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Dynamics and Long-run Structure in U.S. Meat Demand

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Empirical analysis, based on a general dynamic Almost Ideal Demand System, shows the commonly used autoregressive and partial adjustment processes are restrictive to meat demand data. This study derives a linear specification in levels form to investigate dynamics in a general framework. Merging a long-run steady state structure with short-run dynamics results in consistent and robust long-run demand elasticities. Journal article in Canadian Journal of Agricultural Economics 41 (1993), 139-153.

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Paper provided by Center for Agricultural and Rural Development (CARD) at Iowa State University in its series Center for Agricultural and Rural Development (CARD) Publications with number 88-wp38.

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Date of creation: Apr 1988
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Handle: RePEc:ias:cpaper:88-wp38

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  1. Berndt, Ernst R & Savin, N Eugene, 1975. "Estimation and Hypothesis Testing in Singular Equation Systems with Autoregressive Disturbances," Econometrica, Econometric Society, Econometric Society, vol. 43(5-6), pages 937-57, Sept.-Nov.
  2. Banerjee, Anindya & Galbraith, John W & Dolado, Juan, 1990. "Dynamic Specification and Linear Transformations of the Autoregressive-Distributed Lag Model," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, Department of Economics, University of Oxford, vol. 52(1), pages 95-104, February.
  3. Bewley, R. & Fiebig, D.G., 1989. "Why Are Long-Run Parameter Estimates So Disparate?," Papers, New South Wales - School of Economics 89-3, New South Wales - School of Economics.
  4. Anderson, G J & Blundell, R W, 1982. "Estimation and Hypothesis Testing in Dynamic Singular Equation Systems," Econometrica, Econometric Society, Econometric Society, vol. 50(6), pages 1559-71, November.
  5. Nickell, Stephen, 1985. "Error Correction, Partial Adjustment and All That: An Expository Note," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, Department of Economics, University of Oxford, vol. 47(2), pages 119-29, May.
  6. Anderson, Gordon & Blundell, Richard, 1983. "Testing Restrictions in a Flexible Dynamic Demand System: An Application to Consumers' Expenditure in Canada," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 50(3), pages 397-410, July.
  7. Blundell, Richard, 1988. "Consumer Behaviour: Theory and Empirical Evidence--a Survey," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 98(389), pages 16-65, March.
  8. Alston, Julian M & Foster, Kenneth A & Green, Richard D, 1994. "Estimating Elasticities with the Linear Approximate Almost Ideal Demand System: Some Monte Carlo Results," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 351-56, May.
  9. LaFrance, Jeffrey T., 1991. "When Is Expenditure "Exogenous" In Separable Demand Models?," Western Journal of Agricultural Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 16(01), July.
  10. HENRY, David F. & RICHARD, Jean-François, . "On the formulation of empirical models in dynamic econometrics," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -502, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Moschini, GianCarlo & Meilke, Karl D., 1989. "Modeling the Pattern of Structural Change in U.S. Meat Demand," Staff General Research Papers, Iowa State University, Department of Economics 11266, Iowa State University, Department of Economics.
  12. Bewley, R. A., 1979. "The direct estimation of the equilibrium response in a linear dynamic model," Economics Letters, Elsevier, Elsevier, vol. 3(4), pages 357-361.
  13. Hendry, David F. & Pagan, Adrian R. & Sargan, J.Denis, 1984. "Dynamic specification," Handbook of Econometrics, Elsevier, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 18, pages 1023-1100 Elsevier.
  14. Breusch, Trevor S & Wickens, Michael R, 1987. "Dynamic Specification, the Long Run and the Estimation of Transformed Regression Models," CEPR Discussion Papers, C.E.P.R. Discussion Papers 154, C.E.P.R. Discussion Papers.
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Cited by:
  1. Boonsaeng, Tullaya & Wohlgenant, Michael K., 2006. "Testing Separability between Import and Domestic Commodities: Application to U.S. Meat Demand in a Dynamic Model," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida, Southern Agricultural Economics Association 35267, Southern Agricultural Economics Association.
  2. Christopoulos, Dimitris K., 2000. "The demand for energy in Greek manufacturing," Energy Economics, Elsevier, Elsevier, vol. 22(5), pages 569-586, October.
  3. Jones, Keithly G. & Hahn, William F. & Davis, Christopher G., 2003. "Demand for U.S. Lamb and Mutton: A Two Stage Differential Approach," 2003 Annual meeting, July 27-30, Montreal, Canada, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 22122, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. Jones, Keithly G. & Harvey, David J., 2006. "Evaluating the Economic Impact of Countervailing Duties on United States Warm Water Shrimp Imports," 2006 Annual meeting, July 23-26, Long Beach, CA, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 21118, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Okrent, Abigail M. & MacEwan, Joanna P., 0. "The Effects of Prices, Advertising, Expenditures, and Demographics on Demand for Nonalcoholic Beverages," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, Northeastern Agricultural and Resource Economics Association.
  6. Dhehibi, B. & Gil, J. M., 2003. "Forecasting food demand in Tunisia under alternative pricing policies," Food Policy, Elsevier, Elsevier, vol. 28(2), pages 167-186, April.
  7. Eales, James S. & Hyde, Jeffrey & Schrader, Lee F., 1998. "A Note On Dealing With Poultry In Demand Analysis," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 23(02), December.
  8. Okrent, Abigail M. & MacEwan, Joanna P., 2014. "The Effects of Prices, Advertising, Expenditures, and Demographics on Demand for Nonalcoholic Beverages," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, Northeastern Agricultural and Resource Economics Association, vol. 43(1), April.
  9. Mazzocchi, Mario & Stefani, Gianluca, 2002. "Consumer Welfare and the Loss Induced by Withheld Information: The Case of BSE in Italy," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain, European Association of Agricultural Economists 24927, European Association of Agricultural Economists.
  10. Smed, Sinne & Jensen, Jorgen Dejgaard & Denver, Sigrid, 2005. "Differentiated Food Taxes as a Tool in Health and Nutrition Policy," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark, European Association of Agricultural Economists 24579, European Association of Agricultural Economists.

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