Modelling food consumption patterns in Greece

Elias Mantzouneas, George Mergos and Chrysostomos Stoforos

Applied Economics Letters, 2004, vol. 11, issue 8, 507-512

Abstract: Modelling consumption patterns is of interest for both theoretical and policy reasons. This paper presents a methodology for modelling consumption patterns combining a theory-based with a data-based approach and it continues with an application to Greek data. The adopted AIDS-ECM quantitative methodology aims to estimate the expected trends in consumption patterns in Greece following an increase in available income over the 2001-2010 period. Three scenarios are examined: the first scenario considers the EU projections for private consumption expenditure, 3% per annum, the second scenario assumes a higher growth of 5% per annum and the third scenario a 1% increase. The results of the first stage expenditure aggregation show a decrease in the budget share for the food group in all scenarios under consideration while the opposite is true for 'transportation and communication' and 'others'. Finally, the second stage expenditure aggregation estimates show an increase in the budget share for meat, fruits and vegetables and oils and fats, while the opposite is true for bread and cereals and other food.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:11:y:2004:i:8:p:507-512

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DOI: 10.1080/1350485042000244549

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