Modeling beef supply response and price volatility under CAP reforms: The case of Greece

Rezitis, Anthony N.; Stavropoulos, Konstantinos S.

doi:10.1016/j.foodpol.2009.10.005

Cited by 20 publications

(26 citation statements)

References 37 publications

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“…There are several reasons while the LOP may not hold (Conforti, 2004, Rezitis andStavropoulos, 2010). First, spatial price arbitrage takes time and therefore there could be price differences between different markets in the short-term despite long-term price equilibrium.…”

Section: Methodsmentioning

confidence: 99%

Evidence of Spatial Price Transmission in the Case of Kosovo

Braha

Rajčániová

Qineti

et al. 2019

AOL

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This study is focused on the analysis of spatial price transmission and market integration of Kosovo agricultural markets with world and EU markets. The paper employs asymmetric error correction model to quantify the extent, speed and nature of price adjustment for the long-run relationship between Kosovo, world and EU agricultural commodity prices. Monthly price data for key cereals (wheat, maize, barley) and beef meat covering the period 2004-2016 are used. Main findings of the study suggest that Kosovo is vulnerable to price transmitting signals from world and EU markets. Empirical results reveal evidence of asymmetry between Kosovo and world prices and signify stronger long-run relationship with the EU prices. Kosovo agricultural markets reacts to positive and negative price deviations, while world and EU prices do not respond on Kosovo price shocks. Kosovo as a price taker and as a country heavily reliant on agricultural and food imports has limited policy instruments to mitigate transmission of global price vulnerability. Under the current liberal trade regime with the regional and EU countries, any trade restrictive actions would have harming welfare effects on domestic consumers. Findings of this study contribute to agricultural and trade policymakers dealing with food prices and food security.

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Section: Methodsmentioning

confidence: 99%

Evidence of Spatial Price Transmission in the Case of Kosovo

Braha

Rajčániová

Qineti

et al. 2019

AOL

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“…To conduct such study, an econometric time-series analysis to estimate the beef response. Rezitis & Stavropoulos (2008) had conducted similar work in the case of Greek. To expand previous work, they put more emphasis on the price volatility, and used an econometric approach, i.e.…”

Section: Literature Reviewmentioning

confidence: 96%

Employing Agent-Based Simulation to Understand the Behavior of Domestic Beef-Cattle Production

Daud¹,

Putro²,

Utomo³

2013

Sosiohumaniora

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The purpose of this paper is mainly to understand the behavior of domestic beef production through estimating the dynamics of domestic cattle population. Agent based model (ABM) approach and its simulation is employed in this study. The main reason to use this approach is on its capability to accommodate the complexity given existing characteristics in cattle and beef production system. Based on the findings, agent-based model approach performs well in explaining the emergent behavior for agricultural production system, especially cattle production system. Several important implications have also been drawn from this study. Therefore, this study has generated several new insights that will be advantages for further studies. Keyword: beef cattle, population dynamics, agent based model, simulation. PENGGUNAAN SIMULASI BERBASIS AGEN UNTUK MEMAHAMI PRILAKU PRODUKSI SAPI POTONGKajian ini bertujuan untuk memahami perilaku produksi daging sapi di Indonesia yang diperoleh berdasarkan estimasi dinamika populasi sapi potong lokal. Model berbasis agen (agent-based model) dan simulasinya digunakan sebagai pendekatan utama dalam memperkirakan dinamika populasi tersebut. Penggunaan model ini didasarkan atas kemampuannya untuk mengakomodasi kompleksitas karakter produksi sapi potong dan daging sapi yang terdapat pada saat ini. Berdasarkan hasil kajian, pendekatan model berbasis agen dapat dengan baik menggambarkan dan menerangkan perilaku sistem produksi sapi potong sesuai dengan kondisi aktualnya. Beberapa faktor penting di dalam sistem produksi dan implikasinya terhadap kebijakan pengembangan usaha sapi potong dapat dihasilkan melalui model ini dan simulasinya.Kata kunci: daging sapi, sapi potong, dinamika populasi, model berbasis agen, simulasi.

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“…Following Rezitis and Stavropoulos [6], we assume that prices follow the autoregressive process (AR):…”

Section: Price Expectationmentioning

confidence: 99%

“…Several studies show that price risk is perceived as an important source of risk in many countries [1,2,3] and [4]. Agricultural prices are very volatile and do not follow a particular trend [5,6] and [7]. Given the lag between the production decision and marketing, farmers make decisions based on their expectations about prices.…”

Section: Introductionmentioning

confidence: 99%

“…These authors modelled price expectation and price risk using rational expectation and the difference between expected and actual price respectively. Holt and Aradhyula [14], Holt [15], Rezitis and Stavropoulos [16] and Rezitis and Stavropoulos [6] investigated the supply response of different agricultural products (broiler, beef, pork and beef respectively) to price risk. These authors have modelled price volatilities using a GARCH model.…”

Section: Introductionmentioning

confidence: 99%

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Effects of Price Insurance Programs on Supply Response: A Case Study of Corn Farmers in Quebec

Sedghy

Tamini²,

Lambert

2018

ARJA

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Aims: This study examines the supply response of corn in the province of Quebec. Study Design: A time series design is implemented. Place and Duration of Study: Our analysis covers the period from 1985 to 2013 and uses the data of corn production in the province of Quebec. Methodology: A generalised autoregressive conditional heteroskedasticity (GARCH) process is used to model output price expectations and its volatility. Results: We found that application of the Farm Income Stabilisation Insurance in Quebec neutralises the adverse effects of price volatilities on corn production and generates a market power for corn producers. The change in the producers' attitude towards risk is other implication of the insurance program. Conclusion: These results imply that implementation of the insurance program in the province of Quebec leads to an increase of corn production and consequently this increase in production can impose more compensation cost (paid by the insurance program) to governments.

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Modeling beef supply response and price volatility under CAP reforms: The case of Greece

Cited by 20 publications

References 37 publications

Evidence of Spatial Price Transmission in the Case of Kosovo

Evidence of Spatial Price Transmission in the Case of Kosovo

Employing Agent-Based Simulation to Understand the Behavior of Domestic Beef-Cattle Production

Effects of Price Insurance Programs on Supply Response: A Case Study of Corn Farmers in Quebec

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