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Abstract

Demand models were estimated for five commodities using annual retail level Japanese data. Estimates were made with the Houthakker-Taylor [Houthakker, H.S .• Taylor, L.D., 1970. Consumer Demand in the United States: Analysis and Projections. Harvard University Press, New York, MA] state adjustment model. Significant lags were found for meat and cereal, which means that habit is important for these commodities. Some habit affects were also found for seafood.© 2001 Elsevier Science B.V. All rights reserved.

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