The Generalized Composite Commodity Theorem and Food Demand Estimation

Albert Reed, J. William Levedahl and Charles Hallahan

American Journal of Agricultural Economics, 2005, vol. 87, issue 1, 28-37

Abstract: This article reports tests of aggregation over consumer food products and estimates of aggregate food demand elasticities. Evidence that food demand variables follow unit root processes leads us to build on and simplify existing tests of the Generalized Composite Commodity Theorem. We compute food demand elasticities using a method of cointegration that is shown to apply to a convenient but nonlinear functional form. Estimates are based on consumer reported expenditure data rather than commercial disappearance data. Copyright 2005, Oxford University Press.

Date: 2005
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