KEYWORDS:Czech wine market, market supply, quality white wine, price-supply cointegration, error correction model, price-supply elasticity
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.
Please Cite this Article as:
Pavel SYROVÁTKA, Pavel ŽUFAN (2014) Price Elasticity Of Supply Of Bottled Quality White Wine In The Czech Republic. Review of Agricultural and Applied Economics. XVII (Number 2, 2014): 32-37. doi: 10.15414/raae.2014.17.02.32-37
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