Premium
Dynamic Adjustment in Monthly Consumer Demands for Meats
Author(s) -
Wohlgenant Michael K.,
Hahn William F.
Publication year - 1982
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1240649
Subject(s) - citation , state (computer science) , library science , graduate students , sociology , computer science , algorithm , pedagogy
This paper focuses on the nature of dynamic adjustment in monthly consumer demands for beef, pork, and chicken. Estimates with monthly data can differ from those with longer data periods. This is because habit formation relative to inventory adjustment decreases as the time interval decreases (Sexauer). With short time periods such as a month, inventory demand tends to dominate demand for use. If inventory demand is more elastic in the short run, the total elasticity of demand can increase as the time interval is shortened. As shown