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Flexible Demand Systems with Serially Correlated Errors: Fat and Oil Consumption in the United States

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  • Steven T. Yen
  • Wen S. Chern

Abstract

A flexible demand system proposed by Lewbel is used to estimate U.S. fat and oil demand from 1950 to 1986. Results suggest that the Lewbel model outperforms the Translog and AIDS and that correction for serial correlation is important. Findings also suggest that price and income effects, together with increasing public health concerns, primarily determine U.S. fat and oil demand.

Suggested Citation

  • Steven T. Yen & Wen S. Chern, 1992. "Flexible Demand Systems with Serially Correlated Errors: Fat and Oil Consumption in the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(3), pages 689-697.
    • Handle: RePEc:oup:ajagec:v:74:y:1992:i:3:p:689-697.
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    File URL: http://hdl.handle.net/10.2307/1242582
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    1. Santeramo, Fabio Gaetano & Searle, Stephanie, 2019. "Linking soy oil demand from the US Renewable Fuel Standard to palm oil expansion through an analysis on vegetable oil price elasticities," Energy Policy, Elsevier, vol. 127(C), pages 19-23.
    2. Rimal, Arbindra & Fletcher, Stanley M., 2003. "Household Snack-Food Purchases: Does Nutrition Matter?," Journal of Food Distribution Research, Food Distribution Research Society, vol. 34(2), pages 1-11, July.
    3. Jensen, Henning Tarp & Keogh-Brown, Marcus R. & Shankar, Bhavani & Aekplakorn, Wichai & Basu, Sanjay & Cuevas, Soledad & Dangour, Alan D. & Gheewala, Shabbir H. & Green, Rosemary & Joy, Edward J.M. & , 2019. "Palm oil and dietary change: Application of an integrated macroeconomic, environmental, demographic, and health modelling framework for Thailand," Food Policy, Elsevier, vol. 83(C), pages 92-103.
    4. Okrent, Abigail M. & Alston, Julian M., 2011. "Demand for Food in the United States: A Review of Literature, Evaluation of Previous Estimates, and Presentation of New Estimates of Demand," Monographs, University of California, Davis, Giannini Foundation, number 251908, December.
    5. Anastasios Xepapadeas & Hassini Habib, 1995. "An almost ideal demand system with autoregressive disturbances for dairy products in Greece," Applied Economics Letters, Taylor & Francis Journals, vol. 2(6), pages 169-173.
    6. Rimal, Arbindra & Moon, Wanki & Balasubramanian, Siva K., 2008. "Changes in Soy Based Food Consumption, 2001 and 2007," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6888, Southern Agricultural Economics Association.
    7. Chen, Shu-Ling & Chern, Wen S. & Lin, Yi-Ru & Liu, Kang Ernest, 2015. "Effects of food safety and health risk information on demand for food in Taiwan," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205452, Agricultural and Applied Economics Association.
    8. Murali Adhikari & Laxmi Paudel & Krishna Paudel & Jack Houston & James Bukenya, 2007. "Impact of low carbohydrate information on vegetable demands in the United States," Applied Economics Letters, Taylor & Francis Journals, vol. 14(13), pages 939-944.
    9. Paudel, Laxmi & Adhikari, Murali & Houston, Jack E., 2005. "Assessing the Impacts of Low Carbohydrate Related Health Information on the Market Demand for US Vegetables," 2005 Annual meeting, July 24-27, Providence, RI 19541, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Wildner, S. & Cramon-Taubadel, S.v., 2000. "Die Bedeutung von Veränderungen der Nachfrage für die Wettbewerbsfähigkeit des Agrarsektors: erste Ergebnisse einer neuen Nachfrageschätzung," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 36.
    11. Chern, Wen S. & Zuo, Jun, 2006. "Impacts of Fat and Cholesterol Information On Consumer Demand: Application of New Indexes," Working Papers 28321, Ohio State University, Department of Agricultural, Environmental and Development Economics.
    12. Hilmer, Christiana E. & Holt, Matthew T., 2005. "Estimating Indirect Production Functions with a More General Specification: An Application of the Lewbel Model," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 37(3), pages 619-634, December.
    13. Takahashi, Kohya & Maeda, Koshi, 2018. "Impacts of the TPP Agreement on Beef Demand in Japan: An Analysis by Class," Japanese Journal of Agricultural Economics (formerly Japanese Journal of Rural Economics), Agricultural Economics Society of Japan (AESJ), vol. 20.
    14. Steven S. Vickner, 2017. "Friend or PHO? On the Marginal Valuation of Reducing the Content of Trans Fat in Processed Foods," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 7(2), pages 1-2.
    15. Wang, Qingbin, 1994. "Modeling China's household food demand in the transition toward a market economy," ISU General Staff Papers 1994010108000011518, Iowa State University, Department of Economics.

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