Simultaneity and Structural Change in U.S. Meat Demand
开发了逆几乎理想需求系统(IAIDS),检验美国肉类市场中价格和数量的内生性,发现两者均为内生,并利用工具变量消除了1970年代中期需求变化的证据。
Abstract An inverse of the Almost Ideal Demand System, the IAIDS, is developed in order to test the endogeneity of prices and quantities in the U.S. meat demand system. The IAIDS has all the desirable theoretical properties of the AIDS except aggregation from the micro to the market level. Using annual data, both prices and quantities appear to be endogenous within the entire meat market. Including livestock production costs and technical change indicators as instruments eliminates evidence of a mid 1970s demand change.