A partial adjustment model with rational expectations applied to the goat sector in Greece

In this paper an attempt is made to examine the rational expectations hypothesis for the goat-meat sector in Greece within the framework of a single equation method that describes the factors affecting demand and supply. The structural equations of the model are estimated by applying the Cochrane-Orcutt technique. The calculated elasticities suggest that Greek goat producers should pay more attention to milk rather than meat production. Statistical indications also confirm the effects of the Chernobyl accident upon the goat sector. Moreover, the forecasting ability of the model has been tested using simulation procedures, which indicate a small deviation between theoretical and observed values. Finally, some further implications concerning the goat sector are drawn from this analysis.


Issue Date:
1995-08
Publication Type:
Journal Article
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/173579
PURL Identifier:
http://purl.umn.edu/173579
Published in:
Agricultural Economics: The Journal of the International Association of Agricultural Economists, 12, 2
Page range:
163-170
Total Pages:
8




 Record created 2017-04-01, last modified 2019-08-29

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)