The demands they are a-changin
Smooth operators such as time trends are often applied to deal with unidentified demand shifters. However, if unknown factors affect demand irregularly, a time trend fails to capture the variation. We present an index approach for estimating irregular demand shifts, decomposing total demand shifts i...
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| Veröffentlicht in: | European review of agricultural economics 2018-09, Vol.45 (4), p.531-552 |
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| container_title | European review of agricultural economics |
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| creator | Brækkan, Eivind Hestvik Thyholdt, Sverre Braathen Asche, Frank Myrland, Øystein |
| description | Smooth operators such as time trends are often applied to deal with unidentified demand shifters. However, if unknown factors affect demand irregularly, a time trend fails to capture the variation. We present an index approach for estimating irregular demand shifts, decomposing total demand shifts into predicted and unexplained effects. This allows separating demand shifts caused by known factors like income and substitution effects from unknown impacts on demand. Our application on farmed salmon shows unknown factors impact demand irregularly both between regions and within regions over time. Unknowns contribute to more than half of global salmon demand growth in recent years. |
| doi_str_mv | 10.1093/erae/jby003 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0165-1587 |
| ispartof | European review of agricultural economics, 2018-09, Vol.45 (4), p.531-552 |
| issn | 0165-1587 1464-3618 1464-3618 |
| language | eng |
| recordid | cdi_cristin_nora_10037_14474 |
| source | NORA - Norwegian Open Research Archives; PAIS Index; Oxford University Press Journals All Titles (1996-Current) |
| subjects | Agricultural economics Agriculture and fishery disciplines: 900 Aquaculture aquaculture economics demand growth farmed salmon Fisheries Fisheries science: 920 Fiskerifag: 920 Landbruks- og Fiskerifag: 900 market analysis Operators Salmon seafood VDP |
| title | The demands they are a-changin |
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