The pig cycle and stabilization scheme for the Thai pork sector
The pig cycle, which can be described in terms of price and production or demand and supply, arises from the interaction of prices, the level of pig production and the volume of pig slaughterings. The basic theory underlying the pig cycle analysis is the cobweb theorem. The modified models of it used in this analysis follow those of Hartman (1974), who applied the cobweb theorem to the egg cycle. Standard econometric techniques were used to analyse the demand and supply responses. The...[Show more]
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