Modelling structural change in the U.S. demand for meat
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When modelling the demand for beef, pork, chicken and turkey, none of the three demand systems are found to be statistically adequate, and consequently, cannot be used to address structural change issues for these particular data and commodities. The AIDS models are re-estimated in an attempt to model the demand for beef, pork, chicken and fish instead of turkey. The dynamic versions of the AIDS models using either a gradual shift spline path, a Farley-Hinich path, a variable measuring cholesterol awareness, or the log of the cholesterol awareness variable are all statistically adequate. Likelihood ratio tests on these models indicate that structural change has occurred. The significance of the cholesterol variable in the demand models indicates that health concern is an important factor in meat purchasing decisions.
- Masters Theses