| 초록 |
This study develops a time-varying parameter model specifying advertising parameters as a function of market environments. This model allows researchers to explain main factors of price variations on the Korean beef. Also this model estimates the generic advertising effect and examines the sources of determining it over time. Results indicate that generic advertising effect varied as time passed, but was close to zero in terms of supporting price of the Korean beef. However, our results also suggest that when the market conditions are unfavorable due to increase of imported beef, shifting targeted advertising efforts become more important and effective with extedning sales network of quality certificated Korean beef.
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