An econometric estimation of the Swedish hog market : estimation of short and long run elasticites
The Swedish aggregated hog supply has been in a steadily decreasing trend during the last twenty years. In this paper the Swedish price supply relationship is examined to find elasticities for the market. The estimation of the supply function is made using AR (1) regression. The prices of inputs...
| Main Author: | |
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| Format: | M3 |
| Language: | Inglés Swedish |
| Published: |
SLU/Dept. of Economics
2017
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| Subjects: |
| _version_ | 1855572128913424384 |
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| author | Bergsland, Ulrik |
| author_browse | Bergsland, Ulrik |
| author_facet | Bergsland, Ulrik |
| author_sort | Bergsland, Ulrik |
| collection | Epsilon Archive for Student Projects |
| description | The Swedish aggregated hog supply has been in a steadily decreasing trend during
the last twenty years. In this paper the Swedish price supply relationship is examined
to find elasticities for the market. The estimation of the supply function is made
using AR (1) regression. The prices of inputs are made out of feed prices and the
prices of output are the price paid to the producer. A risk variable is introduced to
account for short term price fluctuations, however the risk variable shows no
significance. The period that is studied is 1996-2015 and analyses quarterly data.
The results suggest that the Swedish elasticities are in line with prior estimates in
other hog markets in the world. The conclusion drawn is that the relationship
between prices and supply are positive. Further research is proposed with further
refined methods and more variables included to confirm the results of this paper. |
| format | M3 |
| id | RepoSLU12777 |
| institution | Swedish University of Agricultural Sciences |
| language | Inglés swe |
| publishDate | 2017 |
| publishDateSort | 2017 |
| publisher | SLU/Dept. of Economics |
| publisherStr | SLU/Dept. of Economics |
| record_format | eprints |
| spelling | RepoSLU127772017-11-02T08:10:22Z An econometric estimation of the Swedish hog market : estimation of short and long run elasticites Bergsland, Ulrik elasticity hog supply econometrics time-series The Swedish aggregated hog supply has been in a steadily decreasing trend during the last twenty years. In this paper the Swedish price supply relationship is examined to find elasticities for the market. The estimation of the supply function is made using AR (1) regression. The prices of inputs are made out of feed prices and the prices of output are the price paid to the producer. A risk variable is introduced to account for short term price fluctuations, however the risk variable shows no significance. The period that is studied is 1996-2015 and analyses quarterly data. The results suggest that the Swedish elasticities are in line with prior estimates in other hog markets in the world. The conclusion drawn is that the relationship between prices and supply are positive. Further research is proposed with further refined methods and more variables included to confirm the results of this paper. Det svenska aggregerade utbudet av fläskkött har varit i en ständigt nedgående trend under de senaste tjugo åren. I denna uppsats undersöks den svenska pris- och utbudsrelationen och elasticiteten för den svenska grismarknaden föreslås. Estimeringen av den svenska utbudsfunktionen utförs genom AR(1) regression. Inputpriserna utgörs av foderpriser och produktpriserna utgörs av slaktsvinspriser. En riskvariabel introduceras för att räkna på korta fluktuationer i priserna och producenternas reaktioner kring detta, riskvariabeln visade ingen signifikans i resultatet. Studien sträcker sig mellan 1996-2015 och analyserar kvartalsdata. Resultaten visar på att elasticiteten på den svenska grismarknaden ligger i samma spann som internationella marknader. Slutsatsen som dras är att pris och utbudsrelationen är positiv. Det föreslås ytterligare undersökningar med fler variabler och en mer utvecklad metod för att bekräfta dessa resultat. SLU/Dept. of Economics 2017 M3 eng swe https://stud.epsilon.slu.se/12777/ |
| spellingShingle | elasticity hog supply econometrics time-series Bergsland, Ulrik An econometric estimation of the Swedish hog market : estimation of short and long run elasticites |
| title | An econometric estimation of the Swedish hog market : estimation of short and long run elasticites |
| title_full | An econometric estimation of the Swedish hog market : estimation of short and long run elasticites |
| title_fullStr | An econometric estimation of the Swedish hog market : estimation of short and long run elasticites |
| title_full_unstemmed | An econometric estimation of the Swedish hog market : estimation of short and long run elasticites |
| title_short | An econometric estimation of the Swedish hog market : estimation of short and long run elasticites |
| title_sort | econometric estimation of the swedish hog market : estimation of short and long run elasticites |
| topic | elasticity hog supply econometrics time-series |