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Meat Demand in the US During and After the Great Recession

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  • Darko, Francis Addeah
  • Eales, James S.
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    Abstract

    Combining 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 Info

    Paper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 150146.

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    Date of creation: 2013
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    Handle: RePEc:ags:aaea13:150146

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    Related research

    Keywords: Great Recession; Meat Demand; Barten’s Model; Structural Change; Consumer/Household Economics; Demand and Price Analysis; Livestock Production/Industries; Political Economy; Public Economics;

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    1. Matthew T. Holt & Joseph V. Balagtas, 2009. "Estimating Structural Change with Smooth Transition Regressions: An Application to Meat Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1424-1431.
    2. Moschini, GianCarlo & Meilke, Karl D., 1989. "Modeling the Pattern of Structural Change in U.S. Meat Demand," Staff General Research Papers 11266, Iowa State University, Department of Economics.
    3. Michael Hurd & Susann Rohwedder, 2010. "Effects of the Financial Crisis and Great Recession on American Households," Working Papers 810, RAND Corporation Publications Department.
    4. John D. Jackson, 1997. "Effects of Health Information and Generic Advertising on U.S. Meat Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 13-23.
    5. Tonsor, Glynn T. & Mintert, James R. & Schroeder, Ted C., 2010. "U.S. Meat Demand: Household Dynamics and Media Information Impacts," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 35(1), April.
    6. Nicholas E. Piggott & Thomas L. Marsh, 2004. "Does Food Safety Information Impact U.S. Meat Demand?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 154-174.
    7. X. M. Gao & Thomas Spreen, 1994. "A Microeconometric Analysis of the U.S. Meat Demand," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 42(3), pages 397-412, November.
    8. Olowolayemo, Surajudeen O. & Martin, Neil R., Jr. & Raymond, Jennie E., 1993. "The Demand For Meat Products In The United States: An Empirical Analysis," Journal of Food Distribution Research, Food Distribution Research Society, vol. 24(2), September.
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