Dynamic adjustment in the US beef market with imports

Brian L. Buhr, Hanho Kim

Research output: Contribution to journalArticle

1 Scopus citations

Abstract

This paper hypothesizes that while there are important qualitative differences in domestic beef and imported beef, beef and cattle imports also represent attempts by the US beef processing and wholesale sector to adjust to short-run changes in supply and demand. Dynamic production theory is applied to the problem to test for this adjustment process, and presents a production theory approach to meat trade that has previously been included in demand functions. The results of this analysis suggest that the method used provides a reasonable and appropriate representation of the import behavior of the US processing and wholesale beef sector.

Original languageEnglish (US)
Pages (from-to)21-34
Number of pages14
JournalAgricultural Economics
Volume17
Issue number1
DOIs
StatePublished - Oct 1 1997

Keywords

  • Adjustment costs
  • Beef
  • Imports
  • Production
  • Trade

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