Relevant bibliographies by topics / Income-elasticity of demand

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Academic literature on the topic 'Income-elasticity of demand'

Author: Grafiati
Published: 4 June 2021
Last updated: 1 February 2022

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Journal articles on the topic "Income-elasticity of demand"

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Syrovátka, P. "Income elasticity of demand within individual consumer groups and the level of income elasticity of the entire market demand ." Agricultural Economics (Zemědělská ekonomika) 52, No. 9 (February 17, 2012): 412–17. http://dx.doi.org/10.17221/5044-agricecon.

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The paper is focused on the derivation of the mathematical relationship among the income-elasticity level of the entire market demand and the income-elasticity values of the demand functions of the consumers’ groups buying on the defined market. The determination of the mathematical term was based on the linearity of the relevant demand functions. Under the linearity assumption, the income elasticity coefficient of the entire market demand equals the weighted sum of the income-demand elasticities of the differentiated consumer groups buying on the given market. The weights in the aggregation formula are defined as the related demand shares, i.e. as the proportions of the groups’ demands to the entire market demand. The derived aggregation equation is quite held if no demand interactions (e.g. the snob or fashion effect) are recorded among differentiated consumers’ groups. The derived formula was examined by using empirical data about the consumer behaviour of Czech households in the market of meat and meat products (Czech Statistical Office). However, the application potential of the achieved term for the income-elasticity aggregations is much broader within the consumer-behaviour analysis. In addition to the subject aggregations of the demand functions, we can also apply the derived formula for the analysis and estimations of the income elasticities within the demand-object aggregations, i.e. the multistage analysis of the income elasticity of consumer demand. Another possibility of the use of the aggregation equation is for the evaluations and estimations of the income elasticity of the region-demand functions in relation to the subregions’ demands or reversely.
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Ibragimov, Marat, and Rustam Ibragimov. "Market Demand Elasticity and Income Inequality." Economic Theory 32, no. 3 (May 20, 2006): 579–87. http://dx.doi.org/10.1007/s00199-006-0125-3.

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Syrovátka, Pavel. "Income elasticity of Czechs' household demand for meat and meat products: autoregressive model." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 56, no. 6 (2008): 149–56. http://dx.doi.org/10.11118/actaun200856060149.

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The paper is focused on the wider concept of the income-elasticity analysis within of the average Czechs' household demand for the meat and meat products including demand for fish and fish products. Within the investigated consumer demand, the levels of current income elasticity, dynamic income elasticity, long-term income elasticity, long-equilibrium income elasticity were evaluated. Realised demand analysis was based on the autoregressive log-linear model of Engel's curve: lnqt = −11.9878 + 1.4733lnxt + 0.1917lnqt−1 + vt, which was estimated by using the CZSO-HS data from 1995 to 2000. Developed Engel model of the quarterly demand was statistically significant (F-test, t-tests, DW-test). According to this autoregressive log-linear Engel's model, the level of the current income elasticity of the average Czechs' household demand for the meat and meat products was 1.4733. The dynamic income elasticity with quarterly lag achieved the value of 0.2825. Half-yearly dynamic income elasticity of the average Czechs' household demand for the meat and meat products obtained the value of 5.4186 · 10−2. The level of year dynamic income elasticity of examined consumer demand was 1.9915 · 10−3. In observed years (1995–2000), the applied Engel's model simulated the depression of the level of dynamic income elasticity of the average Czechs' household demand for the meat and meat products. By using the estimated autoregressive log-linear model of Engel's curve, the log-term income elasticity was studied too. Half-yearly income elasticity of the examined consumer demand achieved the value of 1.7558. The level of year income elasticity of the demand was 1.8204. The value of long-term income elasticity of the average Czechs' household demand for the meat and meat products tends to 1.8228. The determined value implies the long-equilibrium income elasticity of this consumer demand.
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Syrovátka, P. "Income elasticity of food expenditures of the average Czech household." Agricultural Economics (Zemědělská ekonomika) 50, No. 7 (February 24, 2012): 309–16. http://dx.doi.org/10.17221/5208-agricecon.

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The paper was focused on the quantitative research of the income elasticity in the field of the food expenditures within the consumer bundle of the average Czech household between 1995 and 2002. The quantitative analysis of the elasticity was based on the system of the nine one-equation regression models of the demands. Because of the time dimension of the used CZO databases, the partial equations of the demand system were developed in the explicit dynamic form. For the elimination of the price changes in the research of the income-elasticity, the real levels of the expenditures and the incomes were calculated. With respect to instant and easy interpretation of the results, the linear relationships between fixed base coefficients of percent growths of the household incomes and expenditures were used in the developed system of demand models. Thus, the income elasticity was determined by means of the value of b regression parameters. The achieved estimations of the studied income-expenditure elasticity were adjusted, so that Engel aggregation condition was kept. The paper contains the suggestion of the some methodological principles for the coefficient adjusting. The statistical diagnostics was involved in the quantitative part of the elasticity research. There was used the evaluation of determination coefficients, its F-tests, and T-tests of the relevant parameters (b regression parameters).
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Hupková, D., P. Bielik, and N. Turčeková. "Structural changes in the beef meat demand in Slovakia and demand elasticity estimation." Agricultural Economics (Zemědělská ekonomika) 55, No. 8 (August 23, 2009): 361–67. http://dx.doi.org/10.17221/41/2009-agricecon.

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The article focuses on assessing the consumer habits attitudes and behaviour towards the beef meat demand. The main objective of this study is to investigate the determinants of the households’ beef meat consumption using the main economic factors. Determining and analysis of consumer behaviour on the individual household categories level and the subsequent comparison of impact factors on consumer decision will give us an assumption to the complex understanding of the consumer behaviour determinants. We used panel data to estimate the beef meat demand in Slovakia. The data were obtained from the Household Budget Survey of the Slovak Statistical Office. The estimates of price and income elasticities of the beef meat demand are also obtained. The results indicate that the food patterns development in Slovakia during the past two decades has undergone rapid structural changes. The declining beef meat consumption is influenced mainly by the decreasing purchasing power and the occurrence of the BSE disease. According to the elasticity estimation results, we can state that the beef meat demand is price and income inelastic. Key words: beef meat consumption, households’ consumption, price elasticity, income elasticity. BSE disease
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Delis, Manthos D., Iftekhar Hasan, and Chris Tsoumas. "The income elasticity of mortgage loan demand." Financial Markets, Institutions & Instruments 28, no. 2 (February 27, 2019): 115–39. http://dx.doi.org/10.1111/fmii.12108.

