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- Title
World Food Demand.
- Authors
Gao, Grace
- Abstract
Long-term projections of global food demand are heavily dependent on which functional form of the food demand equation is used. Given that real incomes can change substantially over the long-term, key elements are the dependence of the income elasticity on income, which ensures that the food budget share always lies within the [0, 1] range, and the role of income inequality. This article analyzes these issues, proposes a new functional form that deals with them, and presents estimates of income and price elasticities for food in 138 countries.
- Subjects
INCOME inequality; FOOD security; FOOD conservation; FOOD consumption; FARM produce prices
- Publication
American Journal of Agricultural Economics, 2012, Vol 94, Issue 1, p25
- ISSN
0002-9092
- Publication type
Article
- DOI
10.1093/ajae/aar133