Estimating Import Demand Functions in Major Beef Importing Countries by Bayesian Hierarchical Linear Model

Byung Min Soon and Wyatt Thompson

No 235735, 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts from Agricultural and Applied Economics Association

Abstract: Trade elasticities are critical for price or structural change analysis. The Armington demand model is used to estimate trade elasticities, the country-of-origin bias, and the impact of the U.S. BSE outbreak on preferences. OLS estimation generates theoretically wrong signs, including a positive impact of U.S. BSE on other countries’ demand for imported beef. Results of a Bayesian hierarchical model show that import demand of countries that tend to import more beef from the U.S., such as Japan, Canada, Korea, and Russia, are affected more by the U.S. BSE outbreak than countries, such as the EU that tend not to import from the U.S.

Keywords: Agricultural and Food Policy; Demand and Price Analysis; International Relations/Trade; Livestock Production/Industries; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 33
Date: 2016-08-02
New Economics Papers: this item is included in nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea16:235735

DOI: 10.22004/ag.econ.235735

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