Aggregate Food Demand and the Supply of Agricultural Products

Food demand may be somewhat more price inelastic than previously estimated. The simple four-equation model developed here provides a formal empirical framework linking food demand to supply. Medium-range forecasts indicate that food prices may continue to rise slightly faster than average prices for all items over the next 5 years. The model represents a middle-of-the-road approach to forecasting that may be more cost-effective than time-series or a multi-equation, multicommodity approach.


Issue Date:
1981-07
Publication Type:
Report
PURL Identifier:
http://purl.umn.edu/157055
Total Pages:
24
Series Statement:
Technical Bulletin
1656




 Record created 2017-04-01, last modified 2017-08-27

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