The demand for beer and spirits in Ireland

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Title: The demand for beer and spirits in Ireland
Authors: Walsh, Brendan M.
Kennedy, Kieran Anthony
Ebrill, Liam P.
Permanent link: http://hdl.handle.net/10197/1523
Date: 1973
Abstract: This paper is primarily an attempt to estimate econometric demand equations for beer and spirits in Ireland, but it is hoped that it also sheds light on some of the general considerations involved in empirical demand analysis. The results, taken in conjuction with earlier studies, suggest that certain variables, in addition to price and income, play a significant role in such demand analysis in Ireland. A useful variable in this context is the dependency ration, which measures changes in the age structure of the population. The results also support the thesis that dynamic elements are of considerable importance in demand theory. The most serious technical problem encountered in the study was the high degree of multicollinearity in the explanatory variables. It emerged that some of the conventional rules of thumb normally used for identifying the existence of this problem failed to exercise sufficient discrimination, and this provides a salutary lesson.
Type of material: Journal Article
Publisher: Royal Irish Academy
Journal: Proceedings of the Royal Irish Academy Section C
Volume: 73
Issue: 13
Start page: 699
End page: 711
Copyright (published version): 1973, Royal Irish Academy
Subject LCSH: Alcoholic beverages--Ireland
Demand (Economic theory)--Econometric models
Language: en
Status of Item: Peer reviewed
metadata.dc.date.available: 2009-10-19T13:31:30Z
Appears in Collections:Architecture, Planning and Environmental Policy Research Collection
Economics Research Collection

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