Estimation of Price Elasticities from Norwegian Household Survey Data
AbstractIn this paper, a subsystem of demand equations is estimated using data from the Norwegian survey of household expenditures 1989-1991. One objective has been to obtain substantial knowledge of Norwegian household demand for a set of food groups, with emphasis on price responses, using two different approaches, namely, the method proposed in Deaton (1990), which utilises unit values instead of market prices, and an alternative approach, which relies on market prices. Comparing the two approaches, we conclude that they produce significantly different results. Possible explanations of this finding and implications for further research are discussed.
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Bibliographic InfoPaper provided by Research Department of Statistics Norway in its series Discussion Papers with number 202.
Date of creation: Sep 1997
Date of revision:
Consumer demand; price elasticities; unit values; quality.;
Find related papers by JEL classification:
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- D1 - Microeconomics - - Household Behavior
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