An Econometric Analysis of Shrimp Ex-Vessel Prices, 1950—1968

A five-equation demand model of the U.S. shrimp market was estimated using annual data for the period from 1950 to 1968. Prices, consumption, and ending stocks were the jointly determired variables; predetermined variables were shrimp supplies and consumer income. Exvessel price variations resulted...

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Bibliographic Details
Published in:American journal of agricultural economics 1972-08, Vol.54 (3), p.431-440
Main Author: Doll, John P.
Format: Article
Language:English
Subjects:
Cold storage
Consumer economics
Consumer prices
Economic models
Marine
Market prices
Retail prices
Shrimp
Supply
Wholesale prices
Wholesale trade
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Summary:A five-equation demand model of the U.S. shrimp market was estimated using annual data for the period from 1950 to 1968. Prices, consumption, and ending stocks were the jointly determired variables; predetermined variables were shrimp supplies and consumer income. Exvessel price variations resulted largely from variations in domestic landings. Imports reduced the general level of ex-vessel prices but did not contribute substantially to price variability except in isolated instances. Large price drop occurred during periods of recession when increases in demand were slowed and stock began to build, while landings and imports increased substantially over the previous year.
ISSN:0002-9092
1467-8276
DOI:10.2307/1239159