Conditional and unconditional food demand elasticities in a dynamic multistage demand system

Autor:	David Hallam, Stathis Klonaris
Rok vydání:	2003
Předmět:	Microeconomics Economics and Econometrics Three stage Demand curve Consumer demand media_common.quotation_subject Rank (computer programming) Econometrics Economics Welfare media_common
Zdroj:	Applied Economics. 35:503-514
ISSN:	1466-4283 0003-6846
DOI:	10.1080/00036840210148058
Popis:	This paper estimates conditional and unconditional demand elasticities in a three stage analysis of consumer demand for food and non-food items in Greece. A dynamic version of the AIDS model is specified and estimated, and full system misspecification tests applied. Correction formulas for price and expenditure elasticities are used to calculate unconditional elasticities from conditional demand sub-systems. All food items rank as price inelastic. Deviations between the calculated conditional and unconditional price and expenditure elasticities are found to be significant, demonstrating the importance of correcting conditional elasticities before they can be used for policy purposes or welfare analyses.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::a1d68dc1486e0d1edc68126fff0ef988 https://doi.org/10.1080/00036840210148058 Zobrazit plný text záznamu Plný text ve formátu PDF