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McCONNELL, KENNETH E. "Income and the demand for environmental quality." Environment and Development Economics 2, no. 4 (July 1997): 383–99. http://dx.doi.org/10.1017/s1355770x9700020x.

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The environmental Kuznets curve (EKC) is an empirical regularity showing how some pollutants increase and then decrease with rising per capita incomes. Popular discussions and models of the EKC emphasize the role of the income elasticity of demand for environmental quality as a driving force for the inverted U-shaped relationship between income and pollutants. This paper explores the role of the income elasticity of demand for environmental quality by decomposing the reduced-form effect of income on pollution, showing that preferences consistent with a positive income elasticity of demand for environmental quality are neither necessary nor sufficient for the EKC. Increasing pollution may occur with increasing income but preferences that would imply a high income elasticity of demand for environmental quality, and decreasing pollution may occur simultaneous with preferences that put lower values on pollution reduction as incomes rise.
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Havranek, Tomas, and Ondrej Kokes. "Income elasticity of gasoline demand: A meta-analysis." Energy Economics 47 (January 2015): 77–86. http://dx.doi.org/10.1016/j.eneco.2014.11.004.

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Kusumaningrum, Stranti Nastiti. "The Sensitivity of Residential Electricity Demand in Indonesia." Signifikan: Jurnal Ilmu Ekonomi 7, no. 2 (March 25, 2018): 247–66. http://dx.doi.org/10.15408/sjie.v7i2.6048.

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Since 2013, the residential electricity price for High VA (Volt-Ampere) households has changed due to changes in pricing policies. This paper analyzes the responsiveness of residential electricity demand to the change in electricity prices and income among two different household groups (Low VA and High VA) in 2011 and 2014. Using an electricity consumption model and the Quantile Regression method, the results show that residential electricity demand is price and income inelastic. Income elasticity is lower than price elasticity. Furthermore, the effects on price elasticity also found in the Low VA group, whose rate remained stable. At the same time, evidence proves the impact of the change in pricing policy on income elasticity remains unclear. This result implies that the government has to be more careful in regulating electricity prices for the low VA group, while maintaining economic stability.DOI: 10.15408/sjie.v7i2.6048
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Bielik, P., and Z. Šajbidorová. "Elasticity of consumer demand on pork meat in the Slovak Republic." Agricultural Economics (Zemědělská ekonomika) 55, No. 1 (February 11, 2009): 12–19. http://dx.doi.org/10.17221/2502-agricecon.

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Consumers are the starting point of the final product market vertical line. Their demand is a crucial factor in the decisions about production – what to produce, how much, and what way. The aim of this paper is to provide the analysis of the elasticity of the consumer demand on pork, based on the influence of the change of the determinants influencing the demand on the consumer level of the vertical product line, and subsequent evaluation of the character and intensiveness of the consumer demand elasticities. The evaluation is founded on the determined coefficients for the individual elasticities of consumer demand on the selected commodity. The analysis of the elasticity of the consumer demand on pork is based on a five-factor model of the consumer demand on pork. It was estimated and qualified by the microeconomic theory for estimation and interpretation of individual elasticity coefficients and regression analysis. Furthermore, our attention is focused on determination and interpretation of the coefficients of direct price elasticity of demand, cross-price elasticity of demand, and income elasticity of demand. The value of the price elasticity of demand on pork is 0.770937. As an increase in the buyers’ income evokes an increase in demand, it can be stated that pork meat is a superior good for the Slovak inhabitants. Cross-price elasticity of demand between pork and poultry is 0.617363, and between pork and beef it is 0.343435. As the value is positive, pork, poultry, and beef are substitute goods for the consumers. During the studied period, the demand on pork was quarterly decreasing by 0.05162% in average. On the basis of the results received from the analysis of the elasticities of the demand on the consumer level of the studied product vertical line, it can be stated that Slovak consumers of pork meat react more responsively to the change of income than to the change of the price of this good.
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Dissertations / Theses on the topic "Income-elasticity of demand"

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Kamkwamba, Dasford D. "Analysis of price and income elasticity of demand for fuel products in Malawi." Thesis, Stellenbosch : University of Stellenbosch, 2009. http://hdl.handle.net/10019.1/14901.

