Meat Demand in the US During and After the Great Recession
AbstractCombining depth, length and breadth, the Great Recession is the worst economic downturn that the US economy has suffered since the Great Depression. Among other things, the recession reduced household income, caused significant changes in food prices and increased consumer uncertainties. These changes can potentially affect demand for such important food products as meat. Barten’s generalized demand model is used to study the demand for meat products during and after the recession. Structural change is observed in the demand for meat products in all the markets considered. The instability in the demand for the meat products is not general, but rather isolated in a subset of some demand variables. Expenditure and own-price and cross-price elasticities of demand during the recession are estimated and compared to those after the recession.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 150146.
Date of creation: 2013
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Great Recession; Meat Demand; Barten’s Model; Structural Change; Consumer/Household Economics; Demand and Price Analysis; Livestock Production/Industries; Political Economy; Public Economics;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-24 (All new papers)
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