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Developing a Supply and Demand Model of Hanwoo Using Beef Traceability Data

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  • Kim, Chunghyeon

Abstract

As Statistics Korea replaced the beef statistics with beef traceability data from September 2017, it is necessary to develop an economic model of Hanwoo based on the data. This study developed an advanced supply-demand model of Hanwoo by utilizing endogenous advantages of the data. The model was constructed by using a mixture of the cohort factor method and econometric method. We estimated cohort factors, such as mortality, slaughter, and sex ratio at birth, and attempted to build a stable model using the cohort factors. On the other hand, the econometric methods were used because the farm household’s intention to breed and slaughter as well as the intention of consumption are determined by various economic factors. The model developed in this study is expected to be useful as a tool to forecast the Hanwoo market and establish the preemptive supply and demand policies.

Suggested Citation

  • Kim, Chunghyeon, 2018. "Developing a Supply and Demand Model of Hanwoo Using Beef Traceability Data," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 41(3), September.
    • Handle: RePEc:ags:jordng:330745
    DOI: 10.22004/ag.econ.330745
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