Faculty of Economics and Management of the Slovak Agricultural University in Nitra and the Association of Agricultural Economists in Slovakia
Review of Agricultural and Applied Economics
1336-9261
2
PRICE ELASTICITY OF SUPPLY OF BOTTLED QUALITY WHITE WINE IN THE CZECH REPUBLIC
32
37
Full Text URL
Pavel ŽUFAN
Pavel SYROVÁTKA
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.
Czech wine market
market supply
quality white wine
price-supply cointegration
error correction model
price-supply elasticity