Modelling consumption and constructing long-term baselines in final demand

Ruth Delzeit, Mun Ho, Florian Leblanc, Franziska Schuenemann and Matthias Weitzel

No 333033, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: Modelling and projecting consumption, investment and government demand by detailed commodities in CGE models poses many data and methodological challenges. In this paper we review the state of knowledge of consumption models for commodities (price and income elasticities and demographics), and review the historical trends that we should be able to explain. We then discuss the current approaches taken in various global and national models to project the trends in demand at various levels of commodity disaggregation and identification of household/income groups. We discuss the pros and cons of the various approaches to adjust parameters over time or using functions of time, and discuss possible research to improve modelling and projection. We briefly discuss the allocation of total investment and government demand to individual commodities.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 2019
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https://ageconsearch.umn.edu/record/333033/files/9191.pdf (application/pdf)

Related works:
Journal Article: Modelling Consumption and Constructing Long-Term Baselines in Final Demand (2020)
Working Paper: Modelling consumption and constructing long-term baselines in final demand (2020)
Working Paper: Modelling Consumption and Constructing Long-Term Baselines in Final Demand (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:333033

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