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Complete Flexibility Systems And The Stationarity Of U.S. Meat Demands

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  • Dahlgran, Roger A.
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    Abstract

    A Rotterdam demand model is used to detect evidence of structural change in beef, pork, and chicken demands. The demand model is partially inverted prior to estimation to account for meat supply fixity. Estimation uses a likelihood maximization routine applied to 1950 through 1985 annual data. The results suggest severe disruption in the meat markets in the 1970s. A comparison of the 1980s and the 1960s elasticity structures reveals that income and cross-price elasticities are nearly the same but direct price elasticities are lower and are trending toward even more inelasticity. Implications for pricing and risk management are discussed.

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    File URL: http://purl.umn.edu/32223
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    Bibliographic Info

    Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

    Volume (Year): 12 (1987)
    Issue (Month): 02 (December)
    Pages:

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    Handle: RePEc:ags:wjagec:32223

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    Web page: http://waeaonline.org/
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    Related research

    Keywords: Demand and Price Analysis; Livestock Production/Industries;

    References

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    1. Haidacher, Richard C., 1983. "Assessing Structural Change In The Demand For Food Commodities," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 15(01), July.
    2. Moschini, GianCarlo & Meilke, Karl D., 1984. "Parameter Stability and the U.S. Demand for Beef," Staff General Research Papers 11272, Iowa State University, Department of Economics.
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    Cited by:
    1. Roger A. Dahlgran & Dean G. Fairchild, 2002. "The demand impacts of chicken contamination publicity-a case study," Agribusiness, John Wiley & Sons, Ltd., vol. 18(4), pages 459-474.
    2. Holt, Matthew T. & Balagtas, Joseph V., 2009. "Estimating Structural Change with Smooth Transition Regressions: an Application to Meat Demand," MPRA Paper 15331, University Library of Munich, Germany.
    3. Hsu, Jane Lu, 2000. "Gradual Switching Structural Changes of Meat Consumption in Taiwan," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 123663, Australian Agricultural and Resource Economics Society.
    4. Richards, Timothy J. & Kagan, Albert & Gao, Xiaoming, 1997. "Factors Influencing Changes In Potato And Potato Substitute Demand," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 26(1), April.
    5. X. M. Gao & Timothy Richards & Albert Kagan, 1997. "A latent variable model of consumer taste determination and taste change for complex carbohydrates," Applied Economics, Taylor & Francis Journals, vol. 29(12), pages 1643-1654.
    6. Asche, Frank & Zhang, Dengjun, 2013. "Testing Structural Changes in the U.S. Whitefish Import Market: An Inverse Demand System Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(3), December.

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