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Thesis (MBA)--University of Stellenbosch, 2009.
ENGLISH ABSTRACT: This paper examines the price and income elasticity of demand for fuel products in Malawi. The data have been disaggregated into various sectors, agriculture, industry, construction, commercial transport, private motor vehicles and household, in order to fully understand the nature and magnitude of elasticity for each sector. Two methods were used - the simple economic method and the correlation coefficient method. This research covers a period of 10 years from 1995 to 2004. This period has been chosen in order to arrive at meaningful conclusions. The results show that each sector responds to price and income changes differently. The agricultural sector has been found to be inelastic to both price and income both in the short and long term. This sector, however, is sensitive to other factors like drought and currency depreciation. The industrial sector has been found to be very sensitive to both price and income changes both in the short and long term. The same trend has also been established for the construction sector and the commercial transport sector. In the private motor vehicle sector, petrol-powered private motor vehicles have been found to be inelastic to price as well as income both in the short and long term. The reason for this is lack of affordable alternative forms of transport. Tests for diesel-powered vehicles show very elastic results. The demand data may have been distorted by the fact that diesel demand for other equipment than vehicles could not be identified and it has been assumed that diesel bought at filling stations or reseller points is used by vehicles. There is evidence that diesel is also used for maize mills and generators. The household sector has been seen to be very sensitive to price and income changes. The reason for this is availability of substitutes such as charcoal, firewood and other forms of biomass fuel that are extensively used in rural areas. Income sensitivity is purely due to the fact that people in rural areas earn low income. The conclusions for the household sector are that first the government should remove the paraffin subsidy as it is not achieving its intended results. Secondly, the government should establish basic wages and also offer better prices to the subsistence sector.
AFRIKAANSE OPSOMMING: Hierdie proefskrif ondersoek die elastisiteit van prys en inkomste in die aanvraag na brandtstofprodukte in Malawi. Om die aard en omvang van die elastisiteit in elke sektor ten volle te verstaan, is die data gedesegregeer in verskeie sektore, naamlik landbou, nywerheid, die boubedryf, handelsvervoer, privaat motorvoertuie en die huishoudelike sektor. Twee metodes is gebruik: die eenvoudige ekonomiese metode en die korrelasie-koeffisient-metode. Hierdie navorsing beslaan 'n tydperk van tien jaar vanaf 1995 tot 2004. Die tydperk is gekies om sodoende betekenisvolle gevolgtrekkings te kan maak. Die resultate dui aan dat die sektore verskillend op veranderings in prys en inkomste reageer. Daar is bevind dat die landbousektor glad nie elasties is nie wat betref prys sowel as inkomste, sowel op die kort- as langtermyn. Hierdie sektor is egter sensitief vir ander faktore soos droogte en die depresiasie van die geldeenheid. Daar is bevind dat die nywerheidsektor baie sensitief is vir prys-, sowel as inkomsteveranderings op die kort- en langtermyn. Dieselfde neiging is bevind vir die bousektor en die handelsvervoersektor. In die privaat motorsektor is bevind dat petrolaangedrewe motors nie elasties is nie wat betref prys sowel as inkomste op die kort- sowel as langtermyn. Die rede hiervoor is die gebrek aan bekostigbare alternatiewe vervoermiddels. Toetse vir dieselaangedrewe motorvoertuie dui uiters elastiese resultate aan. Die data wat betref aanvraag kon moontlik verkeerd voorgestel word as gevolg daarvan dat die dieselaanvraag vir ander toerusting as voertuig nie geidentifiseer word nie. Daar is veronderstel dat diesel wat by vulstasies en herverkooppunte gekoop is, vir voertuie gebruik is. Daar is bewyse dat diesel ook vir mieliemeule en kragopwekkers gebruik word.
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Dubihlela, Dorah. "An analysis of the poor's demand patterns during rising prices : the case of Bophelong / Dorah Dubihlela." Thesis, North-West University, 2012. http://hdl.handle.net/10394/10120.

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This study investigated the demand patterns of poor households during a period of rising prices. Focus was on three main constructs namely the poor, rising prices and the demand patterns. The study was on Bophelong, a township in South Africa. This study was conducted from an empirical, quantitative approach which was preceded by a literature review. The main objective of conducting the literature review was to provide a theoretical framework for questionnaire design and empirical work. Cross sectional data was collected at Bophelong households. On completion of the survey, the poor were selected from the non-poor by means of a poverty line. The poor were further divided into two categories, namely moderately poor and the very poor. Moderately poor households were categorised by an income ranging 50% to 99% inclusively of their household poverty line. The very poor households were categorised by an income in the range of 0 to 49% inclusively of their poverty line. Using the above division, the total poverty rate was 56% of the total sample, 26% being moderately poor and 30% very poor. The poverty gap ratio for all the poor in the sample was 0.48, meaning that on average, the poor needed 48% of their current income to reach their poverty line. This ratio was 0.29 for the moderately poor households and 0.69 for the very poor households. A logistic regression done on the determinants of poverty in Bophelong showed that household size, age of the household head, monthly household income and the employment status of the household head were significant in determining poverty. The monthly average household income in Bophelong was R2 910. For the moderately poor households it was R1 641 for the and R932 for the very poor households. Household size was 3.96 for the whole sample size, 2.97 for the non-poor households, 4.2 for the moderately poor households and 4.7 for the very poor households. The study revealed that demand patterns of the poor differ from those of the non-poor. In addition the moderately poor households‟ demand patterns differ from the very poor An analysis of the poor‟s demand patterns during rising prices: the case of Bophelong household. The greatest part of income of the poor is spent on basic food stuffs. The very poor spent more than half of their income (53%) on food. The study indicated that bread is a giffen good only to the very poor households where quantity demanded moves in the same direction with price. In the non-poor households, bread is regarded inferior. A commodity can be overly a necessity, but the degree of necessity differs with a households‟ economic status. In some cases, a commodity was a necessity in the very poor households but a luxury in the non-poor. The way households substitute one good for another depends on their income levels. In conclusion, the study recommends that for poverty alleviation policies to effectively target the very poor in reducing malnutrition and hunger, these very poor should be studied separetely from the poor households. This is because households of different poverty levels face different challenges. A more detailed and deeper study relating to the demand structure of the poor is recommended. There is also a need to explore the survival means of the poor as to direct policy actions aimed at alleviating poverty among the poor in general.
Thesis (PhD (Economics))--North-West University, Vaal Triangle Campus, 2013
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Maniar, Megha. "The Great Indian Affordable Housing Crisis: Determining the Price and Income Elasticities of Urban Rental Housing Demand." Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/cmc_theses/328.

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The Indian urban rental market is complex and yet ever-changing, with the ups and downs of housing demand playing a fundamental role in the affordability and stability of the market. This paper determines the income and price elasticities of demand using the demand function and Slutsky equation, respectively, for the urban rental market in order to help craft suitable national housing policy. Through this analysis, it is determined that the urban rental price elasticity of demand is -0.93 and the income elasticity is 0.81, suggesting that rental price subsidies and private income taxes are the most effective policy measures to ensure affordability in urban India.
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Eriksson, Liselotte. "The Making of the Swedish Life Insurance Market 1855-1914." Licentiate thesis, Umeå University, Department of Economic History, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-19951.

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This licentiate thesis examines the development of the life insurance industry during the period 1855-1914. The aim with the study is to recognise dimensions not frequently addressed by previous research on the insurance industry, namely the impact of social dimensions, including the implicit and explicit economic importance of social movements and the diffusion of knowledge in society at large for the development of the life insurance industry. The study shows that income and price had limited importance in explaining the demand for life insurance before the 20th century and that this can be attributed to a lack of sufficient knowledge regarding financial issues and to a far too high access cost in acquiring a life insurance for a large part of society. The development of the life insurance industry must therefore be understood through improved knowledge both on the part of the life insurance companies and on part of the consumers. The licentiate further shows how diffusion of knowledge throughout society also was due to a diffusion of democratic ideas and the rise of social movements, movements that life insurance actors were a part of. These actions helped open up the financial market for the masses and probably also strengthened the trust towards the industry. It is however hard to dismiss the life insurance actors’ engagement in women’s movement as a cover-up for other disguised motives not so honourable, while a direct economic gain for the life insurance industry is hard to establish.

