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SALES AND RETAIL PRICE PATTERNS ON THE MARKET FOR MILK PRODUCTS (Arleszallitasok es a kiskereskedelmi arak valtozaa a tejtermekek piacan)

100%
Ferto I., Bakucs L. Z.
Kozgazdasagi Szemle (Economic Review)
|
2009
|
vol. 56
|
issue 7/8
634-647
EN
The article examines retail price variation in Hungary across a range of milk products. The results show the majority of products have regular prices and most of the deviations from them are in an upward direction. Significant differences of price distribution are found between products. Bargain sales are infrequent for most products and their role in annual price variation limited. The results do not confirm that durable goods should display a qualitatively different pricing pattern than less durable goods. Although existing models of retail sales yield predictions consistent with some aspects of the retail pricing distributions, all of these models fail to explain other important aspects of retail pricing that are identified here.
2

Is Gibrat's law valid for Hungarian agriculture?

100%
Bakucs L. Z., Ferto I.
Kozgazdasagi Szemle (Economic Review)
|
2008
|
vol. 55
|
issue 1
25-38
EN
The paper examines the validity of Gibrat's law - the Law of Proportionate Effects - to Hungarian agriculture. Using a battery of specifications (OLS, FGLS, WLS, two-step Heckmann selection models, and quintile regression) and four size measures (labour, land, capital and total return), the results strongly reject Gibrat's Law for the full sample. Thus they suggest smaller farms grow faster than large. Chow-type tests reject the null of structural break between the evolution of family and corporate farms, suggesting a common growth path.
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