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THE CALIBRATION OF INCOMPLETE DEMAND SYSTEMS IN QUANTITATIVE ANALYSIS AgEcon
Beghin, John C.; Bureau, Jean-Christophe; Drogue, Sophie.
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.
Tipo: Conference Paper or Presentation Palavras-chave: Calibration; Exact welfare measure; Incomplete demand systems; Policy analysis.; Demand and Price Analysis.
Ano: 2003 URL: http://purl.umn.edu/25820
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THE CALIBRATION OF INCOMPLETE DEMAND SYSTEMS IN QUANTITATIVE ANALYSIS AgEcon
Beghin, John C.; Bureau, Jean-Christophe; Drogue, Sophie.
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.
Tipo: Working or Discussion Paper Palavras-chave: Calibration; Exact welfare measure; Incomplete demand systems; Policy analysis; Demand and Price Analysis.
Ano: 2003 URL: http://purl.umn.edu/18462
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