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Claro, Rafael Moreira. "Influência da renda e preço dos alimentos sobre a participação de frutas, legumes e verduras no consumo alimentar das famílias do município de São Paulo." Universidade de São Paulo, 2006. http://www.teses.usp.br/teses/disponiveis/6/6133/tde-31082007-100057/.

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Objetivo. Analisar a influência da renda e dos preços dos alimentos sobre a participação de frutas, legumes e verduras no consumo alimentar das famílias residentes no município de São Paulo. Métodos. A Pesquisa de Orçamentos Familiares (POF) da Fundação Instituto de Pesquisas Econômicas (FIPE), realizada entre 1998/1999 no município de São Paulo, serviu de base para este estudo. O padrão alimentar das famílias foi descrito a partir da participação relativa de 18 grupos de alimentos no total mensal de calorias adquirido pela família para consumo no domicilio. A influência da renda familiar e do preço dos alimentos sobre a participação de frutas, legumes e verduras (FLV) no padrão alimentar foi estudada empregando-se técnicas de análise de regressão múltipla (modelo log-log) para estimação de coeficientes de elasticidade-preço e elasticidade-renda. Resultados. Identificou-se efeito estatísticamente significante da renda familiar (efeito positivo), do preço das próprias frutas, legumes e verduras (efeito negativo) e do preço do conjunto dos demais alimentos (efeito positivo). A comparação da magnitude desses efeitos, feita pela comparação dos coeficientes de elasticidade, indica maior efeito do preço das frutas, legumes e verduras (1% de aumento no preço das FLV reduziria em 0,2% a participação desses alimentos no total calórico), efeito intermediário do preço dos demais alimentos (1% de aumento aumentaria em 0,07% a participação de FLV no total calórico) e efeito menor da renda familiar (1% de aumento na renda familiar aumentaria em 0,04% a participação de FLV no total calórico). O efeito da renda familiar e do preço das frutas, legumes e verduras sobre o consumo relativo desses alimentos foi semelhante nos vários estratos de renda enquanto o efeito dos preços dos demais alimentos tendeu a diminuir nos estratos de maior renda. Conclusão. Políticas públicas que levassem à redução do preço de frutas, legumes e verduras seriam as mais recomendadas para aumentar o consumo desses alimentos no município de São Paulo e em realidades urbanas semelhantes.
Objective. Analyze the influence of income and food prices on fruits and vegetables share of household food consumption in São Paulo city. Methods. The data obtained through Family Budget Survey (POF) from Fundacao Instituto de Pesquisas Economicas (FIPE), concerning the population of the city of Sao Paulo during the period of 1998 and 1999, was the base in this study. The household nutritional patterns were described by means of the relative participation of 18 food groups in total calories monthly acquired for home consumption. Income and food prices? influence on fruits and vegetables share was assessed through the use of multiple regression analysis techniques (Log-Log model) in order to estimate income elasticity and price elasticity coefficients. Results. Statistically significant effects of income (positive effect), fruits and vegetables prices (negative effect) and other foods prices (positive effect) were identified. Magnitude comparison among the effects observed, through comparison of elasticity coefficients, indicates a major effect from fruits and vegetables price (1% increase in prices results in a 0.2% reduction in the share of fruits and vegetables), an intermediate effect from other foods prices (1% increase in prices results in a 0.07% increase in the share of fruits and vegetables) and a smaller effect from income (1% raise in household income would achieve a 0.04% increase in the share of fruits and vegetables). The effect of household income and F&V price was similar in different income classes, while the effect of other food prices declined in higher income classes Conclusion. Public policies for reducing fruit and vegetables? prices should be the most recommended line of action in order to obtain an increase in fruit and vegetables? consumption in Sao Paulo city or any other similar urban centers.
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Atallah, Tarek. "Measuring the Transition toward Less Energy Intensive Economies : modeling Solutions for the Demand-Side." Thesis, Paris Sciences et Lettres (ComUE), 2016. http://www.theses.fr/2016PSLED024.

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Le monde est actuellement confronté à une transition du marché de l'énergie qui est influencée notamment par la dynamique de la croissance économique globale, les négociations relatives aux changements climatiques et des prix de plus en plus volatils. Cette évolution rapide des réglementations et de la macro-économie transformera les conditions de la demande d'énergie, obligeant les gouvernements à acquérir un ensemble croissant d'outils quantitatifs pour mieux évaluer les résultats de leurs politiques fiscales. Cette thèse aborde cette problématique en analysant, par une approche basée sur les élasticités, les différentes facettes de la demande d'énergie dans le but d'achever une consommation énergétique durable. Cette approche est complémentée par l'analyse par grappes, la décomposition structurelle ainsi que par diverses outils économétriques appliques conjointement à l'échelle mondiale et nationale. Une attention particulière est faite sur la modélisation de la demande des marchés subsidiés notamment des pays du Conseil de Coopération du Golfe Arabique
The world is currently witnessing a transition in the energy scene that is significantly characterized by global economic growth dynamics, climate change negotiations and volatile energy prices. Rapidly evolving regulatory and macro-economic environments heavily impact on the demand-side of energy, forcing governments to acquire an ever-increasing set of quantitative tools to better assess the results of their taxation policies.This thesis addresses some of these issues by analyzing various facets of energy demand in order to generate sensible demand and price elasticities with real-life applications in sustainable energy management. For that purpose, a combination of cluster, decomposition and multiple econometric analysis is undertaken at global, regional and country-specific levels for households complemented by a policy analysis. A special focus is made on modeling consumer demand behavior for resource-rich economies of the Gulf Cooperation Countries, and the potential impact of removing residential electricity subsidies on the net societal welfare of Saudi Arabia
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Michelitsch, Roland. "Do terms of trade have to worsen for developing countries? How low-income elasticity of demand affects the terms of trade in a laboratory market, in combination with the effect of market power." Diss., The University of Arizona, 1993. http://hdl.handle.net/10150/186255.

