PARAMETER STABILITY AND THE U.S. DEMAND FOR BEEF

GianCarlo Moschini · Karl D. Meilke

55 citations0/0 files storedRePEc: Research Papers in Economics

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Economics of Agriculture and Food Markets Agricultural economics and policies Consumer Market Behavior and Pricing

Abstract

The main objective of this paper is to test the hypothesis that consumer preferences for beef in the United States have been affected by structural change, which reduces to testing for parameter stability in estimated demand equations. To this end, alternative specifications of the demand function are estimated using a general form of the Box-Cox transformation. Tests based on recursive residuals and on the F distribution provide little evidence of structural change, and suggest that the recent decline in beef consumption may be explained by changes in relative prices.

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References

1980Economics and Consumer Behavior 1983Structural Change in the Demand for Meat 1982Recursive stability analysis of linear regression relationships 1977Functional Forms and the Demand for Meat in the United States

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2001THE EFFECT OF E. COLI O157:H7 ON BEEF PRICES 1988Input Substitution and the Distribution of Surplus Gains from Lower U.S. Beef‐Processing Costs

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