Behavior of meat domestic demand in the period 1979-85

Abstract

In this study, an attempt is made to formulate a domestic demand function for beef that allows estimating certain key parameters, such as own price elasticity, income elasticity and cross elasticities. The fact that beef is one of the most heavily weighted items in the consumer price index basket and that it represents a relatively important foreign reserves source for the country, requires us to analyze in some detail the economic variables that determine the behavior of its domestic demand. It is also expected that the function to be empirically estimated will be useful both to explain the past evolution of beef consumption and to make predictions about its future behavior.

JEL classification: C20 ; L66 ; Q11