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A laboratory economy was created to test the influence of both market power and low income elasticity of demand on the terms of trade. The Prebisch-Singer "Theory of Unequal Exchange" predicts that terms of trade worsen for developing countries, due to low income elasticity of demand for their primary product exports. A model is presented to show that, ceteris paribus, the terms of trade improve with population growth and differential technological progress. The effect of market power on the terms of trade was analyzed by comparing a 'competitive' market, a primary commodity cartel, and an industrial monopoly. The competitive (price taker) model predicts declining prices in both markets and worsening terms of trade as production grows. The cartel model predicts higher prices of the primary product, which increase as income grows, lower prices of the manufactured product, and better and improving terms of trade. The monopoly model predicts lower prices for primary commodities, higher and increasing prices in the market for manufactured products, and lower and worsening terms of trade. Experimental results. Trading occurred in a multiple-unit double auction. Prices usually converge from above in both markets. Only sellers succeed in exploiting their market power, buyers fail to do so. In the competitive design, prices in both markets generally converge to the competitive equilibrium. The terms of trade worsen in all experiments as income grows (caused by the low income elasticity of demand), confirming the prediction of the Prebisch-Singer model. The commodity cartels increase primary export prices, but cannot stop the decline of prices when income increases. They cannot decrease prices of the manufactured product. Terms of trade for the cartels are usually better and do not always worsen. Earnings of industrialized countries facing the cartel are lower than competitive, but earnings of the cartel members are not significantly higher. The single industrial country fails to lower prices for primary products, but can charge higher prices for manufactured products. Terms of trade usually improve as income grows, contradicting both the competitive and the cartel model. When the monopoly faces a cartel, a substantial deadweight loss occurs.
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Nappo, Márcio. "A demanda por gasolina no Brasil: uma avaliação de suas elasticidades após a introdução dos carros bicombustíveis." reponame:Repositório Institucional do FGV, 2007. http://hdl.handle.net/10438/2069.

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A questão central que buscou-se responder no presente estudo foi: qual o impacto dos veículos flex-fuel sobre a demanda por gasolina no Brasil? Para tentar responder esta questão foi estimada a função demanda por gasolina no Brasil e suas elasticidades-preço e renda, para o período de agosto de 1994 a julho de 2006 (era pós-Plano Real), utilizando-se técnicas de cointegração para avaliar a existência de uma relação de equilíbrio de longo prazo entre variáveis do modelo. Com a renovação da frota automotiva, centrada cada vez mais nos veículos flex-fuel, cuja participação nas vendas nacionais de veículos novos deve ultrapassar os 70% em 2006, surge a preocupação de que o deslocamento do consumo de gasolina pelo álcool hidratado leve a excedentes crescentes de gasolina no Brasil. Os resultados obtidos neste estudo indicam que a demanda por gasolina no Brasil é inelástica no longo prazo, tanto em relação a variações nos preços deste combustível, quanto a alterações na renda dos consumidores. Os valores estimados para as elasticidades-preço e renda de longo prazo foram de -0,197 e 0,685, respectivamente. Também foi estimado o coeficiente de uma variável binária de inclinação associada ao preço da gasolina, incluída no modelo com o objetivo de capturar os impactos da entrada do flex-fuel sobre a curva de demanda por gasolina a partir de março de 2003. Esta variável binária de inclinação apresentou-se com um coeficiente de aproximadamente -0,137. Isto significa que a partir de março de 2003 há uma significativa mudança na elasticidade-preço da demanda por gasolina, que se torna mais elástica, saindo de -0,197 para -0,334. Este resultado indica que o mercado nacional de combustíveis de ciclo Otto pode estar passando por mudanças estruturais, para as quais a entrada dos veículos flex-fuel é a causa mais provável e que o álcool hidratado tem se tornado um substituto menos imperfeito da gasolina.
The central question that this study seeks to answer is: What is the impact of flex-fuel vehicles on the demand for gasoline in Brazil? To attempt to answer this question, the function demand for gasoline in Brazil was estimated, as were the price and income elasticities, for the period August 1994 through July 2006 (post Plano Real era), using cointegration techniques to evaluate the existence of a long-term balance relationship between the model’s variables. With the renewal of the automotive fleet increasingly centered on flex-fuel vehicles, whose market share in the domestic sales of new vehicles should be over 70% in 2006, there is some concern that the shift from consumption of gasoline to hydrated alcohol may lead to a growing excess of gasoline in Brazil. The results obtained in this study indicate that the demand for gasoline in Brazil is inelastic in the long term, in relation both to the price variations of this fuel and to the alterations in consumer income. The amounts estimated for the price and long-term income elasticities were –0.197 and 0.685, respectively. An estimate was made of the coefficient of a dummy inclination variable, associated with the price of gasoline and included in the model to capture the impact flex-fuel has on the gasoline demand curve, starting in March 2003. This dummy inclination variable had a coefficient of approximately –0.137, meaning that, as of March 2003, there is a significant change in the price elasticity of the demand for gasoline, which becomes more elastic, going from –0.197 to –0.334. This result indicates that the Otto cycle’s national fuel market might be facing structural changes in which the launching of flexfuel vehicles is the most likely cause and that hydrated alcohol has become a less imperfect substitute for gasoline.
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Cabral, Renata Fonseca. "Estimativa econométrica das elasticidades renda e preço da demanda por gás natural para o setor industrial brasileiro." Universidade de São Paulo, 2013. http://www.teses.usp.br/teses/disponiveis/86/86131/tde-05062014-222010/.

