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final_demand_1.1 [2020/02/19 09:36]
jschlick [Data]
final_demand_1.1 [2020/02/19 11:04] (current)
cbellora [Data]
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 ==== Data ==== ==== Data ====
  
-Utility parameters (minimal consumption level, elasticity of substitution) are calibrated using elasticities available on the [[https://​www.ers.usda.gov/​data-products/​international-food-consumption-patterns/​|website of the United States Department of Agriculture (USDA)]]. The download page gathers several files: a zip-file including elasticities (of income and of prices) for 1996 and Excel files for 2005 [(Only compensated own-price elasticity for broad consumption and unconditional own-price elasticity for food subcategories ​(marginal utility of income held constant) files are required for calibration.)]. Estimates cover 114 and 144 countries for 1996 and 2005 respectively. For details on how these elasticities are obtained, please refer to the [[https://​www.ers.usda.gov/​publications/​pub-details/?​pubid=47430|USDA documentation]]. ​+Utility parameters (minimal consumption level, elasticity of substitution) are calibrated using elasticities available on the [[https://​www.ers.usda.gov/​data-products/​international-food-consumption-patterns/​|website of the United States Department of Agriculture (USDA)]]. The download page gathers several files: a zip-file including elasticities (of income and of prices) for 1996 and Excel files for 2005. More precisely, two datasets are needed: ​(i) compensated own-price elasticity for broad consumption and (ii) unconditional own-price elasticity for food subcategories. Estimates cover 114 and 144 countries for 1996 and 2005 respectively. For details on how these elasticities are obtained, please refer to the [[https://​www.ers.usda.gov/​publications/​pub-details/?​pubid=47430|USDA documentation]]. ​
  
 LES-CES can only accommodate positive income elasticities,​ so we change all negative income elasticities to a very low value, namely 0.025. LES-CES can only accommodate positive income elasticities,​ so we change all negative income elasticities to a very low value, namely 0.025.