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Price Determination and Dynamic Adjustments: An Inverse Demand System Approach to Meat Products in the United States

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  • Kesavan, T
  • Buhr, Brian

Abstract

In this study the process of retail meat price determination is depicted in the form of an inverse demand system taking into consideration the dynamic adjustments present in monthly consumption data. The general dynamic framework identifies both long-run and short-run effects in a systematic manner and allows direct estimation of the long-run price and scale flexibilities that are consistent with theory. The empirical application based on monthly U.S. meat products data provides reasonable and promising results.

Suggested Citation

  • Kesavan, T & Buhr, Brian, 1995. "Price Determination and Dynamic Adjustments: An Inverse Demand System Approach to Meat Products in the United States," Empirical Economics, Springer, vol. 20(4), pages 681-698.
    • Handle: RePEc:spr:empeco:v:20:y:1995:i:4:p:681-98
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    Cited by:

    1. Ji, Wen, 2000. "Changing Seasonal Patterns In The Poultry Market," 2000 Annual meeting, July 30-August 2, Tampa, FL 21860, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Panos Fousekis & Brian J. Revell, 2002. "Primary Demand for Red Meats in the United Kingdom," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 63, pages 31-50.
    3. Fousekis, Panos & Revell, Brian J., 2000. "Meat Demand in the UK: A Differential Approach," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 32(1), pages 11-19, April.
    4. Sooriyakumar Krishnapillai, 2012. "Impact of NAFTA on the Preference for Meat Consumption in USA: An Inverse Demand System Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 2(1), pages 79-84.
    5. Peguero, Felipe & Kennedy, P. Lynn & Zapata, Hector O., 2018. "A Generalized Dynamic Inverse AIDS Model for Fresh Fruits and Vegetables: An Application to the U.S. Bell Pepper Industry," 2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida 266686, Southern Agricultural Economics Association.
    6. Karagiannis, G. & Katranidis, S. & Velentzas, K., 2000. "An error correction almost ideal demand system for meat in Greece," Agricultural Economics, Blackwell, vol. 22(1), pages 29-35, January.
    7. H. Holly Wang & Paul Gardner de Beville, 2017. "The media impact of animal disease on the US meat demand," Agribusiness, John Wiley & Sons, Ltd., vol. 33(4), pages 493-504, September.
    8. Toshinobu Matsuda, 2007. "Linearizing the inverse quadratic almost ideal demand system," Applied Economics, Taylor & Francis Journals, vol. 39(3), pages 381-396.
    9. Sven Anders & Anke Mőser, 2010. "Consumer Choice and Health: The Importance of Health Attributes for Retail Meat Demand in Canada," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 58(2), pages 249-271, June.
    10. Antonovitz, Frances & Buhr, Brian L. & Liu, Donald J., 1996. "Vertical Integration Incentives In Meat Product Markets," Staff Papers 13989, University of Minnesota, Department of Applied Economics.
    11. K. K. Gary Wong & Hoanjae Park, 2018. "Consumption dynamics in inverse demand systems: an application to meat and fish demand in Korea," Agricultural Economics, International Association of Agricultural Economists, vol. 49(6), pages 777-786, November.
    12. Anders, Sven M. & Moeser, Anke, 2008. "Using Retail Scanner Data to Assess the Demand for Value-based Ground Meat Products in Canada," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44154, European Association of Agricultural Economists.

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