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The Calibration of Incomplete Demand Systems in Quantitative Analysis

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  • John C. Beghin
  • Jean-Christophe Bureau
  • Sophie Drogué

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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Bibliographic Info

Paper provided by INRA, Economie Publique in its series Working Papers with number 2003/01.

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Date of creation: 01 Jan 2003
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Handle: RePEc:apu:wpaper:2003/01

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Keywords: Exact welfare measure; Incomplete demand systems; Calibration; Policy analysis;

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References

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  1. John C. Beghin & Jean-Christophe Bureau & Sung Joon Park, 2001. "Food Security and Agricultural Protection in South Korea," Center for Agricultural and Rural Development (CARD) Publications 01-wp284, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  2. Fang, Cheng & Beghin, John C., 2002. "Urban Demand for Edible Oils and Fats in China: Evidence from Household Survey Data," Staff General Research Papers 1863, Iowa State University, Department of Economics.
  3. 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.
  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. LaFrance, Jeffrey T., 1985. "Linear demand functions in theory and practice," Journal of Economic Theory, Elsevier, vol. 37(1), pages 147-166, October.
  6. 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.
  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. Keller, Wouter J., 1984. "Some simple but flexible differential consumer demand systems," Economics Letters, Elsevier, vol. 16(1-2), pages 77-82.
  9. Selvanathan, E. Antony, 1985. "An even simpler differential demand system," Economics Letters, Elsevier, vol. 19(4), pages 343-347.
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Cited by:
  1. Beghin, John C. & Diop, Ndiame & Matthey, Holger, 2003. "Groundnut Trade Liberalization: Could the South Help the South?," Staff General Research Papers 10875, Iowa State University, Department of Economics.
  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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