scholarly journals An applied economic analysis of the demand for pork primal cuts

2021 ◽  
Author(s):  
◽  
Jaime Luke
Keyword(s):  
Economic Analysis ◽  
Price Elasticity ◽  
Economic Model ◽  
Pork Industry ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Detrimental Impact ◽  
Domestic Disappearance

This study estimates domestic disappearance equations for the six main pork primal cuts (belly, butt, ham, loin, picnic, and rib) to determine the own-price, cross-price, and income elasticities for each cut. These equations were utilized to develop an economic model of the pork industry that was used to determine the impacts that various trade scenarios could have on monthly disappearance, production, exports, and cutout values both for each primal cut and pork as a whole. It was found that the own-price elasticity of bellies was most inelastic and of loins was least inelastic. Of the primal cuts, decreasing exports of bellies had the most detrimental impact on the pork cutout value. Of the main pork exports markets, decreasing exports to China had the most detrimental impact on the pork cutout value.

scholarly journals Benefits of Concluding the Trade Agreement between the EU and Australia

2021 ◽  
pp. 69-91
Author(s):  
France Križanič ◽  
◽  
Vasja Kolšek ◽  
Žan Jan Oplotnik ◽  
◽  
...  
Keyword(s):  
At Risk ◽  
Price Elasticity ◽  
Income Elasticity ◽  
Trade Agreement ◽  
Gdp Per Capita ◽  
Developed Country ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Per Capita ◽  
High Level

Australia is a developed country with higher GDP per capita than Slovenia. In this context, it is of great interest to Slovenian exporters. Slovenian export to this market is growing, while imports lags behind. The price elasticity of Slovenian exports of goods to Australia is 0.9, while the income elasticity is 4.6. The price and income elasticities of goods from Australia are higher than the corresponding elasticities of Slovenian exports. Despite the higher price elasticity of Australian goods imported by Slovenia, according to the price elasticity of Slovenian exports to the Australian market, even with the same mutual price reduction the Slovenian surplus continues to rise as a result of its initial high level. Slovenian exports are also at risk of losing their potential position on the Australian market due to the intensive integration of Australia into trade partnerships with developed Pacific economies, particularly Japan and South Korea. The effect of these agreements on Slovenian exports has been growing over recent years.

scholarly journals Estimación de la elasticidad de la demanda de banano fresco en Estados Unidos

UDA AKADEM ◽  
2020 ◽  
pp. 156-183
Author(s):  
María Priscila León-Cando ◽  
 Luis Bernardo Tonon-Ordóñez
Keyword(s):  
United States ◽  
Price Elasticity ◽  
Income Elasticity ◽  
Demand Estimation ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Palabras Clave ◽  
Relationship Of ◽  
The Relationship ◽  
Banana Market

Debido a la importancia del banano en la economía ecuatoriana, es imprescindible analizar la demanda del principal mercado de banano fresco del mundo, Estados Unidos, así como estimar sus elasticidades, precio y renta de la demanda; y, analizar la relación del banano con otras frutas en este mercado. Para la estimación, se utilizó el método de Mínimos Cuadrados Ordinarios. Se determinó que, en este mercado con potencial de crecimiento, el banano es un bien inelástico y normal. El periodo analizado fue de 2001 a 2016.Palabras clave: Banano, Estados Unidos, Estimación demanda, Elasticidad precio, Elasticidad renta. Abstract. ue to the importance of banana in the Ecuadorian economy, is essential to analyze the demand of the world’s principal fresh banana market, United States, as well as estimate its price and income elasticities, and analyze the relationship of bananas with other fruits in this market. The Ordinary Minimum Squares Method was used for the estimation. It was determinated that in this market with potencial growth, bananas are inelastic, and considered a normal good. The period analyzed was from 2001 to 2016. Keywords: Banana, United States, Demand estimation, Price Elasticity, Income Elasticity

Elasticities of Food Demand in Germany – A Demand System Analysis Using Disaggregated Household Scanner Data

