Tothmihaly, Andras - 2017
or demand. Therefore, we test the hypothesis that the price elasticities of the global cocoa supply and demand are low …. We describe the global cocoa market with cointegration dynamic supply, demand and price submodels. Our OLS, 2SLS, and SUR … demand also falls into the extremely inelastic range: the short- and long-run estimates are -0.06 and -0.34. Based on these …