Forecasting the Consumption of Milk and Dairy Products in Greece

A. Xepapadeas and H. Habib
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A. Xepapadeas: University of Crete, Department of Economics
H. Habib: Mediterranean Agronomic Institute of Chania

A chapter in Advances in Stochastic Modelling and Data Analysis, 1995, pp 217-243 from Springer

Abstract: Abstract The present study uses a demand system approach, an Almost Ideal Demand System (AIDS) with correction for serial correlation for milk, cheese and butter in Greece for the period 1960–1991. The AIDS model can be used to test homogeneity and symmetry restrictions through linear restrictions on fixed parameters. This study forecasts the consumption per capita of each product until 1966 using the Box-Jenkins method. Box Jenkins forecasts are compared to moving average and exponential smoothing methods using the minimum root mean square error criterion.

Keywords: Milk; Cheese; Butter; Milk Products; Greece; Demand Functions; Forecasting Models; Econometrics Models; Consumption. (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-94-017-0663-6_15

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DOI: 10.1007/978-94-017-0663-6_15

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