engleski

Econometric modelling approaches in studies of the EU dairy sector

The model is a representation of the genuine situation and contains the most important factor relations, which makes modelling a sophisticated way of analyzing and solving the real case study problems. The models steam from the theory and are derived on the basis of given assumptions. In this paper we have treated two themes: Estimating Econometric model of average total cost milk and, modelling and analyzing the European milk and dairy market. The first part is a review of the support vector machine regression application to estimate the parameters of econometric models of the average total cost of milk on Estonian farms. The second part describes a decline in dairy commodity prices over the period from 2008 and 2009. However, the medium- term trend of prices is maintained at a level above those in the earlier part of this decade. Production in the EU is almost unchanged due to the milk quota which is revealed by AGMEMOD model.

Agmemod model; Dairy; Econometric models; Milk and Price.

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