Capturing structural changes in French meat and fish demand over the period 1991-2002

Olivier Allais; Véronique Nichle

doi:10.1093/erae/jbm033

Capturing structural changes in French meat and fish demand over the period 1991-2002

Olivier Allais, Véronique Nichle

AgroParisTech INRA

Research output: Contribution to journal › Article › peer-review

Abstract

A time-varying coefficient demand system, the Markov switching almost ideal demand model, is proposed to shed new light on change over time in the structure of French meat and fish demand. The main feature of this model is that the switching mechanism from one structure of demand to the other is controlled by an unobserved variable that follows a Markov chain. Our model accurately captures the two Bovine Spongiform Encephalopathy (BSE) crises of recent years. We estimate that the 1996 BSE crisis lasted almost three years, whereas the second BSE crisis for just lasted five 4-week periods.

Original language	English
Pages (from-to)	517-538
Number of pages	22
Journal	European Review of Agricultural Economics
Volume	34
Issue number	4
DOIs	https://doi.org/10.1093/erae/jbm033
Publication status	Published - 1 Dec 2007
Externally published	Yes

Keywords

Almost ideal demand model
BSE crisis
Consumer preferences
Markov switching
Meat and fish demand

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10.1093/erae/jbm033

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abstract = "A time-varying coefficient demand system, the Markov switching almost ideal demand model, is proposed to shed new light on change over time in the structure of French meat and fish demand. The main feature of this model is that the switching mechanism from one structure of demand to the other is controlled by an unobserved variable that follows a Markov chain. Our model accurately captures the two Bovine Spongiform Encephalopathy (BSE) crises of recent years. We estimate that the 1996 BSE crisis lasted almost three years, whereas the second BSE crisis for just lasted five 4-week periods.",

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AB - A time-varying coefficient demand system, the Markov switching almost ideal demand model, is proposed to shed new light on change over time in the structure of French meat and fish demand. The main feature of this model is that the switching mechanism from one structure of demand to the other is controlled by an unobserved variable that follows a Markov chain. Our model accurately captures the two Bovine Spongiform Encephalopathy (BSE) crises of recent years. We estimate that the 1996 BSE crisis lasted almost three years, whereas the second BSE crisis for just lasted five 4-week periods.

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KW - Consumer preferences

KW - Markov switching

KW - Meat and fish demand

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ER -

Capturing structural changes in French meat and fish demand over the period 1991-2002

Abstract

Keywords

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