology. Our empirical results indicate that imposing a priori restrictions such as homotheticity, homogeneity or separability on the production structure are not palatable and should rather remain a testable hypothesis within the estimation framework.","PeriodicalId":7541,"journal":{"name":"Agricultural Economics Review","volume":"7 1","pages":"33-48"},"PeriodicalIF":0.0,"publicationDate":"2000-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84267245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study proposes to evaluate the environmental sustainability of certain productive processes, which may be of interest for the enhancement, and economic development of specific hill and mountain areas of northern Italy. In order to make a comprehensive appraisal of the impact of the various activities in each geographical context, we adopted a methodology based on AHP multicriteria analysis. In particular, this method was applied to the cultivation of berries and fruit chestnut, also with reference to alternative cultures already consolidated in the areas under investigation
{"title":"Application of a Model for Evaluating the Environmental Sustainability of Cultures in Hill and Mountain Areas: The Case of Berries and Fruit Chestnuts in Northern Italy","authors":"C. Pirazzoli, A. Castellini","doi":"10.22004/AG.ECON.26410","DOIUrl":"https://doi.org/10.22004/AG.ECON.26410","url":null,"abstract":"This study proposes to evaluate the environmental sustainability of certain productive processes, which may be of interest for the enhancement, and economic development of specific hill and mountain areas of northern Italy. In order to make a comprehensive appraisal of the impact of the various activities in each geographical context, we adopted a methodology based on AHP multicriteria analysis. In particular, this method was applied to the cultivation of berries and fruit chestnut, also with reference to alternative cultures already consolidated in the areas under investigation","PeriodicalId":7541,"journal":{"name":"Agricultural Economics Review","volume":"124 1","pages":"57-70"},"PeriodicalIF":0.0,"publicationDate":"2000-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87995122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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