Price flexibility of world market for cocoa beans
The article is focused on the quantitative analysis of the price flexibility of the world market for the cocoa beans. The ICCO databases from 1960/1961 to 2005/2006 crop years were used for this analysis. In the investigated time period, the analysis of the price flexibility was based on the autoreg...
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| Format: | Article |
| Language: | English |
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Mendel University Press
2009-01-01
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| Series: | Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis |
| Subjects: | |
| Online Access: | https://acta.mendelu.cz/57/6/0267/ |
| _version_ | 1818142832265789440 |
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| author | Pavel Syrovátka |
| author_facet | Pavel Syrovátka |
| author_sort | Pavel Syrovátka |
| collection | DOAJ |
| description | The article is focused on the quantitative analysis of the price flexibility of the world market for the cocoa beans. The ICCO databases from 1960/1961 to 2005/2006 crop years were used for this analysis. In the investigated time period, the analysis of the price flexibility was based on the autoregressive form of the price model with the log-linear construction: lnpt = 2.6824 − 0.4041 × lnstgt + 0.8301 × lnpt−1 + ut. The values of the parameters of the autoregressive price model were estimated using OLS. The developed model was statistically significant in all evaluated respects (F-test, T-tests and Durbin’s h-test). Within the analysis of the world market for the cocoa beans, the current, dynamic, long-term and long-equilibrium coefficients of price flexibility were evaluated. According to applied log-linear construction of the autoregressive price model, the level of the current price flexibility of the world market for the cocoa beans was −0.4041, the dynamic price flexibility of the first order achieved the value of −0.3354 and the long-equilibrium price flexibility of the world market for the cocoa beans takes the value of −2.3784. |
| first_indexed | 2024-12-11T11:22:02Z |
| format | Article |
| id | doaj.art-5229eaa7551743689a5d8db40c2182ee |
| institution | Directory Open Access Journal |
| issn | 1211-8516 2464-8310 |
| language | English |
| last_indexed | 2024-12-11T11:22:02Z |
| publishDate | 2009-01-01 |
| publisher | Mendel University Press |
| record_format | Article |
| series | Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis |
| spelling | doaj.art-5229eaa7551743689a5d8db40c2182ee2022-12-22T01:09:08ZengMendel University PressActa Universitatis Agriculturae et Silviculturae Mendelianae Brunensis1211-85162464-83102009-01-0157626727410.11118/actaun200957060267Price flexibility of world market for cocoa beansPavel Syrovátka0Ústav regionální a podnikové ekonomiky, Mendelova zemědělská a lesnická univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republikaThe article is focused on the quantitative analysis of the price flexibility of the world market for the cocoa beans. The ICCO databases from 1960/1961 to 2005/2006 crop years were used for this analysis. In the investigated time period, the analysis of the price flexibility was based on the autoregressive form of the price model with the log-linear construction: lnpt = 2.6824 − 0.4041 × lnstgt + 0.8301 × lnpt−1 + ut. The values of the parameters of the autoregressive price model were estimated using OLS. The developed model was statistically significant in all evaluated respects (F-test, T-tests and Durbin’s h-test). Within the analysis of the world market for the cocoa beans, the current, dynamic, long-term and long-equilibrium coefficients of price flexibility were evaluated. According to applied log-linear construction of the autoregressive price model, the level of the current price flexibility of the world market for the cocoa beans was −0.4041, the dynamic price flexibility of the first order achieved the value of −0.3354 and the long-equilibrium price flexibility of the world market for the cocoa beans takes the value of −2.3784.https://acta.mendelu.cz/57/6/0267/world market for cocoa beansautoregressive price modelprice flexibility of cocoa marketcurrent price flexibilitydynamic price flexibilitylong-term price flexibility |
| spellingShingle | Pavel Syrovátka Price flexibility of world market for cocoa beans Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis world market for cocoa beans autoregressive price model price flexibility of cocoa market current price flexibility dynamic price flexibility long-term price flexibility |
| title | Price flexibility of world market for cocoa beans |
| title_full | Price flexibility of world market for cocoa beans |
| title_fullStr | Price flexibility of world market for cocoa beans |
| title_full_unstemmed | Price flexibility of world market for cocoa beans |
| title_short | Price flexibility of world market for cocoa beans |
| title_sort | price flexibility of world market for cocoa beans |
| topic | world market for cocoa beans autoregressive price model price flexibility of cocoa market current price flexibility dynamic price flexibility long-term price flexibility |
| url | https://acta.mendelu.cz/57/6/0267/ |
| work_keys_str_mv | AT pavelsyrovatka priceflexibilityofworldmarketforcocoabeans |