A short run econometric analysis of the international coffee market
AbstractThe authors develop a short-run econometric model for the world coffee market and give empirical evidence on the behavioral equations of the model for the major coffee importing and exporting countries. The behavioral relationships for producers, inventory holders, speculators, and consumers are derived from optimizing considerations in an uncertain environment. Spot and futures prices adjust to clear the spot and futures markets at each period. International trade flows of coffee are determined by the optimizing behavior of the agents (countries) in the model. The empirical evidence confirms the authors' hypothesis of a highly structured model which is consistent with profit maximizing behavior under uncertainty. Copyright 1986 by Oxford University Press.
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Bibliographic InfoPaper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0013.
Date of creation: 1986
Date of revision:
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Web page: http://www.feweb.vu.nl
Econometrische analyse; Internationale economie; Koffiehandel;
Other versions of this item:
- Palm, F C & Vogelvang, E, 1986. "A Short-run Econometric Analysis of the International Coffee Market," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 13(4), pages 451-76.
- Palm, F.C. & Vogelvang, E., 1986. "A short-run econometric analysis of the international coffee market," Open Access publications from Maastricht University urn:nbn:nl:ui:27-5998, Maastricht University.
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- Vogelvang, E., 1990. "Hypotheses testing concerning relationship between spot prices of various types of coffee," Serie Research Memoranda 0012, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Karp, Larry & Perloff, Jeffrey M, 1988. "Dynamic Oligopoly: Estimation and Tests of Market Structure," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7fk1119n, Department of Agricultural & Resource Economics, UC Berkeley.
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