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An Econometric Model of the Market for New England Groundfish

Published online by Cambridge University Press:  10 May 2017

Stephen R. Crutchfield
Stephen R. Crutchfield*
Affiliation:
Department of Resource Economics, University of Rhode Island, Kingston RI 02881
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Abstract

This paper develops an economic model of the New England groundfish market. A multi-sector, multi-level econometric model is estimated using data from 1970 to 1982. The parameters of the estimated model are used to characterize consumer demand for groundfish and related products. Retail and exvessel demands for fresh and frozen groundfish fillets are found to be highly elastic. Fresh fillets especially show high income elasticity of demand, reflecting their status as a luxury good. Only a very small and statistically weak relationship was found between the prices of imported groundfish and domestic ex vessel prices indicating that proposals to assist the domestic industry via tariffs may be ineffectual.

Type
Articles
Information
Northeastern Journal of Agricultural and Resource Economics , Volume 14 , Issue 2 , October 1985 , pp. 128 - 143
Copyright
Copyright © 1985 Northeastern Agricultural and Resource Economics Association 

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