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Beer and the business cycle

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  • Donald Freeman

Abstract

The beer industry has traditionally been viewed as 'recession-proof': drinkers will have their beer notwithstanding the ecomomy's ups and downs. Few empirical studies have examined the veracity of the claim of beer's non-cyclicality and none have used monthly data. This paper uses an error-correction specification to test the sensitivity o mfonthly beer consumption to cyclical macro-economic variables over the period January 1955-December 1994. Strong support was found for the traditional view: beer is mostly immune to economic cycles.

Suggested Citation

  • Donald Freeman, 2001. "Beer and the business cycle," Applied Economics Letters, Taylor & Francis Journals, vol. 8(1), pages 51-54.
  • Handle: RePEc:taf:apeclt:v:8:y:2001:i:1:p:51-54
    DOI: 10.1080/135048501750041295
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    References listed on IDEAS

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    1. Kenneth Clements & Wana Yang & Simon Zheng, 1997. "Is utility additive? The case of alcohol," Applied Economics, Taylor & Francis Journals, vol. 29(9), pages 1163-1167.
    2. Gregory, Allan W, 1994. "Testing for Cointegration in Linear Quadratic Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(3), pages 347-360, July.
    3. Ruhm, Christopher J., 1995. "Economic conditions and alcohol problems," Journal of Health Economics, Elsevier, vol. 14(5), pages 583-603, December.
    4. David Blake & Angelika Nied, 1997. "The demand for alcohol in the United Kingdom," Applied Economics, Taylor & Francis Journals, vol. 29(12), pages 1655-1672.
    5. Nelson, Jon P, 1997. "Economic and Demographic Factors in U.S. Alcohol Demand: A Growth-Accounting Analysis," Empirical Economics, Springer, vol. 22(1), pages 83-102.
    6. Engle, Robert F, 1982. "Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation," Econometrica, Econometric Society, vol. 50(4), pages 987-1007, July.
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    Cited by:

    1. Tomson Ogwang & Danny Cho, 2009. "Economic determinants of the consumption of alcoholic beverages in Canada: a panel data analysis," Empirical Economics, Springer, vol. 37(3), pages 599-613, December.
    2. repec:bla:ecinqu:v:57:y:2019:i:1:p:584-599 is not listed on IDEAS
    3. K. A. Al Mamun & H. K. Nath, 2005. "Export-led growth in Bangladesh: a time series analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 12(6), pages 361-364.
    4. Toro-Gonzalez, Daniel & McCluskey, Jill J. & Mittelhammer, Ron, 2014. "Beer Snobs Do Exist: Estimation of Beer Demand by Type," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 39(2), pages 1-14.
    5. Don Freeman, 2009. "Beer in Good Times and Bad: A U.S. State-Level Analysis of Economic Conditions and Alcohol Consumption," Working Papers 0906, Sam Houston State University, Department of Economics and International Business.

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