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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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Noce, Rommel, José Luiz Pereira de Rezende, Agostinho Lopes de Souza, Lourival Marin Mendes, Márcio Lopes da Silva, Rosa Maria Miranda Armond Carvalho, Juliana Mendes de Oliveira, and Juliana Lorensi do Canto. "Brazilian sawn wood price and income elasticity." CERNE 16, no. 3 (September 2010): 259–65. http://dx.doi.org/10.1590/s0104-77602010000300002.
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This study estimated the sawn wood demand price and income elasticity. Specifically it was estimated the price elasticity of sawn wood, the cross price elasticity of wood panels and the income elasticity of Brazilian GDP. A log-log model with correction through outline of the mobile average (MA(1)) was used, adjusted for the period of 1971 to 2006, which showed to be stable, with satisfactory significance levels. It was observed that sawn wood demand is inelastic in relation to price and elastic in relation to income.
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Graves, Philip E., and Robert L. Sexton. "Cross Price Elasticity and Income Elasticity of Demand: Are Your Students Confused?" American Economist 54, no. 2 (October 2009): 107–10. http://dx.doi.org/10.1177/056943450905400211.
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Syirah Murandawi, M. Luthfi, Fajri Jakfar, and Mustafa Mustafa. "Analsisi Elastisitas Permintaan Konsumen Rumah Tangga Terhadap Telur Ayam Ras di Kota Banda Aceh." Jurnal Ilmiah Mahasiswa Pertanian 3, no. 3 (August 1, 2018): 54–65. http://dx.doi.org/10.17969/jimfp.v3i3.8108.
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Abstract. Chicken Eggs Demand race in Banda Aceh city influenced by the price of eggs, the price of fish, cooking oil prices, income and number of dependents. This study aims to look at the demand for chicken eggs dipengaruhhi by the price of eggs, the price of fish, cooking oil prices, income and number of dependents, and to see the price elasticity, cross elasticity and income elasticity. Withdrawal of samples obtained by the method of proportional stratified random samplingin Banda Aceh where for high income states 25, middle 65 and lower 33 samples. The technique is passed on this peneitian with Multiple Linear Regression. The results of this study show the price of eggs, the price of fish, cooking oil prices, income and number of dependents significant effect simultaneously, and the price elasticity of its elastic for medium and low, while high-inelastic, the cross elasticity of substitution for fish and complementary to cooking oil, and for its income elasticity of eggs belonging to inferior goodsAnalysis of elasticity of demand for eggs in banda aceh cityAbstract. Demand for Chicken Eggs in the city of banda aceh is influenced by the price of eggs, the price of the egg, the price of cooking oil, the income and the number of dependents. This study aims to see the demand for chicken eggs influenced by the price of eggs, the price of the village egg, the price of cooking oil, the income and the number of dependents and to see the price elasticity, cross elasticity and income elasticity. Sampling was obtained by multi stage cluster random sampling method in Kota Banda Aceh with a sample of 46 family heads. Techniques performed on this study with Multiple Linear Regression. The results of this study indicate the price of eggs, the price of eggs, the price of cooking oil, the income and the number of dependents have a significant effect simultaneously, while partially only the price of eggs, the price of cooking oil and the number of dependents that have real effect, and elasticity of its price elastic , cross-substitution elasticity for chicken eggs and complementary for cooking oil, and for his income elasticity of chicken eggs belonging to normal goods.
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Wang, Jingjing, Yongfu Chen, Zhihao Zheng, and Wei Si. "Determinants of pork demand by income class in urban western China." China Agricultural Economic Review 6, no. 3 (August 26, 2014): 452–69. http://dx.doi.org/10.1108/caer-08-2012-0090.
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Purpose – The purpose of this paper is to investigate the determinants of pork consumption in urban western China and the different consumption patterns across income strata with respect to income elasticity and price elasticity of demand. Design/methodology/approach – The double-hurdle model is fit to the household data of Sichuan and Xinjiang provinces which is from the National Bureau of Statistics urban household surveys. Findings – The paper finds that consumers’ purchasing decisions regarding pork are related to both non-economic and economic factors. The results also indicate large differences among the determinants for decision of how much pork to buy across the three income strata. Low-income households have higher income elasticity than middle-income and high-income households. High-income and middle-income households’ level of pork consumption is more sensitive to pork price. High-income households have greater cross-price elasticity. Originality/value – In the previous studies, the non-economic determinants of pork consumption have not been addressed, and neither does the issue of difference pork purchasing behavior across income strata for urban households in western China. So this study uses the double-hurdle model to investigate the determinants of pork consumption in urban western China.
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Blahun, Ivan, Halyna Leshchuk, and Mariya Kyfor. "Economic modeling of touristic services demand in the regions." Regional Economy, no. 4(94) (2019): 87–93. http://dx.doi.org/10.36818/1562-0905-2019-4-7.
