Functional Form Specification In The Quarterly Demand For Red Meats In Canada
AbstractMost demand studies, particularly those for food products, choose somewhat arbitrarily either a linear or a log-linear functional form. Since choice of functional form has implications for elasticities and their properties over time, either form may be considered restrictive. An empirical test of functional form in the short-run (quarterly) demand for four red meats is presented in this paper. For beef demand, neither a linear nor a log-linear form is appropriate. Similarly for pork and lamb demand, a linear functional form is not appropriate, but the log-linear one is. For veal demand, although data supported both function forms, a linear form is preferred when seasonal influences are accounted for.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 04 (1979)
Issue (Month): 02 (December)
Demand and Price Analysis; Livestock Production/Industries;
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