The price elasticity of milk production in the EEC and the problem of discriminating between model estimates.

Authors

  • P.C. van den Noort

DOI:

https://doi.org/10.18174/njas.v30i3.16981

Abstract

Estimates of the price elasticity of milk supply in the EEC were obtained by getting an expert from each country to give a subjective judgement after comparison of the widely varying results obtained with different types of models. Weighted averages based on the expert judgements suggested that a 1% change in milk prices changes EEC milk output by 0.5-0.6% in the short term and 1.3% in the long term. Elasticity estimates for each country are tabulated, and the need for objective methods of discriminating between models and estimates is highlighted. (Abstract retrieved from CAB Abstracts by CABI’s permission)

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Published

1982-08-01

Issue

Vol. 30 No. 3 (1982)

Section

Papers

License

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