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Panel Data Estimation Methods on Supply and Demand Elasticities: The Case of Cotton in Greece

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  • Kotakou, Christina A.

Abstract

This article examines the effects of the application of panel data estimation methods on a system of equations with unbalanced panel data. We apply pooled, random-effects, and fixed-effects estimation in three data sets: small, medium, and large farms to examine the relationship between farm size and the elasticity of cotton supply with respect to cotton price. Our results indicate that the adoption of various estimation methods entails different estimated parameters both in terms of their absolute value and in terms of their statistical significance. Additionally, the elasticity of cotton supply with respect to price varies according to farm size.

Suggested Citation

  • Kotakou, Christina A., 2011. "Panel Data Estimation Methods on Supply and Demand Elasticities: The Case of Cotton in Greece," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(1), pages 1-19, February.
    • Handle: RePEc:ags:joaaec:100637
    DOI: 10.22004/ag.econ.100637
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    1. Teresa Serra & David Zilberman & Barry K. Goodwin & Keijo Hyvonen, 2005. "Replacement of Agricultural Price Supports by Area Payments in the European Union and the Effects on Pesticide Use," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(4), pages 870-884.
    2. Biorn, Erik, 2004. "Regression systems for unbalanced panel data: a stepwise maximum likelihood procedure," Journal of Econometrics, Elsevier, vol. 122(2), pages 281-291, October.
    3. El-Osta, Hisham S. & Mishra, Ashok K., 2005. "Dimensions of Wealth Dispersion Among Farm Operator Households: An Assessment of the Impact of Farm Subsidies," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 37(1), pages 187-208, April.
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    Cited by:

    1. Doole, Graeme J. & Romera, Alvaro J. & Leslie, Jennifer E. & Chapman, David F. & Pinxterhuis, Ina (J.B.). & Kemp, Peter D., 2021. "Economic assessment of plantain (Plantago lanceolata) uptake in the New Zealand dairy sector," Agricultural Systems, Elsevier, vol. 187(C).
    2. Peremans, Kris & Van Aelst, Stefan, 2018. "Robust inference for seemingly unrelated regression models," Journal of Multivariate Analysis, Elsevier, vol. 167(C), pages 212-224.
    3. Pierre Dupraz & Chalachew Temesgen Jemberie, 2012. "Farmland rental rate and marginal return to land: A french FADN perspective," Post-Print hal-01208927, HAL.

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    Demand and Price Analysis;

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