2021 ◽  
Vol 70 (1) ◽  
pp. 49-62
Author(s):  
Jonas Peltner ◽  
Silke Thiele
Keyword(s):  
Price Elasticity ◽  
System Analysis ◽  
Demand System ◽  
Food Demand ◽  
Scanner Data ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
High Expenditure ◽  
Purchasing Behaviour ◽  
Raw Foods

This paper presents price and income elasticities of food demand for Germany. Using disaggregated household scanner data and the Quadratic Almost Ideal Demand System (QUAIDS). The QUAIDS is modified to account for censoring and include household demographics. Furthermore, a two-stage budgeting approach is used to more accurately reflect households’ purchasing behaviour. Having disaggregated data also allowed to include convenience aspects into the demand system. High expenditure elasticities are found for fruits and nuts and meat, fish and eggs. The highest own-price elasticity is found for beverages. At the second stage, the bread toppings group reveals new insights into demand relations between cold cuts, cheese and other spreads. Cold cuts have both the highest expenditure and own-price elasticity. Cross-price elasticities indicate mostly complementary relations between cold cuts and other bread toppings. Comparing different income groups shows that expenditure elasticities of raw foods or basic ingredient foods tend to decrease as income increases, whereas expenditure elasticities of foods that require minimal or no preparation tend to increase with income. In conclusion, this study stresses the need for regularly updated elasticities of food demand that reflect up-to-date consumption behavior.

Household consumption allocation and the collective household model: Children share of household resources in The Gambia

2021 ◽  
pp. 1-13
Author(s):  
Madi Mangan
Keyword(s):  
Household Income ◽  
Nonlinear Least Squares ◽  
The Gambia ◽  
Factor Price ◽  
Sharing Rule ◽  
Income Elasticities ◽  
Household Resources ◽  
Price And Income Elasticities ◽  
Household Model ◽  
Household Members

This paper applies the collective household model to allocate household resources among household members. With a Collective Quadratic Almost Ideal Demand System (CQUAIDS) estimated by a Feasible Generalized Nonlinear Least Squares (FGNLS) method, it studies the household demand for six categories of household goods using household income and expenditure survey data from The Gambia, directed to studying the allocation of resources among young and adult members of households in The Gambia. It establishes the sharing rule for children and adult members of the household and shows the effect of demographic, distributive factor, price and income elasticities on the shares of household resources. The results establish that a higher share of resources goes for children while the sharing rule varies for different household types. Also, the findings show significant effects of demographic, distributive factor, price and income on the allocation of the household resources of consumption goods by the household.

The U. S.-Canada Free Trade Agreement: Impact on the U. S. Steel Industry

1994 ◽  
Vol 38 (1) ◽  
pp. 53-61 ◽  
Author(s):  
Harold R. Williams ◽  
Thomas J. Botzman
Keyword(s):  
Free Trade ◽  
Multiple Linear Regression Model ◽  
Trade Agreement ◽  
Single Equation ◽  
Steel Mill ◽  
Iron And Steel ◽  
Explanatory Variables ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
The Impact

This study empirically estimates the impact of the U. S.-Canada FTA on specific iron and steel exports and imports using quarterly data for the period January 1981 to December 1990. A single equation multiple linear regression model is used to quantify at the industry and industry segment levels the impact of the agreement. The dependent variables are the quantities of major steel products traded between the two nations. The explanatory variables include foreign price adjusted for the exchange rate and tariff rate, domestic price, and the industrial production index. Results include calculation of price and income elasticities, which vary considerably by industry segments. The impact of free trade, as modeled, varies widely from product to product. As such it has important implications not only for government policy and employment but also for the adjustment problems faced by both the large integrated steel mill and the minimill producers.

scholarly journals Unraveling Demand for Dairy-Alternative Beverages in the United States: The Case of Soymilk

2014 ◽  
Vol 43 (1) ◽  
pp. 140-157 ◽  
Author(s):  
Senarath Dharmasena ◽  
Oral Capps
Keyword(s):  
United States ◽  
Employment Status ◽  
The United States ◽  
Education Level ◽  
Household Level ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Race Ethnicity ◽  
Targeted Marketing ◽  
The U.S

