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Parameter Stability And The U.S. Demand For Beef

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  • Moschini, GianCarlo
  • Meilke, Karl D.

Abstract

The main objective of this paper is to test the hypothesis that consumer preferences for beef in the United States have been affected by structural change, which reduces to testing for parameter stability in estimated demand equations. To this end, alternative specifications of the demand function are estimated using a general form of the Box-Cox transformation. Tests based on recursive residuals and on the F distribution provide little evidence of structural change, and suggest that the recent decline in beef consumption may be explained by changes in relative prices.

Suggested Citation

  • Moschini, GianCarlo & Meilke, Karl D., 1984. "Parameter Stability And The U.S. Demand For Beef," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(2), pages 1-12, December.
    • Handle: RePEc:ags:wjagec:32143
    DOI: 10.22004/ag.econ.32143
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    References listed on IDEAS

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    1. Dufour, J.M., 1981. "Recursive Stability Analysis of Linear Regression Relationships," Cahiers de recherche 8129, Universite de Montreal, Departement de sciences economiques.
    2. Blaylock, James R. & Smallwood, David M., 1983. "Box-Cox Transformations And Error Term Specification In Demand Models," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(01), pages 1-8, July.
    3. Jean-Paul Chavas, 1983. "Structural Change in the Demand for Meat," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 148-153.
    4. Chang, Hui-shyong, 1977. "Functional Forms and the Demand for Meat in the United States," The Review of Economics and Statistics, MIT Press, vol. 59(3), pages 355-359, August.
    5. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, November.
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