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Modelling food consumption patterns in Greece

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  • Elias Mantzouneas
  • George Mergos
  • Chrysostomos Stoforos

Abstract

Modelling consumption patterns is of interest for both theoretical and policy reasons. This paper presents a methodology for modelling consumption patterns combining a theory-based with a data-based approach and it continues with an application to Greek data. The adopted AIDS-ECM quantitative methodology aims to estimate the expected trends in consumption patterns in Greece following an increase in available income over the 2001-2010 period. Three scenarios are examined: the first scenario considers the EU projections for private consumption expenditure, 3% per annum, the second scenario assumes a higher growth of 5% per annum and the third scenario a 1% increase. The results of the first stage expenditure aggregation show a decrease in the budget share for the food group in all scenarios under consideration while the opposite is true for 'transportation and communication' and 'others'. Finally, the second stage expenditure aggregation estimates show an increase in the budget share for meat, fruits and vegetables and oils and fats, while the opposite is true for bread and cereals and other food.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 11 (2004)
Issue (Month): 8 ()
Pages: 507-512

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Handle: RePEc:taf:apeclt:v:11:y:2004:i:8:p:507-512

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  1. Kremers, Jeroen J M & Ericsson, Neil R & Dolado, Juan J, 1992. "The Power of Cointegration Tests," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 325-48, August.
  2. Balcombe, K. G. & Davis, J. R., 1996. "An application of cointegration theory in the estimation of the almost ideal demand system for food consumption in Bulgaria," Agricultural Economics, Blackwell, vol. 15(1), pages 47-60, September.
  3. Phillips, P C B, 1987. "Time Series Regression with a Unit Root," Econometrica, Econometric Society, vol. 55(2), pages 277-301, March.
  4. Attfield, Clifford L. F., 1985. "Homogeneity and endogeneity in systems of demand equations," Journal of Econometrics, Elsevier, vol. 27(2), pages 197-209, February.
  5. Banerjee, Anindya, et al, 1986. "Exploring Equilibrium Relationships in Econometrics through Static Models: Some Monte Carlo Evidence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 253-77, August.
  6. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
  7. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
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