The demand for food in the US and the Netherlands: A systems approach with the CBS model

The demand for food in the US and the Netherlands in the period 1929-1988 is analyzed, using a differential consumer demand system, the CBS model, and the results are compared with those of Tobin. For the US, an income elasticity of 0.75 was found, both in budget-survey data and time-series data, wh...

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Bibliographic Details
Published in:Journal of applied econometrics (Chichester, England) England), 1997-09, Vol.12 (5), p.509
Main Authors: Van Driel, Hans, Nadall, Venuta, Zeelenberg, Kees
Format: Article
Language:English
Subjects:
Demand
Econometrics
Economic models
Food
Price elasticity
Studies
Time series
Online Access:Get full text
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Summary:The demand for food in the US and the Netherlands in the period 1929-1988 is analyzed, using a differential consumer demand system, the CBS model, and the results are compared with those of Tobin. For the US, an income elasticity of 0.75 was found, both in budget-survey data and time-series data, which is higher than those found by Tobin, and an own-price elasticity of -0.45. For the Netherlands, an income elasticity of 0.35 in time-series data was obtained, and 0.65 in individual budget-survey data and an own-price elasticity of about -0.20. Assessments of the study are presented.
ISSN:0883-7252
1099-1255