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An econometric study of the beef meat sector in Cyprus

Author

Listed:
  • Panayiotis Diacos

    (School of Business, Intercollege)

  • Spyros Hadjidakis

    (School of Business, Intercollege)

Abstract

We present an econometric study in which we model the beef market in Cyprus. The parameters of the relevant dynamic equations are estimated using the Full Information Maximum Likelihood method. Our estimates are found highly significant and with plausible values. We then use these estimates to study the dynamic implications of the model. In an example we assume a given change in real wages consider in detail how the model converges towards its long run equilibrium. We also use the estimates to derive various forecasts on the endogenous variables.

Suggested Citation

  • Panayiotis Diacos & Spyros Hadjidakis, 2005. "An econometric study of the beef meat sector in Cyprus," Ekonomia, Cyprus Economic Society and University of Cyprus, vol. 8(2), pages 210-240, Winter.
    • Handle: RePEc:ekn:ekonom:v:8:y:2005:i:2:p:210-240
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    More about this item

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

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