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논문 기본 정보

자료유형
학술저널
저자정보
정욱영 (가톨릭관동대학교) 한진영 (가톨릭관동대학교)
저널정보
한국호텔리조트학회(구 한국호텔리조트카지노산학학회) 호텔리조트연구 호텔리조트연구 제20권 제6호
발행연도
2021.12
수록면
431 - 449 (19page)

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This paper investigates food and beverage and alcohol drinks consumption function using auto-regressive distributed lag(ADL) regression model using quarterly data from 1990 to 2020. Elasticities of age-specific disposable income, relative price, interest rate, and population aging index were estimated and the effects of population aging on beverage and alcohol drinks consumption were analyzed. Income elasticities were the biggest value of 0.77 in the fifties, 0.66 in the forties, 0.64 in the upper sixties and the smallest one of 0.61 in lower thirties. Price elasticities were found to be the most responsive value of -1.67 in the fifties and the least responsive one of -0.46 in lower thirties. The forties and the upper sixties showed -0.69 and ?1.60 respectively. Interest rate elasticity, household on average, showed -0.13 which means interest affect beverage and alcohol drinks consumption as an opposite direction. Population aging elasticity was estimated be ?0.11 which indicates 1% increment in population index will result in 0.11% decrease of beverage and alcohol drinks consumption. This result implies deepening in population aging will influence beverage and alcohol drinks industries as a negative factor. As seasonal impacts, summer shows the largest while fall does the smallest in beverage and alcohol drinks consumption. Facing with accelerating population aging, this paper could be a reference study in designing beverage and alcohol drinks industry policy.

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