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A Note on Forecasting Alcohol Demand

Published online by Cambridge University Press:  18 September 2019

Derby Voon  and
James Fogarty
Derby Voon
Affiliation:
Agricultural and Resource Economics, School of Agriculture and Environment, University of Western Australia, Crawley WA 6009, Australia; e-mail: [email protected].
James Fogarty
Affiliation:
Agricultural and Resource Economics, School of Agriculture and Environment, University of Western Australia, Crawley WA 6009, Australia; e-mail: [email protected].
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Abstract

A recent study in the Journal of Wine Economics presented forecasts of future alcohol consumption derived using the ARIMA (Box–Jenkins) method. Alcohol consumption forecasts can be developed using many different methodologies. In this Note we highlight the value of using multiple methods to develop alcohol consumption forecasts, and demonstrate the capability of the R software platform as a general forecasting tool. (JEL Classifications: D12, C53)

Keywords

alcohol consumptionforecasting
Type
Articles
Information
Journal of Wine Economics , Volume 14 , Issue 2 , May 2019 , pp. 208 - 213
Copyright
Copyright © American Association of Wine Economists 2019 

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Footnotes

The authors thank Karl Storchmann, an anonymous referee, and the editorial team at JWE for their assistance with this Note.

References

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