Calibration of incomplete demand systems in quantitative analysis
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-...
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| Veröffentlicht in: | Applied economics 2004-05, Vol.36 (8), p.839-847 |
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| container_end_page | 847 |
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| container_title | Applied economics |
| container_volume | 36 |
| creator | Beghin, John C. Bureau, Jean-Christophe Drogué, Sophie |
| description | 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. |
| doi_str_mv | 10.1080/0003684042000229550 |
| format | Article |
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| fulltext | fulltext |
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| ispartof | Applied economics, 2004-05, Vol.36 (8), p.839-847 |
| issn | 0003-6846 1466-4283 |
| language | eng |
| recordid | cdi_crossref_primary_10_1080_0003684042000229550 |
| source | RePEc; EBSCOhost Business Source Complete |
| subjects | Applied economics Calibration Consumer demand Consumption Demand Demand analysis Economics Korea Methodology Price elasticity Quantitative analysis Studies Trade liberalization Welfare |
| title | Calibration of incomplete demand systems in quantitative analysis |
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