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Computable General Equilibrium (CGE) models are increasingly being used to project world food markets in order to support forward-looking policy analysis. Such projections hinge critically on the underlying functional form for representing consumer demand. Simple functional forms can lead to...
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Projections of world food demands hinge critically on the underlying functional form used to predict future demands. Simple functional forms can lead to unrealistic projections by failing to capture changes in income elasticities of demand as consumer becomes wealthier. This paper compares...
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This paper assesses the ability of five structural demand systems to predict demands when estimated with cross sectional data spanning countries with widely varying per capita expenditure levels. Results indicate demand systems with less restrictive income responses are superior to demand...
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