Response of Irish creamery milk supply to price changes

Michael P. Cuddy

European Review of Agricultural Economics, 1982, vol. 9, issue 2, 221-231

Abstract: Summary This article investigates the responsiveness of creamery milk supply to changes in the price of milk relative to agricultural materials. A basic model, which includes milk and livestock price variables and a Gini coefficient of cow concentration (a proxy for technological change) is modified to test pre- and post-EC response differences. The effects of the milk price variables are isolated using the method of principal components. Price responsiveness was higher in the post- than pre-EC period, largest responses being shown after a two to three year lag. The technology effect although positive was not significant.

Date: 1982
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European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo

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