56 research outputs found

    Rising tensions in the natural resource markets of Pacific Asia and the role of the Russian Far East Focus on energy

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    SIGLEAvailable from British Library Document Supply Centre-DSC:80528178(8) / BLDSC - British Library Document Supply CentreGBUnited Kingdo

    The Nested PIGLOG Model: An Application to U.S. Food Demand

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    A new demand system is introduced, the Nested PIGLOG model, nesting thirteen other demand systems including five that are also new. This new model and its nested special cases are applied to models of U.S. food demand that include food-at-home (FAH), food-away-from-home (FAFH), and alcoholic beverages. Although nested tests and out-of-sample forecasting performance favor generalizing models to a certain degree, statistically insignificant improvements to in-sample-fit and even poorer out-of-sample forecast accuracy undermine further generalizations. Based on a subset of preferred models, FAFH is found to be price and income elastic compared to FAH which is price and income inelastic. Copyright 2003, Oxford University Press.
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