Distribution Dynamics of Food Price Inflation Rates in EU: An Alternative Conditional Density Estimator Approach

Concepts and developments in the literature of economic growth and convergence have recently been adopted and used in the study of inflation rate convergence. This paper examines initially the existence of â-convergence, as mean reversion, of food price inflation rates in the European Union, using the stochastic convergence approach of panel data unit root tests. It examines also the existence of ó-convergence but in order capture sufficiently the evolving distributional dynamics, non-parametric econometric methods are implemented as well. An alternative conditional density estimator, proposed in the literature, is applied for this reason. This estimator is chosen as superior, not only to the restrictive discrete Markov chain approaches but also to the usual estimators of conditional densities using stochastic kernels. Monthly data on the EU harmonized consumer price indices of food and eleven specific food product subgroups are used, for the 15 older EU member states, covering the 1997-2009 period.Kernel density estimator, convergence, distribution dynamics, food price inflation

Supply of Money and Food Prices: A Time Series Analysis

Relationships between monetary variables and price indices continue always to be the subject of research interest and studies. This paper examines the relationship between money supply and retail food prices in Greece, using individual time series of monthly data for these variables. ADF unit root testing shows that both series are non stationary at their levels. However, the series are stationary at their first differences and further analysis shows that the two I(1) variables are cointegrated, having a stationary, proportional, long-run equilibrium relationship. Both, the Johansen and Engle-Granger procedures are implemented. Estimation of Vector Error Correction (VEC) models allows for the derivation of the cointegrating vector and relationship, and results seem to justify the argument of money neutrality with regards to food prices. VEC estimation makes feasible also, the calculation of the adjustment speed to the long-run equilibrium between the two variables considered.

The Impact Of Socio-Demographic Factors And Political Perceptions On Consumer Attitudes Towards Genetically Modified Foods: An Econometric Investigation

This survey-based paper investigates the impact of socio-demographic factors, along with political perceptions, as expressed by attitudes towards globalization, on consumer attitudes towards GM foods, in Greece. Different aspects of consumer attitudes regarding GM foods are examined, such as general preference, banning, labeling, intention to purchase them at a sufficiently low price, the nutritional category of food product and the proximity of the genetic modification to the final product. Econometric analysis using Logit and Probit models was conducted. Estimates clearly show that in general, attitudes towards GM foods are not affected by socio-demographic characteristics. However, political perceptions are a significant influential factor.Globalization, political, genetically modified food, econometric, Consumer/Household Economics, Food Consumption/Nutrition/Food Safety, D12, M31, R22,

A structural decomposition analysis of the pollution terms of trade

Acknowledgments The authors wish to thank an anonymous referee for useful comments and suggestions. The authors also thank Avanti Pinto and the participants of the 4th ENVECON Conference and the 2017 EAERE Annual Conference for their constructive comments and suggestions.Peer reviewedPostprin

A Comparison of Cost in Organic and Conventional Olive Oil Production in Greece

An economic analysis of conventional and organic olive oil cultivation was examined in one of the most important olive-growing regions in Greece. Based on structured interviews and open-ended questions of 60 farmers from both organic and conventional systems, this study aimed to clarify the cost and returns of organic olive oil cultivation in comparison with conventional farming. Olive oil cultivation cost was calculated as 2.60 € kg-1 in organic and 2.25 € kg-1 in conventional system. The selling price for organic olive production was 4.19 € kg-1 compared to 3.63 € kg-1 for conventional production. Net profit from organic olive oil cultivation was 7,043.43 € ha-1, which was 3,664.58 € ha-1 higher than the net profit from conventional cultivation. Finally, in both types of olive farming the results of financial analysis attested to a positive convenience; however, organic farming is more advantageous providing a financially competitive alternative to conventional

Neural network forecasts of input-output technology

A significant part of the literature on input-output (IO) analysis is dedicated to the development and application of methodologies forecasting and updating technology coefficients and multipliers. Prominent among such techniques is the RAS method, while more information demanding econometric methods, as well as other less promising ones, have been proposed. However, there has been little interest expressed in the use of more modern and often more innovative methods, such as neural networks in IO analysis in general. This study constructs, proposes and applies a Backpropagation Neural Network (BPN) with the purpose of forecasting IO technology coefficients and subsequently multipliers. The RAS method is also applied on the same set of UK IO tables, and the discussion of results of both methods is accompanied by a comparative analysis. The results show that the BPN offers a valid alternative way of IO technology forecasting and many forecasts were more accurate using this method. Overall, however, the RAS method outperformed the BPN but the difference is rather small to be systematic and there are further ways to improve the performance of the BPN.

Distribution Dynamics of Food Price Inflation Rates in EU: An Alternative Conditional Density Estimator Approach

This paper examines the existence of convergence and distribution dynamics of food price inflation rates within the European Union. Differences in such specific price index inflation rates and changes in their regional distributions reflect largely differences and developments in market conditions and structures. Traditional measures and approaches to β-convergence and σ-convergence, fail to capture sufficiently the evolving distributional dynamics. The latter includes possible mobility prospects within distributions and potential formation of clubs. To deal with these issues, the paper adopts developments in the literature of non parametric econometric methods and employs an alternative conditional density estimator as well. Implementation of this estimator is superior, not only to the restrictive discrete Markov chain approaches, but also to the usual estimation of conditional densities using stochastic kernels. The adopted estimator has smaller integrated mean square error than the conventional estimators. Panel data analysis of β-convergence is conducted too, using panel unit root tests. Data used are the harmonized consumer price indices of food and eleven specific food product groups for 15 European countries, older member states of the EU. Extracted evidence based on the estimates is presented, analyzed, and conclusions are discussed

TECHNICAL EFFICIENCY AND FARM SIZE: A NON-PARAMETRIC FRONTIER ANALYSIS

This study examines the argument that farm size is associated with technical efficiency. A non-parametric, frontier analysis method is used, together with some additional statistical analysis. Although some gains in efficiency appear as we move toward larger farms, they do not seem to be significantly large. The input/output ratios are indeed smaller for larger farms and the difference is statistically significant. It can be attributed however to the fact that smaller farms operate on a smaller scale and not inside the production frontier.Productivity Analysis,