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Title: An Assessment of Dynamic Behavior in the U.S. Catfish Market: An Application of the Generalized Dynamic Rotterdam Model
Authors: Muhammad, Andrew
Jones, Keithly G.
Keywords: catfish
partial adjustment
Rotterdam model
JEL Codes: C51
Issue Date: 2009-12
Abstract: The generalized dynamic Rotterdam model was used in estimating U.S. demand for disaggregated catfish. The overall goal was to examine habit persistence in consumption and to determine the adjustment process in demand. Results indicated that it took up to 1 month for catfish-product demand to fully adjust to changes in expenditures and prices. Additionally, habit persistence played a role in demand where present consumption of a given product was positively affected by past consumption of that product. Consequently, U.S. catfish demand was significantly more elastic in the long-run.
Institution/Association: Journal of Agricultural and Applied Economics>Volume 41, Number 03, December 2009
Total Pages: 14
From Page: 746
To Page: 759
Collections:Volume 41, Number 03, December 2009

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