El gasto y las elasticidades del consumo de alimentos en Venezuela (período 2019-2023)

Changes in consumption patterns have important implications for macroeconomic policies, especially those related to trade, income distribution, and economic growth. This paper estimates the elasticities of household demand for food in Venezuela. Based on data collected in the consumption module of the Living Conditions Survey (ENCOVI 2023), a linear version of the Almost Ideal Demand System (AIDS) model is estimated for five types of households classified according to income and considering fourteen types of food goods. The model's results allowed us to estimate the elasticities of demand with respect to total food expenditure, the uncompensated and compensated price itself, and the prices of related goods, or cross-elasticities. In general, the results obtained are consistent with demand studies conducted in countries with comparable income levels. All the commodity groups considered behave as normal goods with respect to expenditure changes and exhibit price inelasticity. We also observe a decline in income–expenditure elasticities as household income rises, with lower-income households displaying greater sensitivity to price variations. The strong degree of complementarity identified among commodity groups is likely related to the level of data aggregation, suggesting that this issue warrants more detailed examination in future research. Another aspect requiring further attention is the impact of in-kind food subsidy programs, which have become increasingly significant in Venezuela, particularly for lower-income households.