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Este trabalho tem como objetivo estimar a elasticidade renda e preço da demanda por gás natural no Brasil para o setor industrial brasileiro. O segmento de consumo industrial representa cerca de dois terços do consumo de gás natural no país, destacando sua importância estratégica na elaboração de política energética relacionada ao gás. Este trabalho apresenta também o incremento nas trocas internacionais de gás natural e a perspectiva de aumento do uso desse energético no Brasil e no mundo. Alguns desafios ainda se colocam para a efetiva globalização dessa indústria, como: a necessidade de realização de investimentos em infraestrutura de produção, transporte e distribuição; o aprimoramento do acesso às principais reservas do hidrocarboneto; e as incertezas com relação à evolução da demanda. Utiliza-se o estudo estatístico econométrico para estimar as elasticidades preço e renda, ou seja, para investigar como a demanda industrial brasileira reage frente a um aumento ou diminuição de preço do gás e das variações na renda disponíveis no Brasil. Como proxy da renda industrial utilizam-se os dados do PIB industrial brasileiro. Após identificar que as séries estudadas eram não estacionárias, optou-se pela utilização do conceito de cointegração. Os resultados obtidos por meio do referido modelo mostraram que a demanda estudada é muito mais sensível a variações do preço do gás natural do que a variações na renda. Desse modo, constatou-se que, no Brasil, preços mais competitivos obtêm melhores resultados para o crescimento da demanda por gás natural do que aumentos da renda.
The purpose of the present study is to estimate the elasticity, mainly in terms of price and income, of the demand for gas natural in the Brazilian industrial sector. The industry represents around two-thirds of the natural gas consumption in the country, highlighting strategic importance in creating energy policy related to natural gas. This paper also presents the evolution in international trade of natural gas and the perspectives of increased in the use of this energy source in Brazil and worldwide. Some challenges still lay ahead for effective intensification of the gas industry in the country, such as: the increase of investments in infrastructure for production, transport and distribution; the development to the access to major hydrocarbon reserves; the improvements to deal with uncertainties regarding the evolution of demand. Econometric tools are used to estimate price and income elasticity for the Brazilian industrial sector, in other words, to investigate how the natural gas demand reacts to an increase / decrease in the price of gas and in the available income. The industrial GDP is used as a proxy for income. After determining that the series under study were non-stationary, the co-integration approach was chosen and Vector Error Correction Model (VEC Model) was applied. The obtained results show that the price elasticity in the industrial sector in Brazil is significantly higher than income elasticity.
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Dias, Tuanne Ferreira. "Elasticidades-preço e renda da demanda domiciliar de eletricidade: estimação econométrica com dados da POF 2008/2009." Universidade Federal de Juiz de Fora, 2015. https://repositorio.ufjf.br/jspui/handle/ufjf/105.

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O presente estudo tem como objetivo obter estimativas de elasticidades-preço, renda e relativas a outras variáveis para a demanda domiciliar de eletricidade segundo 20 grupos da população brasileira em 2008/2009. Os grupos são definidos segundo classes socioeconômicas e regiões macroeconômicas. Tal objetivo é motivado pelo fato de haver poucos estudos na literatura para a demanda domiciliar de eletricidade usando microdados de forma tão pouco desagregada. Para tanto, são usados microdados domiciliares da POF de 2008/2009 do IBGE. A POF 2002/2003 também é usada com o objetivo de comparação entre os dados na análise descritiva, mas não de estimação. Sendo a POF uma amostra de dados complexos, para obter resultados coerentes, considera-se o plano amostral nas estimações e também os pesos de expansão, o que leva ao uso de mínimos quadrados ponderados. Os resultados sugerem que as regiões mais sensíveis ao aumento do preço da energia são Centro-Oeste e Sul e as menos sensíveis Norte e Nordeste, ou seja, o consumo para essas últimas regiões pouco se alterariam com o aumento do preço. Já um aumento na renda domiciliar, as regiões Norte, Nordeste e Sudeste aumentariam mais o consumo de energia elétrica do que as regiões Centro-Oeste e Sul.
This study develops estimates of price and income elasticities, and with regard to other variables, for household electricity demand across 20 groups of the Brazilian population in 2008/2009. The groups are set according to socioeconomic classes and macroeconomic regions. The motivation is the fact that there are few studies in the literature for household electricity demand using microdata so as little broken. Thus, we used household microdata from IBGE’s survey of family budgets POF 2008/2009. The POF 2002/2003 are also used for comparison purposes within the descriptive data analysis, but are not used for estimation. As the POF a complex data survey, in order to obtain consistent results the sampling plan is considered in the estimates including the expansion weights, which led to the use of weighted least squares. The results suggest that regions which are most sensitive to rising energy prices are the Midwest and South, while the North and Northeast are less sensitive, ie the consumption for the latter regions would change little with the price increase. Yet an increase in household income, the North, Northeast and Southeast further increase the power consumption than the Midwest and South.
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Books on the topic "Income-elasticity of demand"

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Garrett, Thomas A. Inter-temporal differences in the income elasticity of demand for lottery tickets. St. Louis, Mo.]: Federal Reserve Bank of St. Louis, 2007.

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Presley, John R. Real business cycles: Sectoral versus aggregate shocks and the elasticity of demand for income in terms of work effort. Loughborough: Loughborough University of Technology, Department of Economics, 1993.

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Linda, Stewart. Fines and fees: The relationship between income and operation and the problem of estimating the price elasticity of demand for library services. [Loughborough: Centre for Library and Information Management, Dept. of Library and Information Studies, Loughborough University], 1985.

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Scott, S., and Denis Conniffe. Energy Elasticities: Responsiveness of Demands for Fuels to Income and Price Changes in Ireland. Intl Academic Pub, 2000.

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Book chapters on the topic "Income-elasticity of demand"

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Robbins, Lionel. "On the Elasticity of Demand for Income in Terms of Effort." In Economic Science and Political Economy, 79–84. London: Palgrave Macmillan UK, 1997. http://dx.doi.org/10.1007/978-1-349-12761-0_6.

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Saloojee, Yussuf. "Price and Income Elasticity of Demand for Cigarettes in South Africa." In Tobacco and Health, 235–39. Boston, MA: Springer US, 1995. http://dx.doi.org/10.1007/978-1-4615-1907-2_51.

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Lu, Jing, Yucan Meng, Changmin Jiang, and Cheng Lv. "Demand for Air Travel and Income Elasticity." In International Encyclopedia of Transportation, 547–54. Elsevier, 2021. http://dx.doi.org/10.1016/b978-0-08-102671-7.10509-3.

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Narayanamoorthy, A. "Has Agricultural Price Policy Benefitted Paddy Farmers?" In Farm Income in India, 77–102. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780190126131.003.0004.

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This chapter looks at the impact of support price policy on the income from paddy crop. Markets for agricultural produces in India are mostly unorganized and distorted where farmers are often scrupulously exploited. Also since the elasticity of demand for agricultural commodities particularly foodgrains is less than unit, increased production during bumper harvest brings down the prices of agricultural commodities sharply. But, the support price provided to paddy has come under severe scrutiny for various reasons in recent years. Farmers have been demanding for higher support price for paddy but some economists argue that increase in paddy price is ‘dirty economics and dirtier politics’. With the help of time series data, chapter 4 provides an elegant analysis whether the support price scheme has helped paddy cultivating farmers in terms of increasing their income.
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Ezrachi, Ariel. "2. Markets." In Competition and Antitrust Law: A Very Short Introduction, 13–27. Oxford University Press, 2021. http://dx.doi.org/10.1093/actrade/9780198860303.003.0003.

