미국High Fructose Corn Syrup (HFCS) 소비와 가격의 장단기 관계와 스위트너(Sweetener) 시장에 미치는 영향

• 영문명: Short- and Long-Run Relationship of U.S. High Fructose Corn Syrup (HFCS) Demand and Price and its Implication for the U.S. Sweetener Market: A Cointegration Analysis
• 발행기관: 한국농식품정책학회
• 저자명: Dae seob Lee P. Lynn Kennedy
• 간행물 정보: 『농업경영.정책연구』농업경영·정책연구 32권 4호, 787~798쪽, 전체 12쪽
• 주제분류: 농수해양 > 식품과학
• 파일형태: PDF
• 발행일자: 2005.12.31

영문 초록

A cointegration analysis is utilized to investigate possible linkages between these markets. The study result shows that there is cointegration in a relationship including, HFCS price, the refined sugar price, and income. HFCS demand is not significantly responsive to price and income changes in the short-run, but it is responsive to these changes in the lone-run, which implies that consumers eventually adjust their consumption behavior with respect to price and income. In the meantime, the refined sugar price does not affect HFCS demand in the short-run. It has positive sign and the cross elasticity in the long-run is 0.158.

목차

Abstract

I. Introduction

II. U.S. HFCS Demand

III. Theoretic Background and Data

IV. Empirical Estimation and Results

V. Concluding Comments and Implications on the U.S. Sweetener Market

References

키워드

cointegration HFCS demand sugar sweetener