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Price and quantity adjustment in a dual character market: The case of the Greek poultry sector

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  • Alogoskoufis, George
  • Baltas, Nicholas

Abstract

In this paper we set up, estimate and test a short‐run model for the poultry sector in Greece. The model allows for the simultaneous existence of a monopolistically competitive and a competitive segment, and determines producer and consumer prices, and the quantity consumed. We provide evidence on steady‐state parameters such as demand and supply elasticities, as well as on speeds of adjustment of prices and quantities. The evidence suggests that adjustment is very rapid, although quantities appear to be adjusting more quickly than prices. The model is used to examine the dynamics of adjustment to demand and supply‐side disturbances.
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  • Alogoskoufis, George & Baltas, Nicholas, 1991. "Price and quantity adjustment in a dual character market: The case of the Greek poultry sector," Agricultural Economics, Blackwell, vol. 6(1), pages 79-89, October.
    • Handle: RePEc:eee:agecon:v:6:y:1991:i:1:p:79-89
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    Cited by:

    1. Anthony N. Rezitis & Konstantinos S. Stavropoulos, 2010. "Supply response and price volatility in the Greek broiler market," Agribusiness, John Wiley & Sons, Ltd., vol. 26(1), pages 25-48.
    2. Baltas, Nicholas C., 1999. "Private Investment and the Demand for Loanable Funds in the Greek Agricultural Sector," Journal of Policy Modeling, Elsevier, vol. 21(1), pages 67-88, January.

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