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| Campbell, Rachel; Gardiner, B.; Haszler, Henry. |
| A preliminary analysis of demand in eight major OECD wool-consuming countries is used to provide up-to-date estimates of price elasticities of demand for wool. Those elasticities are employed to calculate ex ante market prices, assuming no wool price stabilisation in Australia. The computed ex ante prices are used in a dynamic simulation to estimate demand and, hence, revenue from wool sales to the eight countries in the absence of reserve price operations in Australia. Based on the preferred semi-log demand curve, the variability of wool prices is estimated to have been reduced by 44 per cent, due to Australian intervention in the market up to 1977/78. However, price stabilisation is estimated to have lowered the revenue from Australian wool sales to the... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Marketing. |
| Ano: 1980 |
URL: http://purl.umn.edu/23066 |
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| Reynolds, R.G.; Gardiner, B.. |
| Microeconomic capital goods theory was utilised to provide a theoretical framework on which a dynamic econometric model was based. Econometric procedures were then employed in an analysis of sheep producers' decision making regarding the annual supplies of wool, lamb and mutton, and annual changes in the inventory levels of sheep, lambs and ewes maintained for breeding purposes. Estimates show that wool prices provide the long-run stimulus for increases and decreases in the sheep flock while mutton and lamb prices are responsible for short-run changes in flock composition. Substitution between sheep and beef cattle is of considerable importance although no significant substitution between sheep and cropping could be found. Seasonal conditions proved to be... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Productivity Analysis. |
| Ano: 1980 |
URL: http://purl.umn.edu/22910 |
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