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Microeconomic Adjustments Of Households To Macroeconomic Shocks: Household Level Welfare Impacts Of The Indonesian Economic Crisis

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Author Info
Fabiosa, Jacinto
Jensen, Helen

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Abstract

The macroeconomic crisis in Indonesia in the late 1990s reduced real per capita income by 74 percent and increased prices of some food groups by 92-445 percent. Adjustments in the consumption decisions of households during this period was analyzed using SUSENAS data. The data showed a very strong pattern of adjustment in the consumption decisions of households. That is, households substituted away from more expensive food groups to cheaper alternatives. Of the nine food groups examined, per capita consumption declined in seven food groups with largest declines in eggs-milk (38%), fish (20%), and meats (13%). In contrast, consumption of the cheapest food group - tubers, increased by 22 percent. Also, households substituted away from the expensive animal-protein sources to cheaper plant-protein sources. Consumption of legumes increased by 13 percent. Moreover, the proportion of households with positive consumption showed the largest declines in meats (13 percentage points) and eggs-milk (10 percentage points), while it declined the lowest in legumes (0.66 percentage points). On the other hand, the proportion of households with positive consumption actually increased only in tubers. The same pattern is shown by the budget re-allocation of households. An AIDS model that accommodates zero consumption was estimated using Heien-Wessels and Shonkwiler-Yen methods. Variation in the parameter (and elasticity) estimates between the two models is largest in food groups with higher proportion of zero consumption such as in meats, while parameter estimates did not vary significantly in food groups with high proportion of positive consumption such as vegetable and cereals. Welfare analysis shows doubling of the cost of purchasing a bundle of food groups that give the same level of utility as in the pre-crisis period.

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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number 19856.

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Date of creation: 2002
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Handle: RePEc:ags:aaea02:19856

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Keywords: Consumer/Household Economics;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Lee, Lung-Fei & Pitt, Mark M, 1986. "Microeconometric Demand Systems with Binding Nonnegativity Constraints: The Dual Approach," Econometrica, Econometric Society, vol. 54(5), pages 1237-42, September. [Downloadable!] (restricted)
  2. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June. [Downloadable!] (restricted)
  3. Heien, Dale & Wessells, Cathy Roheim, 1990. "Demand Systems Estimation with Microdata: A Censored Regression Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(3), pages 365-71, July.
  4. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January. [Downloadable!] (restricted)
  5. Amemiya, Takeshi, 1974. "Multivariate Regression and Simultaneous Equation Models when the Dependent Variables Are Truncated Normal," Econometrica, Econometric Society, vol. 42(6), pages 999-1012, November. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Fabiosa, Jacinto & Jensen, Helen, 2003. "Usefulness of Incomplete Demand Model in Censored Demand System Estimation," 2003 Annual meeting, July 27-30, Montreal, Canada 21923, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  2. Suwen Pan & Cheng Fang & Jaime Malaga, 2006. "Alcoholic beverage consumption in China: a censored demand system approach," Applied Economics Letters, Taylor and Francis Journals, vol. 13(15), pages 975-979, December. [Downloadable!] (restricted)
  3. Fabiosa, Jacinto & Jensen, Helen & Yan, Dong, 2005. "Household Welfare Cost of the Indonesian Macroeconomic Crisis," 2005 Annual meeting, July 24-27, Providence, RI 19311, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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