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John Dyck

No 278048, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: Estimates of income, own-price, and cross-price elasticities of demand for beef, pork, chicken meat, and fish are reviewed. The estimates differ in the methods used to obtain them, in the data sources used, and in the periods that they cover. Changes in the sizes of some income and price elasticities appear to have occurred over time. Cross-price elasticity estimates have often been not significantly different from zero, and those that have been reported are often not in agreement with others. Use of aggregated fish consumption and of a fish price index has been unsuccessful, whether in determining the demand for fish or the demand for meats. Single-equation methods used to estimate elasticities with updated data show that remarkably high elasticities of demand for beef, pork, and chicken meat persist, and that most cross-price elasticities cannot be estimated with confidence. A few interesting cross-price elasticity estimates have emerged from previous demand system work, and such an approach is recommended for future use.

Keywords: Demand and Price Analysis; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 63
Date: 1988-08
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DOI: 10.22004/ag.econ.278048

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