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The Cost Function Estimation of Japanese Sake Industry with Prefecture-Wise Panel Data

Author

Listed:
  • Wakuo Saito

    (Graduate School of Economics, Keio University)

  • Teruo Nakatsuma

    (Faculty of Economics, Keio University)

Abstract

In recent years, the volume of sake and the number of its breweries have been declining. Covid-19, spreads from 2020, now decrease these less and less. To sustain the sake brewing industry under its market shrinkage, it is essential for each breweries to operate with cost awareness. In this research, we analyzed the cost structure of the sake brewing industry by estimating the translog cost function of sake using Japanese prefecture-wise panel data. We found significant differences in the cost structure among types of sake, but no significant differences among prefectures and time periods.

Suggested Citation

  • Wakuo Saito & Teruo Nakatsuma, 2021. "The Cost Function Estimation of Japanese Sake Industry with Prefecture-Wise Panel Data," Keio-IES Discussion Paper Series 2021-011, Institute for Economics Studies, Keio University.
    • Handle: RePEc:keo:dpaper:2021-011
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    More about this item

    Keywords

    Sake; Cost; Translog Cost Function;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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