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Elasticity Estimates of Farmed Salmon Demand in Spain and Italy


  • Bjorndal, Trond
  • Salvanes, Kjell G
  • Gordon, Daniel V


In this paper estimates of the elasticities that characterize the structure of demand for farmed salmon in Spain and Italy are reported. The demand models are specified using a Box-Cox transformation of the variables and a Hausman test is used to determine price endogeneity in the demand equations. The results show a short-run unitary own-price elasticity of demand for farmed salmon in both markets, but long-run estimates show significant elastic price response. Short-run substitution of salmon for other fish species is not observed and, for both Spain and Italy, farmed salmon is characterized as a luxury good. Interestingly, we show that our a priori expectations about own-price elasticities being lower in smaller market areas is confirmed. Finally, the results obtained are compared to other recent results reported in the salmon demand literature.

Suggested Citation

  • Bjorndal, Trond & Salvanes, Kjell G & Gordon, Daniel V, 1994. "Elasticity Estimates of Farmed Salmon Demand in Spain and Italy," Empirical Economics, Springer, vol. 19(3), pages 419-428.
  • Handle: RePEc:spr:empeco:v:19:y:1994:i:3:p:419-28

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    References listed on IDEAS

    1. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-673, September.
    2. Frédérick Demers, 2003. "The Canadian Phillips Curve and Regime Shifting," Staff Working Papers 03-32, Bank of Canada.
    3. Kichian, Maral, 1999. "Measuring Potential Output within a State-Space Framework," Staff Working Papers 99-9, Bank of Canada.
    4. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2006. "Projecting Productivity Growth: Lessons from the US Growth Resurgence," Chapters,in: The New Economy and Beyond, chapter 2 Edward Elgar Publishing.
    5. Oliner, Stephen D. & Sichel, Daniel E., 2003. "Information technology and productivity: where are we now and where are we going?," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 477-503, July.
    6. Jean-Philippe Cayen & Simon van Norden, 2002. "La fiabilité des estimations de l'écart de production au Canada," Staff Working Papers 02-10, Bank of Canada.
    7. Peter C.B. Phillips, 1998. "Econometric Analysis of Fisher's Equation," Cowles Foundation Discussion Papers 1180, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. Frank Asche & Helge Bremnes & Cathy R. Wessells, 1999. "Product Aggregation, Market Integration, and Relationships between Prices: An Application to World Salmon Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 568-581.
    2. Jinghua Xie & Dengjun Zhang, 2014. "Imperfect Competition and Structural Changes in the US Salmon Import Market," Marine Resource Economics, University of Chicago Press, vol. 29(4), pages 375-389.
    3. Wakamatsu, Hiroki & Miyata, Tsutomu, 2014. "Do Radioactive Spills from the Fukushima Disaster Have any Influence on Seafood Market in Japan?," MPRA Paper 55667, University Library of Munich, Germany, revised 18 Jun 2014.
    4. Hiroki Wakamatsu & Tsutomu Miyata, 2016. "Do Radioactive Spills from the Fukushima Disaster Have Any Influence on the Japanese Seafood Market?," Marine Resource Economics, University of Chicago Press, vol. 31(1), pages 27-45.
    5. Fofana, Abdulai & Clayton, Patty, 2003. "Demand Interaction Between Farmed Salmon And Wild Caught Fish In The United Kingdom," Miscellaneous Papers 11828, Agecon Search.

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