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- Title
The Egg Cycle and the Ability of Recursive Models to Explain It.
- Authors
Hartman, David G.
- Abstract
The often-discussed instability of the price of eggs is examined by use of spectral analysis, and the existence of an egg cycle is confirmed. In explaining the cycle, the familiar cobweb model is shown to be inferior to an alternative model. The alternative model, proposed by Nerlove, has producers planning changes in their production levels in response to prices, with the changes being realized only after a lag. Economic justifications are given for such producer behavior to continue, even though it causes instability. Recent destabilizing influences, not related to the cycle, are also discussed.
- Subjects
EGG prices; EGG processing
- Publication
American Journal of Agricultural Economics, 1974, Vol 56, Issue 2, p254
- ISSN
0002-9092
- Publication type
Article
- DOI
10.2307/1238753