A system approach to the demand for salmon in the European Union

Frank Asche

61 citations0/0 files storedApplied Economics

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Economics of Agriculture and Food Markets Consumer Market Behavior and Pricing Economic and Environmental Valuation

Abstract

This study addresses the demand for salmon in the European Union. A system of demand equations are specified with an almost ideal demand system (AIDS)to analyse the demand structure for fresh, frozen and smoked salmon, using quarterly data for the period 1984–92. The time series porperties of the data series are explored, and the data series are found to be non-stationary, but cointegrated. To avoid the invalild inference and spurious regression problems that may be created by non-stationary data series,the fully modified least squares (FMLS) estimatior is utilized.

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References

1987Co-Integration and Error Correction: Representation, Estimation, and Testing 1979Distribution of the Estimators for Autoregressive Time Series with a Unit Root 1981Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root 1990Statistical Inference in Instrumental Variables Regression with I(1) Processes 1980An Almost Ideal Demand System 1980Economics and Consumer Behavior 1991Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimation 1986Understanding spurious regressions in econometrics

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2007Market Integration of Farmed Trout in Germany 1998The Demand for Salmon in the European Union: The Importance of Product Form and Origin 2009Demand elasticities for farmed salmon in world trade 2014PRICE TRANSMISSION IN NEW SUPPLY CHAINS—THE CASE OF SALMON IN FRANCE 2011Consistent Aggregation in Fish Demand: A Study of French Salmon Demand 2000Price interactions between salmon and wild caught fish species on the Spanish market

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