1987/02/01 by Walter N. Thurman
Economics, Econometrics and Finance · Agricultural and Biological Sciences · #Economics of Agriculture and Food Markets #Global trade and economics #Agricultural Economics and Policy
paper · doi:10.2307/1241303
Abstract The stability of the demand for poultry meat and specification issues in its estimation are explored. The analysis concludes that the demand for poultry meat shifted out in the early 1970s. At the same time, the demand relationship between poultry and pork changed from substitution to independence. A second conclusion is that poultry price is predetermined for demand in annual U.S. data, while quantity is not. A predetermined price suggests several market structures. Exogeneity tests are performed to distinguish among them. The results are consistent with a competitive, constant returns‐to‐scale‐industry facing elastic factor supplies.