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| Rezitis, Anthony N.; Stavropoulos, Konstantinos S.. |
| This paper examines supply response models in a rational expectations framework for each one of the four major Greek meat markets, i.e. beef, broiler, lamb and pork. A multivariate GARCH model with Cholesky decomposition is used to incorporate price volatility into the rational expectations supply response model for each meat category and as a result the conditional covariance matrix remains positive definite without imposing any restrictions on the parameters. The empirical results confirm the existence of rational behaviour by meat producers in the four examined markets and indicate that price volatility is a major risk factor in Greek meat production while feed prices and veterinarian medicine prices are both important cost factors. Furthermore, the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Meat supply; Price volatility; Rational expectations; MGARCH.; Agricultural and Food Policy. |
| Ano: 2009 |
URL: http://purl.umn.edu/58120 |
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| Wohlgenant, Michael K.; Rezitis, Anthony N.; Safley, Charles D.. |
| Analysis of demand for pansies and mums sold in independent garden centers indicates that price and age are important factors influencing demand. In the fall of 1996, data were collected from a survey of independent garden centers in North Carolina. Statistical analysis was conducted by estimating the relationship between consumer expenditure shares of pansies and mums and prices paid per plants, household income, and various demographic and product characteristic variables. The models were estimated by the least-squares method with correction for selectivity bias, resulting from zero purchases. Own-price elasticities of demand for pansies and mums of 0.80 and 0.76, respectively, were estimated. The results also indicate that older customers who live... |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/26425 |
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| Rezitis, Anthony N.; Tsiboukas, Kostas; Tsoukalas, Stauros. |
| This study investigates a number of factors influencing technical efficiency of Greek farms participating in the 1994 European Union (EU) farm credit program. Technical efficiency measures are obtained within the framework of a parametric stochastic frontier. Factors showing a positive effect on technical efficiency are value of liabilities, number of hours of mechanical operation, large land size, and rental land, whereas those showing a negative effect are value of EU product subsidies, value of off-farm family income, and hired labor. The value of investments incurred by farms because of their participation in the 1994 farm credit program does not show any significant effect on technical efficiency. The predicted levels of technical efficiency... |
| Tipo: Journal Article |
Palavras-chave: Farm credit program; Stochastic frontier; Technical efficiency; Q10; Q12; Q16; Q19. |
| Ano: 2003 |
URL: http://purl.umn.edu/43157 |
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| Rezitis, Anthony N.. |
| This paper investigates volatility spillover effects, i.e. 'meteor showers' and 'heat waves', across consumer meat prices for lamb, beef, pork, and poultry. The empirical analysis used the methodology of the Generalized Autoregressive Conditional Heteroskedastic (GARCH) approach. The empirical results support the presence of significant 'meteor shower' and 'heat wave' effects across the four meat categories under consideration. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/26421 |
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| Mishra, Ashok K.; Rezitis, Anthony N.. |
| This paper investigates the effect of technological change on the demand for, and supply of, hired farm workers in the United States for the period 1950 to 1992. Particular attention is given to the proxy for technological change. We have used total expenditures, both by public and private sectors, for research and development in the field of agriculture. We find that technology has a negative impact on the hired labor demand after the second and third year of initial investment. Our results show that technology is labor saving. The demand and supply elasticities were found to differ from other studies. We also derive elasticities of adjustment and draw some policy conclusions. The paper also presents a dynamic-in-period simulation of the estimated model. |
| Tipo: Journal Article |
Palavras-chave: Elasticity; Hired workers; Technological change; Total expenditures; Agribusiness; Labor and Human Capital. |
| Ano: 1998 |
URL: http://purl.umn.edu/90432 |
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| Rezitis, Anthony N.; Stavropoulos, Konstantinos S.. |
| This study examines the supply response of the Greek beef market and the possible effect of the European Union’s Common Agricultural Policy (CAP) on the Greek beef sector during the period 1993-2005. A GARCH process is used to estimate expected price and price volatility while several different symmetric, asymmetric and nonlinear GARCH models are estimated. The empirical results show that price volatility and feed price are important risk factors of the supply repose function, while the negative asymmetric price volatility which was detected implies that producers have a weak market position. Furthermore, the empirical findings confirm that the annual premium paid by EU to beef producers had a positive impact on the production level and that the change of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Beef supply; Price volatility; CAP; Agricultural and Food Policy; Demand and Price Analysis. |
| Ano: 2008 |
URL: http://purl.umn.edu/44210 |
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