Dynamics and Long-run Structure in U.S. Meat Demand

T. Kesavan, Zuhair A. Hassan, Helen Jensen and Stanley R. Johnson

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: Empirical analysis, based on a general dynamic Almost Ideal Demand System, shows the commonly used autoregressive and partial adjustment processes are restrictive to meat demand data. This study derives a linear specification in levels form to investigate dynamics in a general framework. Merging a long-run steady state structure with short-run dynamics results in consistent and robust long-run demand elasticitiesUne analyse empirique, basée sur un systéme dynamique général de demande quasi optimale, montre que les mécanismes courants d'ajustement autorégressif et d'ajustement partiel ont un effect restrictif sur l'évaluation des données de la demande de viande. Les auteurs proposent une spécifcation linéaire par niveaux pour examiner la dynamique du cadre général. La combinaison d'une structure stable de longue durée avec une dynamique de courte période a produit des élasticités cohérentes et solides de la demande à long terme

Date: 1993-07-01
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Related works:
Journal Article: Dynamics and Long-run Structure in U.S. Meat Demand (1993)
Working Paper: Dynamics and Long-Run Structure in U.S. Meat Demand (1993)
Working Paper: Dynamics and Long-run Structure in U.S. Meat Demand (1988)
Working Paper: Dynamics and Long-run Structure in U.S. Meat Demand (1988)
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