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Demand Characteristics for Imported Cod Products in Portugal: An Application of PCAIDS and Demand Growth Index Modelling    

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  • In this paper, we measure demand characteristics for imported cod products in Portugal. Portugal imports cod primarily in three forms; frozen, salted and salted & dried but consumption of cod is primarily salted & dried product. Norway is the major producer and exporter of salted & dried cod but Portugal also produces this product from. Our interest is twofold; first, in measuring the elasticity of demand for imported product and, second in measuring growth in demand for imported products. It is common in economics to measure elasticities based on the Almost Ideal Demand System. However, to estimate an AIDS model requires price/quantity information on all commodities within the market structure of interest. For this paper, the Proportionally Calibrated Almost Ideal Demand System model is used (Epstein and Rubinfeld 2002, 2004). The PCAIDS model maintains the economic structure of the AIDS model but when data is limited, it is designed as a calibrated simulated model used to recover demand elasticities. Marsh (2003) shows a straightforward technique for measuring growth in market demand using an index approach. The technique is a decomposition of a change in quantity demanded between the percentage change accounted for by a price change along the demand curve and the percentage change accounted for by a shift in the demand curve. Results suggest a strong positive growth in demand for frozen product doubling the price of the product relative to the initial period. But both imported salted & dried and salted product show overall negative shifts in demand.
  • Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, held July 11-15, 2016 at Aberdeen Exhibition and Conference Center (AECC), Aberdeen, Scotland, UK.
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  • Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016.
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  • Aberdeen, Scotland, UK
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  • 0976343290

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