Estimation of Income, Own- and Cross-Price Elasticities. An Application for Bulgaria

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Estimation of Income, Own- and Cross-Price Elasticities. An Application for Bulgaria

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Stavrev, Emil (CERGE-EI, Czech Republic)
Kambourov, Gueorgui (CERGE-EI, Czech Republic)

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Abstract

In this paper we estimate income elasticities and own- and cross-price elasticities for a number of categories of goods. The methodology used was proposed by Deaton (1987). Expenditure and quantity data from Household Budget Surveys for Bulgaria are used. The households are geographically separated into clusters. The prices are assumed to be the same within each of the clusters, so that the effects of income and other demographic factors on unit values are determined and the variances and covariances of the measurement errors estimated in the first stage. Then, in the second stage, the spatial price variation between the different clusters is used for the estimation of own- and cross-price elasticities for various categories of goods. We report income elasticities and own- and cross-price elasticities for eight goods.

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Paper provided by Institute for Advanced Studies in its series Transition Economics Series with number 6.

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Length: 20 pages
Date of creation: Mar 1999
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Handle: RePEc:ihs:ihstep:6

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Find related papers by JEL classification:
C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
R22 - Urban, Rural, and Regional Economics - - Household Analysis - - - Other Demand

References listed on IDEAS
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Deaton, Angus, 1990. "Price elasticities from survey data : Extensions and Indonesian results," Journal of Econometrics, Elsevier, vol. 44(3), pages 281-309, June. [Downloadable!] (restricted)
Other versions:
- Deaton, A., 1990. "Price Elasticities From Surveys Data: Extensions And Indonesian Results," Papers 69, World Bank - Living Standards Measurement.
- Deaton, A., 1988. "Price Elasticities From Survey Data: Extensions And Indonesian Results," Papers 138, Princeton, Woodrow Wilson School - Development Studies.

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Cited by:
(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.)

Stavrev, Emil & Kambourov, Gueorgui, 1999. "Share Equations versus Double Logarithmic Functions in the Estimation of Income, Own- and Cross-Price Elasticities," Transition Economics Series 7, Institute for Advanced Studies. [Downloadable!]
Yoko Niimi, 2005. "An Analysis of Household Responses to Price Shocks in Vietnam: Can Unit Values Substitute for Market Prices?," PRUS Working Papers 30, Poverty Research Unit at Sussex, University of Sussex. [Downloadable!]
Ivanova Nadezhda, 2005. "Estimation of own- and cross-price elasticities of disaggregated imported and domestic goods in Russia," EERC Working Paper Series 05-13e, EERC Research Network, Russia and CIS. [Downloadable!]

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