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    World Food Demand

    Access Status
    Fulltext not available
    Authors
    Gao, Grace
    Date
    2012
    Type
    Journal Article
    
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    Citation
    Gao, Grace. 2012. World Food Demand. American Journal of Agricultural Economics. 94 (1): pp. 25-51.
    Source Title
    American Journal of Agricultural Economics
    DOI
    10.1093/ajae/aar133
    ISSN
    00029092
    URI
    http://hdl.handle.net/20.500.11937/11321
    Collection
    • Curtin Research Publications
    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.

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