A structural time series approach to modelling multiple and resurgent meat scares in Italy
This paper exploits a structural time series approach to model the time pattern of multiple and resurgent food scares and their direct and cross-product impacts on consumer response. A structural time series Almost Ideal Demand System (STS-AIDS) is embedded in a vector error correction framework to allow for dynamic effects (VEC-STS-AIDS). Italian aggregate household data on meat demand is used to assess the time-varying impact of a resurgent BSE crisis (1996 and 2000) and the 1999 Dioxin crisis. The VEC-STS-AIDS model monitors the short-run impacts and performs satisfactorily in terms of residuals diagnostics, overcoming the major problems encountered by the customary vector error correction approach.
Year of publication: |
2006
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Authors: | Mazzocchi, Mario ; Monache, Davide Delle ; Lobb, Alexandra |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 38.2006, 14, p. 1677-1688
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Publisher: |
Taylor & Francis Journals |
Saved in:
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