Agricultural Economics, 2017 (vol. 63), issue 10
The Halloween effect on the agricultural commodities marketsOriginal Paper
Peter ARENDAS
Agric. Econ. - Czech, 2017, 63(10):441-448 | DOI: 10.17221/45/2016-AGRICECON 
The financial markets are impacted by various seasonal anomalies. One of the best known of them is the Halloween effect. The Halloween effect means that the summer period (May-October) asset returns are lower compared to the winter period (November-April) asset returns. In the paper, price series of 20 major agricultural commodities over the 1980-2015-time period are tested for the presence of the Halloween effect. The data show that 15 out of the 20 commodities recorded a higher average winter period than summer period returns and in 10 cases, the differences are statistically significant. The data also show that out of the 5 commodities with higher...
Beyond the mean: Estimating consumer demand systems in the tailsOriginal Paper
Marilena FURNO, Francesco CARACCIOLO
Agric. Econ. - Czech, 2017, 63(10):449-460 | DOI: 10.17221/70/2016-AGRICECON
The study proposes a novel approach to estimate price demand elasticities at the various levels of expenditures. Through the expectile estimator, the demand system can be estimated not only at the mean, as is generally done when implementing the OLS, but also at the lower and higher levels of expenditure. A simple demand system of equations focusing on five basic goods: Food, Recreation, Clothing, Transport, Rent, using the Canadian Family Expenditure Survey data was estimated. The comparison of the estimated elasticity of each commodity at the selected expectiles is tested to verify the statistical relevance of any difference among the estimates in...
Readiness of human resource departments of agricultural enterprises for implementation of the new roles of human resource professionalsOriginal Paper
Nadezda JANKELOVA, Zuzana JONIAKOVA, Jana BLSTAKOVA, Ildiko NEMETHOVA
Agric. Econ. - Czech, 2017, 63(10):461-470 | DOI: 10.17221/189/2016-AGRICECON
This paper is part of a broader study which aims to investigate the success factors of agricultural enterprises. It attempts to present the partial results of a questionnaire survey whose goal was to determine the quality of HRM (Human Resource Management) departments in basic agricultural enterprises. Studies focusing on the HRM of basic agricultural enterprises have been published in many countries. In the Slovak Republic, experts and academics from the Slovak University of Technology in Nitra, and the Slovak Research Institute of Agricultural and Food Economics have arrived at perceptive conclusions on the current state of human capital in the agri-food...
Impact of macroeconomic policies on national food security in Pakistan: simulation analyses under a simultaneous equations frameworkOriginal Paper
Muhammad AKBAR, Abdul JABBAR
Agric. Econ. - Czech, 2017, 63(10):471-488 | DOI: 10.17221/96/2016-AGRICECON
The UN's Vision 2050 regarding food security emphasizes a doubling of food production by 2050 to ensure sufficient food availability. It should also be considered that economic accessibility to food depends mainly on food prices in developing countries. Vision 2050 requires proper planning at the national level to ensure that targets are met in the coming years. This study was conducted to analyse the impact of macroeconomic policy decisions on domestic food production and food inflation in Pakistan. A simultaneous equations model, estimated using the generalized method of moments (GMM) with annual data from 1963-1964 to 2013-2014, was developed. Simulation...