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Calibration of incomplete demand systems in quantitative analysis

  • John Beghin
  • Jean-Christophe Bureau
  • Sophie Drogue

An easily implemented and flexible calibration technique for partial demand systems is introduced, 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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Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 36 (2004)
Issue (Month): 8 ()
Pages: 839-847

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Handle: RePEc:taf:applec:v:36:y:2004:i:8:p:839-847
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  1. Cheng Fang & John C. Beghin, 2000. "Urban Demand for Edible Oils and Fats in China: Evidence from Household Survey Data," Center for Agricultural and Rural Development (CARD) Publications 00-wp245, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  2. John C. Beghin & Jean-Christophe Bureau & Sung Joon Park, 2003. "Food Security and Agricultural Protection in South Korea," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 618-632.
  3. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
  4. Jeffrey T. LaFrance & W. Michael Hanemann, 1989. "The Dual Structure of Incomplete Demand Systems," Monash Economics Working Papers archive-21, Monash University, Department of Economics.
  5. LaFrance, J. T. & Beatty, T. K. M. & Pope, R. D. & Agnew, G. K., 2002. "Information theoretic measures of the income distribution in food demand," Journal of Econometrics, Elsevier, vol. 107(1-2), pages 235-257, March.
  6. Selvanathan, E. Antony, 1985. "An even simpler differential demand system," Economics Letters, Elsevier, vol. 19(4), pages 343-347.
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