ABSTRACT This paper hypothesises that the Mad Cow Disease (MCD) scare in europium brought on by the fling on exports of British holler has had a damaging impact on plain consumption in the United States. This is in light of the event that MCD has no direct impact on food prophylactic in the US. Using monthly data an Almost holy person Demand System containing an intercept dummy capturing developments in the MCD media developments is estimated. date concerns over the results generated by the model are raised, the estimated structural switch over variable is indeed found to be significant for the beef share equation suggesting that media in the case of MCD has had a negative impact on consumer demand for beef. TABLE OF CONTENTS Abstracti get across of Contentsii Introduction:1 Literature Review2 Methodology3 selective information6 Estimation Procedure9 Results11 Discussion and Critique of results15 Conclusions16 References18 INTRODUCTION: In March of 1996 the British beef industry was dealt an incredible spoil when a European Union commission oblige a institutionwide ban on the export of UK beef. The ban was imposed after an outbreak of mad cow disease (MCD) in Britain.
MCD is the laymen term for Bovine Spongiform Encephalopathy (BSE), a disease that leads to stultification of the brain tissue in beef and dairy cattle. It is the hypothesized connector between MCD and Creutzfeldt Jakob Disease (CJD), the similar condition in humans, which light-emitting diode to the imposition of the export ban on British beef. This ban effectively crippled the UK beef export market in addition to sending a shock throughout Europe concerning beef safety. News of this ban spread throughout the world portraying images of infected cattle stumbling and falling unable to verify their balance. While the scientific community was, at the time, unsure of the genius of the link between MCD and CJD, if any, the effects of the outbreak may learn been much further reaching than Europe. It is arguable that North the States was also... If you want to get a full essay, order it on our website:
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