This article offers a comparison of short-term forecasting ability of five demand systems with an application to U.S. meat consumption. Four static demand systems (AIDS, Rotterdam, AIM, and DGM) and a dynamic Vector Error Correction Model (VECM) are considered. We tested the equality of mean...

We propose to use the emerging method of directed graphs to study price/quantity endogeneity issues in empirical demand analysis. The approach is illustrated through the examination of U.S. meat consumption. We find that for two major meat products (beef and poultry), retail prices...