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The Demand For Milk In Australia Estimation Of Price And Income Effects From The 1984 Household Expenditure Survey

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  • Bewley, Ronald A.
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    Abstract

    Cross-sectional data are used to estimate a three-equation generalised addilog demand system (GADS); two equations are used to express the demand for milk by method of sale and a residual equation is used to close the system. It is shown that, as the average budget share of the residual equation approaches unity, the GADS equations for the incomplete system are approximately equivalent to double logarithmic equations. It is found that aggregate milk demand is relatively insensitive to both price and income, but the degree of substitution between delivered and non-delivered milk is both large and highly significant. A new test for influential data in the system context is developed and it suggests that the reported results are robust to variations in the sample space.

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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.

    Volume (Year): 31 (1987)
    Issue (Month): 03 (December)
    Pages:

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    Handle: RePEc:ags:ajaeau:22270

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    Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    Related research

    Keywords: Consumer/Household Economics; Demand and Price Analysis;

    References

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    1. Bewley, R A, 1982. "On the Functional Form of Engel Curves: The Australian Household Expenditure Survey, 1975-76," The Economic Record, The Economic Society of Australia, vol. 58(160), pages 82-91, March.
    2. Laitinen, Kenneth, 1978. "Why is demand homogeneity so often rejected?," Economics Letters, Elsevier, vol. 1(3), pages 187-191.
    3. Somermeyer, W. H. & Langhout, A., 1972. "Shapes of Engel curves and demand curves: Implications of the expenditure allocation model, applied to Dutch data," European Economic Review, Elsevier, vol. 3(3), pages 351-386, November.
    4. Fisher, Brian S., 1979. "The Demand For Meat - An Example Of An Incomplete Commodity Demand System," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(03), December.
    5. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-83, June.
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    Cited by:
    1. LaFrance, Jeffrey T., 1990. "Incomplete Demand Systems And Semilogarithmic Demand Models," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 34(02), August.
    2. Drynan, Ross G. & Perich, M. & Batterham, Robert L. & Whelan, S.P., 1994. "The Effects of Policy Changes on the Production and Sales of Milk in New South Wales," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(02), August.

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