A Demand System Analysis of the U.S. Trout Market

Young-Jae Lee, P. Lynn Kennedy and Brian M. Hilbun

No 56414, 2010 Annual Meeting, February 6-9, 2010, Orlando, Florida from Southern Agricultural Economics Association

Abstract: Faced with a dynamic change in U.S. trout imports, this study tried to identify how trout imports affect the domestic trout industry in the United States. In doing so, this study analyzed the quantity effect and exchange rate effect on domestic trout price using a modified LDI-AIDS model. According to the results of this study, we found five important facts related to trout imports during this sample period of time. First, a low farm price of domestic trout might be due to reasons other than trout imports because empirical results show that the net effects of imported trout products are complementary rather than substitutionary in effect. Second, domestic trout price decreases with an increase in total trout supply into domestic market. Third, imported frozen products are gross-substitutes for domestic product, while imported fresh products are gross-complements for domestic product. Fourth, for domestic trout, the intensity of substitutable interaction of imported products is as follows: frozen fillets > frozen whole trout > fresh whole trout > rainbow trout. Finally, depreciation of the U.S. Dollar relative to the Chilean Peso reduces the negative impact of Chilean imported trout on domestic trout price.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Pages: 22
Date: 2010-02
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saea10:56414

DOI: 10.22004/ag.econ.56414

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