World Food Demand
AbstractLong-term projections of global food demand are heavily dependent on which functional form of the food demand equation is used. Given that real incomes can change substantially over the long-term, key elements are the dependence of the income elasticity on income, which ensures that the food budget share always lies within the [0, 1] range, and the role of income inequality. This article analyzes these issues, proposes a new functional form that deals with them, and presents estimates of income and price elasticities for food in 138 countries. Copyright 2012, Oxford University Press.
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Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.
Volume (Year): 94 (2012)
Issue (Month): 1 ()
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- Meade, Birgit & Regmi, Anita & Seale, James L. Jr & Muhammad, Andrew, 2014. "New International Evidence on Food Consumption Patterns: A Focus on Cross-Price Effects Based on 2005 International Comparison Program Data," Technical Bulletins 165687, United States Department of Agriculture, Economic Research Service.
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