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Analysis of United States and European Union Import Demand for Shrimp

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  • Poudel, Pawan
  • Keithly, Walter R., Jr.

Abstract

Based on 1990-2004 quarterly data, U.S. and E.U. demand for imported shrimp by alternative supply sources was examined within an Almost Ideal Demand System framework. For the United States, supply sources included Central America, South America, and Asia. Supply sources for the European Union included Asia, South America, and Rest of World. All own-price elasticities for the U.S. system were found to be elastic while all own-price elasticities associated with the E.U. system were found to be inelastic. With few notable exceptions, estimated cross-price elasticities suggest substitution among import sources. Finally, shrimp of Asian origin were found to be highly expenditure elastic in the US market while shrimp of South American origin were found to be the same in the European market.

Suggested Citation

  • Poudel, Pawan & Keithly, Walter R., Jr., 2008. "Analysis of United States and European Union Import Demand for Shrimp," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6748, Southern Agricultural Economics Association.
  • Handle: RePEc:ags:saeaed:6748
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    File URL: http://purl.umn.edu/6748
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    References listed on IDEAS

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    1. Alston, Julian M & Foster, Kenneth A & Green, Richard D, 1994. "Estimating Elasticities with the Linear Approximate Almost Ideal Demand System: Some Monte Carlo Results," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 351-356, May.
    2. 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.
    3. repec:oup:revage:v:25:y:2003:i:1:p:187-202. is not listed on IDEAS
    4. Frank Asche & Cathy R. Wessells, 1997. "On Price Indices in the Almost Ideal Demand System," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1182-1185.
    5. James L. Seale & Mary A. Marchant & Alberto Basso, 2003. "Imports versus Domestic Production: A Demand System Analysis of the U.S. Red Wine Market," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 25(1), pages 187-202.
    6. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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    Keywords

    Demand and Price Analysis;

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