Soymilk is one of the fastest growing categories in the U.S dairy alternative functional beverage market. Using household-level purchase data from Nielsen's 2008 Homescan panel and the Tobit econometric procedure, we estimate conditional and unconditional own-price, cross-price, and income elasticities for soymilk, white milk, and flavored milk. Income, age, employment status, education level, race, ethnicity, region, and presence of children in a household are significant drivers of demand for soymilk. White milk and flavored milk are competitors for soymilk, and soymilk is a competitor for white milk. Strategies for pricing and targeted marketing of soymilk are also discussed.

Demand and supply: the price mechanism in a market economy.

2021 ◽  
pp. 26-50
Author(s):  
Berkeley Hill
Keyword(s):  
Market Economy ◽  
Agricultural Sector ◽  
The State ◽  
Price Mechanism ◽  
Demand And Supply ◽  
Factors Affecting ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Factors Of Production ◽  
Complementary Goods

Abstract This chapter discusses the theories of demand and supply, including the factors affecting the demand for commodities (the price of the commodity itself, the incomes of consumers, the price of competitive (or substitute) goods, the price of complementary goods, and the tastes of consumers) as well as the factors affecting supply (the price of the good, the prices of other goods that firms could produce or do produce, the prices of factors of production, the state of technology, and the goals/objectives of firms). The significance of the price and income elasticities of demand to the agricultural sector is highlighted.

scholarly journals Dynamics of Electricity Demand in Lesotho: A Kalman Filter Approach

2015 ◽  
Vol 10 (1) ◽  
pp. 130-139 ◽  
Author(s):  
Retselisitsoe Isaiah Thamae ◽  
Leboli Zachia Thamae ◽  
Thimothy Molefi Thamae
Keyword(s):  
Kalman Filter ◽  
Electricity Consumption ◽  
Electricity Demand ◽  
International Standards ◽  
Economic Activities ◽  
Electricity Prices ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Long Run ◽  
Filter Approach

Abstract This study provides an empirical analysis of the time-varying price and income elasticities of electricity demand in Lesotho for the period 1995-2012 using the Kalman filter approach. The results reveal that economic growth has been one of the main drivers of electricity consumption in Lesotho while electricity prices are found to play a less significant role since they are monopoly-driven and relatively low when compared to international standards. These findings imply that increases in electricity prices in Lesotho might not have a significant impact on consumption in the short-run. However, if the real electricity prices become too high over time, consumers might change their behavior and sensitivity to price and hence, energy policymakers will need to reconsider their impact in the long-run. Furthermore, several exogenous shocks seem to have affected the sensitivity of electricity demand during the period prior to regulation, which made individuals, businesses and agencies to be more sensitive to electricity costs. On the other hand, the period after regulation has been characterized by more stable and declining sensitivity of electricity demand. Therefore, factors such as regulation and changes in the country’s economic activities appear to have affected both price and income elasticities of electricity demand in Lesotho.

scholarly journals Modelling international monthly tourism demand at the micro destination level with climate indicators and web-traffic data

2019 ◽  
Vol 26 (7) ◽  
pp. 1129-1151 ◽  
Author(s):  
Silvia Emili ◽  
Paolo Figini ◽  
Andrea Guizzardi
Keyword(s):  
Main Type ◽  
Policy Intervention ◽  
Traffic Data ◽  
Tourism Demand ◽  
Web Traffic ◽  
Web Based ◽  
Demand Functions ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Climate Indicators

We investigate if and how climate indicators and web-traffic data may improve the estimates of demand functions’ parameters, considering specific origins and destinations. Overall, augmented demand functions show better fit and more reliable price and income elasticities whether the demand is measured with arrivals or with overnights. However, heterogeneity stemming from the main type of tourism (business vs. cultural vs. sea and sun) affects both the web-based and the climate indicators better describing tourists demand as well as their optimal lags. Our findings highlight the utility of such prompt and territorial detailed information for local policymakers, showing, however, how sensitive different demand segments are to policy intervention.

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