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A Dynamic, Globally Flexible Model Of U.S. Meat Demand

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  • Wahl, Thomas I.
  • Hayes, Dermot J.

Abstract

A dynamic Almost Ideal Demand System is combined with the Fourier Expenditure System. The models are compared by using likelihood ratio tests. Elasticities for the U.S. meat system are presented for each model.

Suggested Citation

  • Wahl, Thomas I. & Hayes, Dermot J., 1989. "A Dynamic, Globally Flexible Model Of U.S. Meat Demand," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270672, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea89:270672
    DOI: 10.22004/ag.econ.270672
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    References listed on IDEAS

    as
    1. Pope, Rulon & Green, Richard & Eales, Jim, 1980. "Testing for Homogeneity and Habit in a Flexible Demand Specification U.S. Meat Consumption," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278408, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    3. Wahl, Thomas I. & Hayes, Dermot J. & Williams, Gary W., 1987. "Japanese Beef Policy and GATT Negotiations: An Analysis of Reducing Assistance to Beef Producers," Working Papers 51242, International Agricultural Trade Research Consortium.
    4. Chalfant, James A, 1987. "A Globally Flexible, Almost Ideal Demand System," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(2), pages 233-242, April.
    5. Gallant, A. Ronald, 1981. "On the bias in flexible functional forms and an essentially unbiased form : The fourier flexible form," Journal of Econometrics, Elsevier, vol. 15(2), pages 211-245, February.
    6. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-383, June.
    7. Elbadawi, Ibrahim & Gallant, A Ronald & Souza, Geraldo, 1983. "An Elasticity Can Be Estimated Consistently without A Priori Knowledge of Functional Form," Econometrica, Econometric Society, vol. 51(6), pages 1731-1751, November.
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    9. Michael K. Wohlgenant & William F. Hahn, 1982. "Dynamic Adjustment in Monthly Consumer Demands for Meats," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(3), pages 553-557.
    10. White, Halbert, 1980. "Using Least Squares to Approximate Unknown Regression Functions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(1), pages 149-170, February.
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