A Look at Food Price Elasticities and Flexibilities

Kuo Huang

No 25572, 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia from International Association of Agricultural Economists

Abstract: The matrices of food price elasticities and flexibilities derived from a complete food demand system approach are theoretical consistent and reciprocal with each other. The statistical estimates, however, show that by using the inverted elasticities to represent flexibilities or vice versa, cause sizable measurement errors. For agricultural policy and program analyses, directly estimated food price elasticities and flexibilities should be used.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 7
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae06:25572

DOI: 10.22004/ag.econ.25572

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