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The Calibration Of Incomplete Demand Systems In Quantitative Analysis

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  • Beghin, John C.
  • Bureau, Jean-Christophe
  • Drogue, Sophie

Abstract

We introduce an easily implemented and flexible calibration technique for partial demand systems, combining recent developments in incomplete demand systems and a set of restrictions conditioned on the available elasticity estimates. The technique accommodates various degrees of knowledge on cross-price elasticities, satisfies curvature restrictions, and allows the recovery of an exact welfare measure for policy analysis. The technique is illustrated with a partial demand system for food consumption in Korea for different states of knowledge on cross-price effects. The consumer welfare impact of food and agricultural trade liberalization is measured.

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File URL: http://purl.umn.edu/25820
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Bibliographic Info

Paper provided by International Association of Agricultural Economists in its series 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa with number 25820.

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Date of creation: 2003
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Handle: RePEc:ags:iaae03:25820

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Keywords: calibration; exact welfare measure; incomplete demand systems; policy analysis.; Demand and Price Analysis;

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  1. Beghin, John C. & Bureau, Jean-Christophe & Park, Sung Joon, 2003. "Food Security and Agricultural Protection in South Korea," Staff General Research Papers 2006, Iowa State University, Department of Economics.
  2. Selvanathan, E. Antony, 1985. "An even simpler differential demand system," Economics Letters, Elsevier, vol. 19(4), pages 343-347.
  3. GianCarlo Moschini, 2001. "A Flexible Multistage Demand System Based on Indirect Separability," Southern Economic Journal, Southern Economic Association, vol. 68(1), pages 22-41, July.
  4. GianCarlo Moschini, 2000. "Flexible Multistage Demand System Based on Indirect Separability, A," Center for Agricultural and Rural Development (CARD) Publications 00-wp265, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  5. Jeffrey T. LaFrance & W. Michael Hanemann, 1989. "The Dual Structure of Incomplete Demand Systems," Development Research Unit Working Paper Series archive-21, Monash University, Department of Economics.
  6. LaFrance, Jeffrey T., 1985. "Linear demand functions in theory and practice," Journal of Economic Theory, Elsevier, vol. 37(1), pages 147-166, October.
  7. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
  8. Cheng Fang & John C. Beghin, 2000. "Urban Demand for Edible Oils and Fats in China: Evidence from Household Survey Data," Food and Agricultural Policy Research Institute (FAPRI) Publications 00-wp245, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
  9. Keller, Wouter J., 1984. "Some simple but flexible differential consumer demand systems," Economics Letters, Elsevier, vol. 16(1-2), pages 77-82.
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Cited by:
  1. Beghin, John & Diop, Ndiame & Matthey, Holger, 2006. "Groundnut trade liberalization: Could the South help the south?," World Development, Elsevier, vol. 34(6), pages 1016-1036, June.
  2. Matthey, Holger & Diop, Ndiame & Beghin, John C. & Sewadeh, Mirvat, 2003. "The Impact Of Groundnut Trade Liberalization: Implication For The Doha Round," 2003 Annual meeting, July 27-30, Montreal, Canada 22032, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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