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Partial equilibrium model - Case study of the poultry market

Author

Listed:
  • Lenka Šobrová

    (Katedra ekonomiky, Provozně ekonomická fakulta, Česká zemědělská univerzita v Praze, Kamýcká 129, 165 21 Praha 6, Česká republika)

  • M. Malý

    (Katedra ekonomiky, Provozně ekonomická fakulta, Česká zemědělská univerzita v Praze, Kamýcká 129, 165 21 Praha 6, Česká republika)

  • Z. Malá

    (Katedra ekonomiky, Provozně ekonomická fakulta, Česká zemědělská univerzita v Praze, Kamýcká 129, 165 21 Praha 6, Česká republika)

Abstract

This paper deals with identifying the main determinants in the poultry agri-food chain in the Czech Republic and examines their relationships. The partial equilibrium model, defined as a seven-equation model in power form, is employed for this purpose. The analysis is based on both time-series and panel data of the main factors in the poultry market. The time-series as well as panel data contain annual data of selected variables for the period from 1995 to 2009. The analysis is focused on supply and demand of poultry meat, specifically on production, consumption and foreign trade in poultry meat in the Czech Republic. Firstly, the main factors influencing the poultry market are determined, then, an appropriate model is employed. The parameters of the model are estimated using the ordinary least squares method in statistical and econometric software. Estimated parameters confirm assumed relationships among the selected variables. Moreover, the long-term tendencies of the selected indicators are proven. Among other, the analysis proves an inertial consumption, the price level as the main factor influencing the consumption and one-way or mutual relationship among the selected variables. The statistical features of the model are satisfied as well - the estimated parameters are statistically significant, the model does not contain, neither the problem of autocorrelation of residuals nor the problem of heteroskedasticity.

Suggested Citation

  • Lenka Šobrová & M. Malý & Z. Malá, 2011. "Partial equilibrium model - Case study of the poultry market," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 59(7), pages 431-438.
    • Handle: RePEc:mup:actaun:actaun_2011059070431
    DOI: 10.11118/actaun201159070431
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    References listed on IDEAS

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    1. Maier, Tomas & Pankova, Ludmila, 2010. "Sectoral Production Function of Chicken Broiler Fattening," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 2(4), pages 1-6, December.
    2. Janda, Karel, 2010. "Vertical integration in the Czech agriculture – focus on dairy and meat sectors," MPRA Paper 27408, University Library of Munich, Germany.
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