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‘Markets’ examines markets, looking at demand and supply. The demand curve provides information on how the demand for a given product changes with its price, while the supply curve illustrates the correlation between the product price and quantity available for a given period. The meeting point between the two, in a competitive market, represents the market price. The market price is affected, among other things, by the nature of the product in question, by the availability and price of substitutions (cross-price elasticity), by changing consumer needs and preferences, by innovation, and by consumers’ level of income. There are two types of markets relevant here: the product market and the geographical market.
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Tran, Xuan. "Impact of COVID-19 Vaccines on Tourism Demand and Culture." In Handbook of Research on Developing Circular, Digital, and Green Economies in Asia, 42–58. IGI Global, 2022. http://dx.doi.org/10.4018/978-1-7998-8678-5.ch003.

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The low supply of vaccines for COVID-19 has disrupted tourism development in Asia. The question is if the vaccine may change cultural divergence into cultural convergence at the tourist destination. The purpose of this study is to examine the culture and price elasticity of hotel demand to find the cultural convergence. The study has conducted autoregressive distributed lag model to test whether the vaccine would change the price and income elasticities of hotel demand to find the cultural transformation from divergence to convergence through tourism. Findings indicate that the impact of the vaccine on transferring culture from divergence to convergence was confirmed. Tourists from the divergent cultures specified by less levels of Hofstede's cultural dimensions will visit the country destination with high levels of Hofstede's cultural dimensions after COVID vaccination. Japan and the US that possess divergent levels of power will visit Vietnam for power convergence. China, Korea, and Russia that possess divergent levels of indulgence will visit Vietnam for indulgence convergence.
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Cantore, Nicola, and Ludovico Alcorta. "Structuralist Contributions to Development Thinking." In New Perspectives on Structural Change, 21–49. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780198850113.003.0002.

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This chapter reviews the structuralist contributions to thinking about economic growth and development. The chapter begins by tracing the roots of structuralism back to the classical economists such as Smith, Ricardo, and Quesnay. The common denominator of structuralist thought is the emphasis on breaking down the economy into different industrial sectors and examining the effects of sectoral developments on aggregate economic development. This contrasts with neoclassical thinking, which in all its varieties, tends to focus on the macro-economy without a breakdown into sectors. The authors go on to discuss early contributions, post-war contributions, and recent contributions. They analyse the major drivers of structural change. These include technology which changes the structure and composition of demand, productivity trends within sectors, and the role of demand and income elasticity.
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Fehr, Hans, and Fabian Kindermann. "The life-cycle model and intertemporal choice." In Introduction to Computational Economics Using Fortran. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198804390.003.0009.

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The discussion in the Chapters 3 and 4 centred around static optimization problems.The static general equilibrium model of Chapter 3 features an exogenous capital stock and Chapter 4 discusses investment decisions with risky assets, but in a static context. In this chapter we take a first step towards the analysis of dynamic problems. We introduce the life-cycle model and analyse the intertemporal choice of consumption and individual savings. We start with discussing the most basic version of this model and then introduce labour-income uncertainty to explain different motives for saving. In later sections, we extended the model by considering alternative savings vehicles and explain portfolio choice and annuity demand. Throughout this chapter we follow a partial equilibrium approach, so that factor prices for capital and labour are specified exogenously and not determined endogenously as in Chapter 3. This section assumes that households can only save in one asset. Since we abstract from bequest motives in this chapter, households do save because they need resources to consume in old age or because they want to provide a buffer stock in case of uncertain future outcomes.The first motive is the so-called old-age savings motive while the second is the precautionary savings motive. In order to derive savings decisions it is assumed in the following that a household lives for three periods. In the first two periods the agent works and receives labour income w while in the last period the agent lives from his accumulated previous savings. In order to derive the optimal asset structure a2 and a3 (i.e. the optimal savings), the agent maximizes the utility function . . . U(c1, c2, c3) = u(c1) + βu(c2) + β2u(c3) . . . where β denotes a time discount factor and u(c) = c1−1/γ /1−1/γ describes the preference function with γ ≥ 0 measuring the intertemporal elasticity of substitution.
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"period. Of these 14, only three, namely, the Philippines, Thailand and Sri Lanka, appeared at a rough glance, to have met the two balances. In most of the others, the rate of growth of food production, even when keeping abreast of population growth, was not sufficient to accommodate increases in food demand that should be allowed for at normal rates out of additional incomes. Mozambique, Ethiopia and Nicaragua put in a dismal showing with staggering declines in the index of per capita food production, although the reference period straddles the systemic breaks in these countries. India conforms to the general pattern of doing rather better in terms of the overall growth and, therefore, of the labour absorption experience than in terms of the food balance relation. Three conditional conclusions seem to be justified: that it is only in exceptional cases that both balances have been maintained; that in the majority of cases, the experience with regard to overall growth has been better than that for the food sector, implying imbalanced growth; and that in the overwhelming number of cases, the food balance has been grossly violated. A few additional points need to be made. First, the twin balances as discussed only provide a floor level: the balances could also be maintained at much higher growth rates. Second, even when the balances are met, it is possible that other mechanisms operate which lead to the violations of the conditions which the balances were meant to protect. Thus, food production and employment might be sufficient, but if the foodgrains are politically prices (as in India), the result might be similar, from the point of view of the poor, to the situation where the food balance is violated. So also, the rate of employ-ment increase might be high enough, but the labour participation rate might rise for certain groups of the population while it drops for others, again implying, from the point of those left out, a violation of the employment balance. Third, even where one or both balances are violated, it is possible that there is a positive per capita growth rate of income in aggregate terms. Indeed, high per capita growth rates are more likely to be characterised by food imbalances than not. Fourth, these imbalances are partly ascribable to the nature of the growth process, but usually also in part to the nature of planning and policy priorities of the state. What happens when there are imbalances? While the pressures set up by imbalances are similar, the manner in which they are absorbed, and hence the social burden of the adjustment is quite different in socialist as against capitalist economies. When the EB is violated, the average number of dependents per employed person rises. If alongside this, per capita incomes are rising, then the question becomes one of an equitable sharing of the restricted employment opportunities . W ithin a capitalist framework, there is no way for this to happen; in a socialist economy, where the entitlement to work is universally guaranteed, there is an inbuilt redistributive mechanism which shares out the available benefits of employment - albeit with greater gains for the employed - between the employed and the unemployed population. When the FB is broken, then in a capitalist economy, the inequality of the distribution of income leads to an inflationary process which raises the price of food suf-ficiently to establish a new equilibrium, but at a point where the post facto income elasticity of demand for food is low enough to equilibriate effective." In The Agrarian Question in Socialist Transitions, 17. Routledge, 2013. http://dx.doi.org/10.4324/9780203043493-3.

