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Price Elasticity Of Supply Of Bottled Quality White Wine In The Czech Republic

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  • SYROVÁTKA, Pavel
  • ŽUFAN, Pavel

Abstract

This paper is focused on the supply of the Czech producers of bottled quality white wine. Namely, a dependence of their sales of this wine category on the market price of bottled quality white wine was examined. Monthly data from the CZSO and SZIF database, years 2004–2012, were used for the price-supply analysis. Price-supply reactions of the Czech wine producers were investigated through two-stage cointegration method developed by Engle and Granger. Short-term and long-term price elasticity of studied market supply was based on the error correction model designed and statistically verified by the authors.

Suggested Citation

  • SYROVÁTKA, Pavel & ŽUFAN, Pavel, 2014. "Price Elasticity Of Supply Of Bottled Quality White Wine In The Czech Republic," Review of Agricultural and Applied Economics (RAAE), Faculty of Economics and Management, Slovak Agricultural University in Nitra, vol. 17(2), pages 1-6, October.
    • Handle: RePEc:ags:roaaec:196634
    DOI: 10.22004/ag.econ.196634
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    References listed on IDEAS

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    1. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    2. Engle, R. F. & Granger, C. W. J. (ed.), 1991. "Long-Run Economic Relationships: Readings in Cointegration," OUP Catalogue, Oxford University Press, number 9780198283393.
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    Cited by:

    1. Pavel TOMSIK & Hana STOJANOVA & Jiri SEDLO & Ida VAJCNEROVA, 2016. "Factors of profitability of the grapes production," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 62(6), pages 292-297.

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    Demand and Price Analysis;

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