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Testing alternative dynamic specifications: an application to meat demand in Belgium

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  • Ludo Peeters
  • Yves Surry
  • Anja Cielen

Abstract

This letter examines alternative specifications of dynamic adjustment in the context of a linear approximate AIDS model of the demand for meat in Belgium. The model also incorporates demographic variables to account for structural changes in consumer preferences. Using a general first-order ECM specification as a unifying analytical framework, several tests are performed in an attempt to validate the preferred dynamic model specification. The results indicate that the widely-used dynamic model with one adjustment parameter (diagonal adjustment matrix) as well as the autoregressive and static models are strongly rejected by the data. The proposed symmetric specification of dynamic adjustment presents a viable alternative.

Suggested Citation

  • Ludo Peeters & Yves Surry & Anja Cielen, 1997. "Testing alternative dynamic specifications: an application to meat demand in Belgium," Applied Economics Letters, Taylor & Francis Journals, vol. 4(12), pages 745-749.
    • Handle: RePEc:taf:apeclt:v:4:y:1997:i:12:p:745-749
    DOI: 10.1080/758528720
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    References listed on IDEAS

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    1. Barten, A.P., 1992. "The estimation of mixed demand systems," Other publications TiSEM 182f4296-e95b-4dea-aa8b-d, Tilburg University, School of Economics and Management.
    2. Anton P. Barten, 1992. "The Estimation of Mixed Demand Systems," Palgrave Macmillan Books, in: Ronald Bewley & Tran Hoa (ed.), Contributions to Consumer Demand and Econometrics, chapter 3, pages 31-57, Palgrave Macmillan.
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    Cited by:

    1. Verbeke, Wim & Ward, Ronald W., 2001. "A fresh meat almost ideal demand system incorporating negative TV press and advertising impact," Agricultural Economics, Blackwell, vol. 25(2-3), pages 359-374, September.

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