An Assessment of Dynamic Behavior in the U.S. Catfish Market: An Application of the Generalized Dynamic Rotterdam Model

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.


Issue Date:
2009-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/56660
Published in:
Journal of Agricultural and Applied Economics, Volume 41, Number 3
Page range:
746-759
Total Pages:
14
JEL Codes:
C51; Q11; Q13; Q17




 Record created 2017-04-01, last modified 2017-04-28

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