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The FAST Method: Estimating Unconditional Demand Elasticities for Processed Foods in the Presence of Fixed Effects

Jason Bergtold (), Eberechukwu Akobundu and Everett Peterson

Journal of Agricultural and Resource Economics, 2004, vol. 29, issue 2, 20

Abstract: This study estimates a set of unconditional own-price and expenditure elasticities across time for 49 processed food categories using scanner data and the FAST multi-stage demand system with fixed effects across time. Estimated own-price elasticities are generally much larger, in absolute terms, than previous estimates, while our expenditure elasticities are generally much lower. The use of disaggregated product groupings, scanner data, and the estimation of unconditional elasticities likely accounts for these differences. Results of the study suggest providing more disaggregate product-level demand elasticities could aid in the economic analysis of issues relating to industry competitiveness or the impact of public policy.

Keywords: Agribusiness (search for similar items in EconPapers)
Date: 2004
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Working Paper: THE FAST METHOD: ESTIMATING UNCONDITIONAL DEMAND ELASTICITIES FOR PROCESSED FOOD IN THE PRESENCE OF FIXED EFFECTS (2003) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:31108

DOI: 10.22004/ag.econ.31108

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