Supply response of U.K. milk producers

David Colman, Alexander Solomon, Len Gill

Research output: Contribution to journalArticlepeer-review

Abstract

Short-run own-price response elasticities are estimated from two samples of panel data for specialist dairy farms in the Northwest and Southwest of England. Although these farms are subject to milk marketing quotas, the free tradability of quotas enables them individually to adjust the output quite rapidly. Model specifications have been chosen to test the ability of panel data to directly reveal behavioral responses without the imposition of theoretical restrictions. Significantly, the two independent samples generate quite similar results, especially in terms of supply response measures. Stable and promising estimates are obtained with simultaneous models giving higher elasticities than single equation models.
Original languageEnglish
Pages (from-to)239-251
Number of pages12
JournalAgricultural Economics
Volume32
Issue number3
DOIs
Publication statusPublished - May 2005

Keywords

  • Milk
  • Panel data
  • Quotas
  • Supply response
  • U.K.

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