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- Title
Examining the Japanese seaweed market before and after the earthquake using a partial adjustment model of LA-AIDS.
- Authors
Wakamatsu, Hiroki; Miyata, Tsutomu
- Abstract
This study examines the changes in market demand for wakame seaweed before and after the Great East Japan Earthquake. For this purpose, we use scanner data comprising prices, quantity, brands, countries/places of origin, and product types of wakame for ten regional markets during the period 2005-2014. The Japanese seafood market suffered from the direct and indirect impact of the earthquake in 2011. Serious damage caused by the earthquake and tsunamis would have at least caused significant changes in the demand elasticities for wakame. However, using a linear-approximated almost ideal demand system (LA-AIDS) model, we find that, although disparities exist in the estimated elasticities between the pre- and post-earthquake periods, there is no significant change in the demand for wakame. Moreover, own-price elasticities of Sanriku wakame did not change even after the earthquake, and cross-price elasticities of Sanriku and its rival, Naruto, did not reveal a remarkable structural change from substitution to complementation or vice versa. This study concludes that the damage to the wakame seaweed market in Japan is at least limited.
- Subjects
MARINE algae industry; SENDAI Earthquake, Japan, 2011; ELASTICITY (Economics); MARINE algae as food; ECONOMIC demand; ECONOMICS
- Publication
Fisheries Science, 2016, Vol 82, Issue 3, p549
- ISSN
0919-9268
- Publication type
Article
- DOI
10.1007/s12562-016-0985-9