|
AgEcon Search >
Marine Resource Economics >
Volume 12, Number 3, 1997 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/28266
|
| Title: | DYNAMIC ADJUSTMENT IN DEMAND EQUATIONS |
| Authors: | Asche, Frank |
| Issue Date: | 1997 |
| Abstract: | The focus of this paper is the dynamic adjustment of demand. It is shown that a dynamic specification of the demand equation provides information on: (i) the level of response to a price or expenditure change taking place instantaneously, (ii) how much the adjustment has taken place after any number of periods, and (iii) how long it takes for the price change to be fully reflected in the demand. The importance of the dynamic adjustment is shown for the import demand for fresh and frozen salmon in the European Union. The results indicate that, for these product forms, only about 10% of the adjustment from a price or expenditure change takes place instantaneously, that over 60% of the adjustment has taken place after three months, but that it takes almost a year before the change is fully reflected in the demand. |
| URI: | http://purl.umn.edu/28266 |
| Institution/Association: | Marine Resource Economics>Volume 12, Number 3, 1997 |
| Total Pages: | 17 |
| Language: | English |
| From Page: | 221 |
| To Page: | 237 |
| Collections: | Volume 12, Number 3, 1997
|
Recommend this item
All items in AgEcon Search are protected by copyright.
|
