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| Seale, James L., Jr.; Regmi, Anita; Bernstein, Jason. |
| The analysis presented here suggests that low-, middle-, and high-income countries all respond differently to changes in income and food prices and, furthermore that low-income countries are more responsive than high-income countries to such changes. These conclusions are based on a two-stage, cross-country demand system fit to the 1996 International Comparison Project (ICP) data for nine broad categories and eight food sub-categories of goods across 114 countries. The broad consumption groups include: food, beverage, and tobacco; clothing and footwear; education; gross rent, fuel, and power; house furnishings and operations; medical care; recreation; transport and communications; and other items. The food sub-groups include bread and cereals, meat, fish,... |
| Tipo: Report |
Palavras-chave: Consumption; Cross-country demand; Complete demand system; Food demand; Elasticity; Heteroskedasticity; Maximum likelihood; Food Consumption/Nutrition/Food Safety. |
| Ano: 2003 |
URL: http://purl.umn.edu/33580 |
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| Clements, Kenneth W.; Qiang, Ye. |
| Henri Theil devoted a good deal of the last two decades of his professional activities to the analysis of international consumption patterns. This paper commences with a review of Theil’s path-breaking research on cross-country demand, and then investigates in some detail two important issues: (i) the extent to which differences in incomes and prices explain international consumption pattern; and (ii) new empirical evidence regarding the extent to which tastes are similar internationally. The paper also contains an evaluation of another important building block of Theil’s work in this area, that of the assumption of preference independence, whereby there are no interactions between goods in the utility function. |
| Tipo: Journal Article |
Palavras-chave: Cross-country demand; Preference independence; System-wide approach. |
| Ano: 2003 |
URL: http://purl.umn.edu/43272 |
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| Chen, Dongling; Seale, James L., Jr.. |
| We fit the Florida Model with an AR(1) error structure to pooled cross-country International Comparison Project (ICP) data of Seale, Walker, and Kim and estimate the model with the minimum information (MI) estimator. Point estimates obtained by MI are similar in value to those obtained by Seale, Walker, and Kim with maximum likelihood (ML). Two similar simulations but with different sample sizes are conducted to compare the relative efficiencies of MI and ML with known and unknown (MLU) covariances. In the larger sample, the MLU is more efficient in terms of root-mean-squared errors (RMSEs) than the MI. Noteworthy, in the small sample, the MI is more efficient in terms of RMSEs than MLU, even though MLU explicitly accounts for AR(1), whereas the MI... |
| Tipo: Journal Article |
Palavras-chave: Autocorrelation; Cross-country demand; Maximum likelihood; Minimum information; Pooled data. |
| Ano: 2003 |
URL: http://purl.umn.edu/43294 |
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