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Conference papers on the topic "Income-elasticity of demand"

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Yayar, Rüştü, Yunus Emre Birol, and Yusuf Demir. "Analysis of Turkey’s Export and Import Demand Functions within the Context of Foreign Trade with Russia." In International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00783.

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The main purpose of this study is to analyze the foreign trade of Russia and Turkey. Considering the foreign trade volume between the two countries, an experimental study was carried out to determine export and import demand functions of Turkey. The Russian Federation has been one of the countries having an important part in export of Turkey. Whereas textile products have taken the first place within the export of Turkey, petroleum gas and natural gas have taken the first place in import. The data used in the study covered the period between 1995 and 2010 quarterly. The data were obtained from Turkish Republic Central Bank, International Money Fund, Russian Central Bank and Russian Federal Statistics Service databases. According to obtained results, export of Turkey to Russia has affected more from the income of Russia rather than the relative prices, and import of Turkey from Russia has affected more from the income of Turkey rather than the relative prices. When income and price elasticity of export and import demands were analyzed, income and price elasticity of the export demand was noticed as being greater than the income and price elasticity of the import demand.
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Vargová, Lucia, and Martin Jamrich. "ESTIMATION OF PRICE AND INCOME ELASTICITY OF DEMAND FOR MILK IN SLOVAKIA." In 2nd International Scientific Conference. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2018. http://dx.doi.org/10.31410/itema.2018.357.

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Dicembrino, Claudio, and Giovanni Trovato. "Structural breaks, price and income elasticity and forecast of the monthly italian electricity demand." In 2013 10th International Conference on the European Energy Market (EEM 2013). IEEE, 2013. http://dx.doi.org/10.1109/eem.2013.6607290.

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Luo, Dang, and Bo Song. "Analysis and prediction for the income elasticity of the consumer demand in Chinese rural areas." In 2011 International Conference on Grey Systems and Intelligent Services (GSIS 2011). IEEE, 2011. http://dx.doi.org/10.1109/gsis.2011.6043999.

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Uygur, Ercan. "Uncertainties, Protectionism and Slowdown in Global Trade." In International Conference on Eurasian Economies. Eurasian Economists Association, 2018. http://dx.doi.org/10.36880/c10.02195.

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The United States announced plans to impose tariffs and quotas on her imports of certain commodities, notably iron, steel and aluminum, and on imports from certain countries, including those from China, in early 2018. These and counter announcements has been considered as the start of global trade wars. Even before that, there has been a significant slowdown in the growth of world trade in recent years. In the three decades before 2011, annual world trade recorded a growth of about 6%. This was twice as high as world GDP growth, implying an income (GDP) elasticity of trade at around 2. Between 2011 – 2016, the income elasticity of trade has fallen to below 1, on average. While the recent poor performance of global trade has been attributed to these structural and cyclical factors, this paper argues that the rise in both price uncertainty, demand uncertainty and policy uncertainty have and will have a significant effect on trade growth. Price uncertainty is reflected in fluctuations in real exchange rates, commodity prices and manufacturing prices. Demand uncertainty, on the other hand, is reflected by growth variability in time and among countries. Policy uncertainty can be traced in protectionist measures.
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Isaev, A. G. "ON STRATEGIC CHALLENGES FOR THE KHABAROVSK TERRITORY FROM THE POSITION OF ITS INDUSTRIAL STRUCTURE." In SOCIO-ECONOMIC DEVELOPMENT OF THE RUSSIAN EAST: NEW CHALLENGES AND STRATEGIC GUIDELINES. Khabarovsk: KSUEL Editorial and Publishing Center, 2021. http://dx.doi.org/10.38161/978-5-7823-0746-2-2021-166-171.

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The paper outlines the prospects and possible obstacles for the economy of the Khabarovsk Territory in terms of its strategic development. It is shown that the development of competitive industries in neighboring regions can significantly change the existing trade flows arising from the current industrial structure of the regional economy. The theoretical foundations of the importance of priority development of activities with high income elasticity of demand for non-residents are presented.
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Bal, Harun, Pınar Gümüş Akar, and Müge Manga. "An Empirical Analysis on the Elasticity of Air Transportation Demand: Sample of Turkey." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01930.

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Air Transportation, which is a sector ever-increasing its volume and importance because of requiring infrastructural investments, providing fast and reliable transportation facilities, offering employment and its the positive effects on the other sector activities. The demand, for air transportation which is appeared in development goals of many countries and the development indicators of the World bank, is constituted one of the most important components. The aim of this study is estimated of the sensitivity to income and price, air transportation demand in Turkey. In this direction, it is estimated the price and income elasticities in the short and long term by the FMOLS and VEC method for the air passenger demand using the data of GSYH, flight ticket price index and the number of passengers in Turkey in the period of 2007Q1-2016Q1. The results obtained, consistent with expectations, are indicated that the price inelasticity of the air passenger demand in Turkey is high and according to the income elesticity parameter is luxury good.
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Reports on the topic "Income-elasticity of demand"

1

Hummels, David, and Kwan Yong Lee. The Income Elasticity of Import Demand: Micro Evidence and An Application. Cambridge, MA: National Bureau of Economic Research, April 2017. http://dx.doi.org/10.3386/w23338.

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Coughlin, Cletus C., and Thomas A. Garrett. Inter-temporal Differences in the Income Elasticity of Demand for Lottery Tickets. Federal Reserve Bank of St. Louis, 2007. http://dx.doi.org/10.20955/wp.2007.042.

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