Calibration of Incomplete Demand Systems in Quantitative Analysis, The
We introduce an easily implemented and flexible calibration technique for partial demand systems, 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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- Fang, Cheng & Beghin, John C., 2001.
"Urban Demand for Edible Oils and Fats in China. Evidence from Household Survey Data,"
2001 Conference (45th), January 23-25, 2001, Adelaide
125620, Australian Agricultural and Resource Economics Society.
- Fang, Cheng & Beghin, John C., 2002. "Urban Demand for Edible Oils and Fats in China: Evidence from Household Survey Data," Journal of Comparative Economics, Elsevier, vol. 30(4), pages 732-753, December.
- Cheng Fang & John C. Beghin, 2000. "Urban Demand for Edible Oils and Fats in China: Evidence from Household Survey Data," Food and Agricultural Policy Research Institute (FAPRI) Publications 00-wp245, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
- 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.
- Fang, Cheng & Beghin, John C., 2002. "Urban Demand for Edible Oils and Fats in China: Evidence from Household Survey Data," Staff General Research Papers 1863, Iowa State University, Department of Economics.
- 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.
- LaFrance, Jeffrey T., 1985. "Linear demand functions in theory and practice," Journal of Economic Theory, Elsevier, vol. 37(1), pages 147-166, October.
- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
- Keller, Wouter J., 1984. "Some simple but flexible differential consumer demand systems," Economics Letters, Elsevier, vol. 16(1-2), pages 77-82.
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