A few drinks behind—Alcohol price and income elasticities in Europe: A microeconometric note

This paper applies the collective household model to allocate household resources among household members. With a Collective Quadratic Almost Ideal Demand System (CQUAIDS) estimated by a Feasible Generalized Nonlinear Least Squares (FGNLS) method, it studies the household demand for six categories of household goods using household income and expenditure survey data from The Gambia, directed to studying the allocation of resources among young and adult members of households in The Gambia. It establishes the sharing rule for children and adult members of the household and shows the effect of demographic, distributive factor, price and income elasticities on the shares of household resources. The results establish that a higher share of resources goes for children while the sharing rule varies for different household types. Also, the findings show significant effects of demographic, distributive factor, price and income on the allocation of the household resources of consumption goods by the household.

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The U. S.-Canada Free Trade Agreement: Impact on the U. S. Steel Industry

The American Economist ◽

10.1177/056943459403800107 ◽

1994 ◽

Vol 38 (1) ◽

pp. 53-61 ◽

Cited By ~ 2

Author(s):

Harold R. Williams ◽

Thomas J. Botzman

Keyword(s):

Free Trade ◽

Multiple Linear Regression Model ◽

Trade Agreement ◽

Single Equation ◽

Steel Mill ◽

Iron And Steel ◽

Explanatory Variables ◽

Income Elasticities ◽

Price And Income Elasticities ◽

The Impact

This study empirically estimates the impact of the U. S.-Canada FTA on specific iron and steel exports and imports using quarterly data for the period January 1981 to December 1990. A single equation multiple linear regression model is used to quantify at the industry and industry segment levels the impact of the agreement. The dependent variables are the quantities of major steel products traded between the two nations. The explanatory variables include foreign price adjusted for the exchange rate and tariff rate, domestic price, and the industrial production index. Results include calculation of price and income elasticities, which vary considerably by industry segments. The impact of free trade, as modeled, varies widely from product to product. As such it has important implications not only for government policy and employment but also for the adjustment problems faced by both the large integrated steel mill and the minimill producers.

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Unraveling Demand for Dairy-Alternative Beverages in the United States: The Case of Soymilk

Agricultural and Resource Economics Review ◽

10.1017/s106828050000695x ◽

2014 ◽

Vol 43 (1) ◽

pp. 140-157 ◽

Cited By ~ 8

Author(s):

Senarath Dharmasena ◽

Oral Capps

Keyword(s):

United States ◽

Employment Status ◽

The United States ◽

Education Level ◽

Household Level ◽

Income Elasticities ◽

Price And Income Elasticities ◽

Race Ethnicity ◽

Targeted Marketing ◽

The U.S

Soymilk is one of the fastest growing categories in the U.S dairy alternative functional beverage market. Using household-level purchase data from Nielsen's 2008 Homescan panel and the Tobit econometric procedure, we estimate conditional and unconditional own-price, cross-price, and income elasticities for soymilk, white milk, and flavored milk. Income, age, employment status, education level, race, ethnicity, region, and presence of children in a household are significant drivers of demand for soymilk. White milk and flavored milk are competitors for soymilk, and soymilk is a competitor for white milk. Strategies for pricing and targeted marketing of soymilk are also discussed.

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Demand and supply: the price mechanism in a market economy.

An introduction to economics: concepts for students of agriculture and the rural sector ◽

10.1079/9781800620063.0003 ◽

2021 ◽

pp. 26-50

Author(s):

Berkeley Hill

Keyword(s):

Market Economy ◽

Agricultural Sector ◽

The State ◽

Price Mechanism ◽

Demand And Supply ◽

Factors Affecting ◽

Income Elasticities ◽

Price And Income Elasticities ◽

Factors Of Production ◽

Complementary Goods

Abstract This chapter discusses the theories of demand and supply, including the factors affecting the demand for commodities (the price of the commodity itself, the incomes of consumers, the price of competitive (or substitute) goods, the price of complementary goods, and the tastes of consumers) as well as the factors affecting supply (the price of the good, the prices of other goods that firms could produce or do produce, the prices of factors of production, the state of technology, and the goals/objectives of firms). The significance of the price and income elasticities of demand to the agricultural sector is highlighted.

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Dynamics of Electricity Demand in Lesotho: A Kalman Filter Approach

Studies in Business and Economics ◽

10.1515/sbe-2015-0012 ◽

2015 ◽

Vol 10 (1) ◽

pp. 130-139 ◽

Cited By ~ 3

Author(s):

Retselisitsoe Isaiah Thamae ◽

Leboli Zachia Thamae ◽

Thimothy Molefi Thamae

Keyword(s):

Kalman Filter ◽

Electricity Consumption ◽

Electricity Demand ◽

International Standards ◽

Economic Activities ◽

Electricity Prices ◽

Income Elasticities ◽

Price And Income Elasticities ◽

Long Run ◽

Filter Approach

Abstract This study provides an empirical analysis of the time-varying price and income elasticities of electricity demand in Lesotho for the period 1995-2012 using the Kalman filter approach. The results reveal that economic growth has been one of the main drivers of electricity consumption in Lesotho while electricity prices are found to play a less significant role since they are monopoly-driven and relatively low when compared to international standards. These findings imply that increases in electricity prices in Lesotho might not have a significant impact on consumption in the short-run. However, if the real electricity prices become too high over time, consumers might change their behavior and sensitivity to price and hence, energy policymakers will need to reconsider their impact in the long-run. Furthermore, several exogenous shocks seem to have affected the sensitivity of electricity demand during the period prior to regulation, which made individuals, businesses and agencies to be more sensitive to electricity costs. On the other hand, the period after regulation has been characterized by more stable and declining sensitivity of electricity demand. Therefore, factors such as regulation and changes in the country’s economic activities appear to have affected both price and income elasticities of electricity demand in Lesotho.

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Modelling international monthly tourism demand at the micro destination level with climate indicators and web-traffic data

Tourism Economics ◽

10.1177/1354816619867804 ◽

2019 ◽

Vol 26 (7) ◽

pp. 1129-1151 ◽

Cited By ~ 2

Author(s):

Silvia Emili ◽

Paolo Figini ◽

Andrea Guizzardi

Keyword(s):

Main Type ◽

Policy Intervention ◽

Traffic Data ◽

Tourism Demand ◽

Web Traffic ◽

Web Based ◽

Demand Functions ◽

Income Elasticities ◽

Price And Income Elasticities ◽

Climate Indicators

We investigate if and how climate indicators and web-traffic data may improve the estimates of demand functions’ parameters, considering specific origins and destinations. Overall, augmented demand functions show better fit and more reliable price and income elasticities whether the demand is measured with arrivals or with overnights. However, heterogeneity stemming from the main type of tourism (business vs. cultural vs. sea and sun) affects both the web-based and the climate indicators better describing tourists demand as well as their optimal lags. Our findings highlight the utility of such prompt and territorial detailed information for local policymakers, showing, however, how sensitive different demand segments are to policy intervention.

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