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An Econometric Model Of The Market For New England Groundfish

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  • Crutchfield, Stephen R.

Abstract

This paper develops an economic model of the New England groundfish market. A multi-sector, multi-level econometric model is estimated using data from 1970 to 1982. The parameters of the estimated model are used to characterize consumer demand for groundfish and related products. Retail and exvessel demands for fresh and frozen groundfish fillets are found to be highly elastic. Fresh fillets especially show high income elasticity of demand, reflecting their status as a luxury good. Only a very small and statistically weak relationship was found between the prices of imported groundfish and domestic exvessel prices indicating that proposals to assist the domestic industry via tariffs may be ineffectual.

Suggested Citation

  • Crutchfield, Stephen R., 1985. "An Econometric Model Of The Market For New England Groundfish," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(2), pages 1-16, October.
    • Handle: RePEc:ags:nejare:28946
    DOI: 10.22004/ag.econ.28946
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    References listed on IDEAS

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    3. Hicks, J. R., 1986. "A Revision of Demand Theory," OUP Catalogue, Oxford University Press, number 9780198285502.
    4. Bockstael, Nancy E. & Opaluch, James J., 1983. "Discrete modelling of supply response under uncertainty: The case of the fishery," Journal of Environmental Economics and Management, Elsevier, vol. 10(2), pages 125-137, June.
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