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Calibration of Incomplete Demand Systems in Quantitative Analysis, The

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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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Paper provided by Center for Agricultural and Rural Development (CARD) at Iowa State University in its series Center for Agricultural and Rural Development (CARD) Publications with number 03-wp324.

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Date of creation: Jan 2003
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Handle: RePEc:ias:cpaper:03-wp324

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Keywords: calibration; exact welfare measure; incomplete demand systems; policy analysis.;

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  1. Fang, Cheng & Beghin, John C., 2001. "Urban Demand for Edible Oils and Fats in China. Evidence from Household Survey Data," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australian Agricultural and Resource Economics Society 125620, Australian Agricultural and Resource Economics Society.
  2. Keller, Wouter J., 1984. "Some simple but flexible differential consumer demand systems," Economics Letters, Elsevier, Elsevier, vol. 16(1-2), pages 77-82.
  3. Jeffrey T. LaFrance & W. Michael Hanemann, 1989. "The Dual Structure of Incomplete Demand Systems," Development Research Unit Working Paper Series, Monash University, Department of Economics archive-21, Monash University, Department of Economics.
  4. LaFrance, Jeffrey T., 1985. "Linear demand functions in theory and practice," Journal of Economic Theory, Elsevier, Elsevier, vol. 37(1), pages 147-166, October.
  5. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, American Economic Association, vol. 70(3), pages 312-26, June.
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Cited by:
  1. Miao, Zhen & Beghin, John C. & Jensen, Helen H., 2010. "Taxing Sweets: Sweetener Input Tax or Final Consumption Tax?," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado, Agricultural and Applied Economics Association 61511, Agricultural and Applied Economics Association.
  2. John C. Beghin & Amani Elobeid, 2013. "The Impact of the U.S. Sugar Program Redux," Food and Agricultural Policy Research Institute (FAPRI) Publications, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University 13-wp538, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
  3. Miao, Zhen & Beghin, John C. & Jensen, Helen H., 2012. "Accounting for Product Substitution in the Analysis of Food Taxes Targeting Obesity," Staff General Research Papers, Iowa State University, Department of Economics 32211, Iowa State University, Department of Economics.
  4. Tokgoz, Simla, 2004. "Can Eu Enlargement Lead To "Immiserizing Growth"? An Empirical Investigation," 2004 Annual meeting, August 1-4, Denver, CO, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 20100, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Beghin, John C. & Diop, Ndiame & Matthey, Holger, 2003. "Groundnut Trade Liberalization: Could the South Help the South?," Staff General Research Papers, Iowa State University, Department of Economics 10875, Iowa State University, Department of Economics.
  6. 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, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 22032, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  7. Toma, Luiza & Mathijs, Erik & Revoredo-Giha, Cesar, 2006. "Linkages between Agriculture, Trade and the Environment in the Context of the European Union Accession," Working Papers, Scottish Agricultural College, Land Economy Research Group 45991, Scottish Agricultural College, Land Economy Research Group.

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