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Allais, Olivier; Nichele, Veronique. |
Structural change in the French demand of beef, poultry and fish is originally investigated. Rather than applying the traditional switching AIDS (S-AIDS) model, we reconsider the analysis of structural change through the Markov switching AIDS (MS-AIDS). The main feature of this model is that the switching mechanism is controlled by an unobserved variable that follows a Markov chain. As such, it captures more complex dynamic patterns than does the S-AIDS model. The MS-AIDS and the S-AIDS are compared to determine which model provides the better explanation of beef, poultry, and fish dynamic demand. We find that a MS-AIDS displaying habit formation detects the two mad cow crises in 1996 and 2000 and may identify the structural changes emanating from... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
Ano: 2004 |
URL: http://purl.umn.edu/20185 |
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