| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Modeling Pork Supply Response and Price Volatility: The Case of Greece
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| Autores: |
Rezitis, Anthony N.
Stavropoulos, Konstantinos S.
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| Data: |
2009-04-02
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| Ano: |
2009
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| Palavras-chave: |
Asymmetry
GARCH
Pork supply
Price volatility
Agribusiness
Demand and Price Analysis
International Development
Risk and Uncertainty
C510
D200
Q110
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| Resumo: |
This paper examines the supply response of the Greek pork market. A GARCH process is used to estimate expected price and price volatility, while price and supply equations are estimated jointly. In addition to the standard GARCH model, several different symmetric, asymmetric, and nonlinear GARCH models are estimated. The empirical results indicate that among the estimated GARCH models, the quadratic NAGARCH model seems to better describe producers’ price volatility, which was found to be an important risk factor of the supply response function of the Greek pork market. Furthermore, the empirical findings show that feed price is an important cost factor of the supply response function and that high uncertainty restricts the expansion of the Greek pork sector. Finally, the model provides forecasts for quantity supplied, producers’ price, and price volatility.
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| Tipo: |
Journal Article
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/48764
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| Relação: |
Journal of Agricultural and Applied Economics>Volume 41, Number 01, April 2009
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| Formato: |
18
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