USMeatConsump {micEconAids}

U.S. Meat Consumption Data

Description

The USMeatConsump data set contains quarterly retail prices and consumption quantities for four meat product categories: beef, pork, chicken, and turkey. The data period ranges from the first quarter of 1975 to the third quarter of 1999. Hence, there are 99 observations.

Usage

data(USMeatConsump)

Format

This data frame contains the following columns:

year

Year.

qtr

Quarter of the year.

t

Time trend.

pop

Population [million].

cpi

Consumer price index.

total_exp

Total per capita expenditure.

meat_exp

Per capita expenditure on meat.

beef_q

Per capita consumption of beef [pound].

pork_q

Per capita consumption of pork[pound].

chick_q

Per capita consumption of chicken [pound].

turkey_q

Per capita consumption of turkey [pound].

beef_p

Retail price of beef [cents / pound].

pork_p

Retail price of pork [cents / pound].

chick_p

Retail price of chicken [cents / pound].

turkey_p

Retail price of turkey [cents / pound].

beef_w

Expenditure share of beef (in meat).

pork_w

Expenditure share of pork (in meat).

chick_w

Expenditure share of chicken (in meat).

turkey_w

Expenditure share of turkey (in meat).

Source

SAS, SAS/ETS Examples: Estimating an Almost Ideal Demand System Model, https://support.sas.com/rnd/app/ets/examples/aids/index.htm.

Examples

   ## replicating the LA-AIDS estimation of the SAS example
   # loading data set
   data( USMeatConsump )

   # adding shifter variables for modeling seasonal effects
   USMeatConsump$co1 <- cos( 1 / 2 * 3.14159 * USMeatConsump$t )
   USMeatConsump$si1 <- sin( 1 / 2 * 3.14159 * USMeatConsump$t )

   # Scaling prices by their means
   USMeatConsump$beef_pm <- USMeatConsump$beef_p / mean( USMeatConsump$beef_p )
   USMeatConsump$pork_pm <- USMeatConsump$pork_p / mean( USMeatConsump$pork_p )
   USMeatConsump$chick_pm <- USMeatConsump$chick_p / mean( USMeatConsump$chick_p )
   USMeatConsump$turkey_pm <- USMeatConsump$turkey_p / mean( USMeatConsump$turkey_p )

   # Estimation of the model
   meatModel <- aidsEst( c( "beef_pm", "pork_pm", "chick_pm", "turkey_pm" ),
      c( "beef_w", "pork_w", "chick_w", "turkey_w" ),
      "meat_exp", shifterNames = c( "co1", "si1", "t" ),
      priceIndex ="S", data = USMeatConsump, maxiter=1000 )
   summary( meatModel )