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Considering the important role of tourism in the socio-economic development of regions, the need for information and modeling of ways to increase demand for tourism services and tourism development is being updated. The article uses methods of analytical, logical, comparative analysis and systematic approach to study trends in demand for tourist services in Ukraine. Econometric modeling analyzes the demand for tourism services by the level of income and expenditures of the population in 2018. Trends in demand for tourism services in 2018 in terms of income and expenditure of the population with the use of the Tornquist econometric model have been analyzed. It is proposed to use the decile groups of the population for analyzing income and expenditure by the level of income, total income per capita, the level of household expenditure relative to income, the percentage of tourism expenditure by households, the expenditure on tourism and the elasticity of tourism demand. Average values of the population’s expenditures on tourism were established, which helped to determine the elasticity of effective demand for each decile group. The more than one unit of elasticity of effective tourism demand for each decile group indicated that tourism services for domestic households belong to the group of luxury goods and services. It should be noted that in the following decile income groups of households there is a decrease in elasticity. It means that when income tends to increase indefinitely, elasticity coefficients fall, and this indicates a stabilization of costs of this type. In this case, the percentage of households in each decile group that recorded the costs of organized tourism in their budgets and the value of the probability of household participation in this form of recreation was determined based on an estimated probability model. An analysis of the values of income elasticity indicators in each income decile group has shown that increasing household incomes contribute to increased demand for tourism services and an increase in the share of expenditures for these purposes in household budgets.
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Fadhlan Syihabuddin, Elinur, and Sisca Vaulina. "PERMINTAAN DAGING SAPI DI PROVINSI RIAU." DINAMIKA PERTANIAN 35, no. 1 (September 15, 2021): 33–40. http://dx.doi.org/10.25299/dp.2019.vol35(1).7684.
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The husbandry sub-sector is a source of supporting energy for human needs, especially beef. Beef is a food commodity that has had an impact on improving public nutrition, especially animal protein. This study aims to analyze the development of beef demand and variables that influence it in Riau, the factors that influence beef demand in Riau Province, and the price elasticity, income elasticity, and cross elasticity of factors affecting meat demand beef in Riau Province. This research used the literature study. The data used in this research was data time series from 1999 to 2015. Data were analyzed using descriptive statistics, multiple linear regression, and elasticity. The results showed that the overall average development of beef demand, beef prices, chicken meat prices, rice prices, population income, and the population increased during the period. The factors that significantly influence the demand for beef were the price of beef and the price of rice. Meanwhile, the price of chicken meat, the income of the population, and the population had no significant to the demand for beef. The results of the elasticity calculation of demand showed that beef prices, rice prices, and population income were responsive to beef demand. This indicates that changes in beef prices, rice prices, and population income had a major impact on changes in demand for beef.
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Zhang, Xin Min, Kuang Cen, and Wan Li Xing. "Information Processing for Analysis of Consumption Flexibility of Global Natural Gas Demand." Applied Mechanics and Materials 707 (December 2014): 514–19. http://dx.doi.org/10.4028/www.scientific.net/amm.707.514.
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Gas consumption exist great regional difference, price and income are the main factors affecting consumption .Global gas consumption has slow growth, but the price in 2008 there was a twist. We analyze the global natural gas consumption and price points using the data from the BP. The level of economic development and natural gas reserves determine the differences in the levels of consumption. In order to eliminate the impact per unit, the regression model uses the data in the log. This paper studied the influence factors of natural gas consumption in North America using of consumer income elasticity and price elasticity. The results show that the gas consumption have a low income elasticity and price elasticity is higher .Law of "S" shape can explain the income elasticity is low, the reason is that the stage of economic development. Price elasticity is higher lies in the different between Canada and the United States, the United States is a net importer of natural gas, and Canada is a net exporter. Keywords: Consumption Flexibility; Natural Gas Demand; income; price
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Riyandi, Galih. "META-ANALYSIS OF MONEY DEMAND IN INDONESIA." Buletin Ekonomi Moneter dan Perbankan 15, no. 1 (October 3, 2012): 41–62. http://dx.doi.org/10.21098/bemp.v15i1.415.
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Theory and empirical study about demand for money is the key feature in macroeconomics theory. The study about demand for money in Indonesia has been developing with various techniques. Its result in various analyses can be difficult in understanding behaviour of demand for money in Indonesia. This paper aims to find out the tendency of demand for money in Indonesia by analyzing long run and short run income elasticity and opportunity cost elasticity. We use fixed effects meta-analysis and unweighted average meta-analysis. The result shows that income elasticity and opportunity cost elasticity are consistent with theory of money demand. That result can be used as an empirical foundation to future study about demand for money in Indonesia. Keywords: demand for money, meta analysis, fixed effects.JEL Classification code: E41, E52
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Khan, Saleem, Muhammad Azam, and Chandra Emirullah. "Import Demand Income Elasticity and Growth Rate in Pakistan." Foreign Trade Review 51, no. 3 (July 26, 2016): 201–12. http://dx.doi.org/10.1177/0015732516646208.
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Fernandez, Viviana. "Price and income elasticity of demand for mineral commodities." Resources Policy 59 (December 2018): 160–83. http://dx.doi.org/10.1016/j.resourpol.2018.06.013.
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Abizadeh, Sohrab. "Economic development and income elasticity of demand for ?government?" Social Indicators Research 20, no. 1 (February 1988): 15–43. http://dx.doi.org/10.1007/bf00384216.
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Muñoz-García, Félix, and Tongzhe Li. "Explaining Hypothetical Bias Variations Using Income Elasticity of Demand." Homo Oeconomicus 35, no. 3 (August 30, 2018): 207–24. http://dx.doi.org/10.1007/s41412-018-0076-5.
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Jovanovic, Olivera, Jovan Zubović, Marko Vladisavljević, Duško Bodrož, Isidora Ljumović, Ivana Domazet, and Mihajlo Đukić. "Estimation of Tobacco Products Price and Income Elasticity using Aggregate Data." Economic Analysis 51, no. 3-4 (December 27, 2018): 81–94. http://dx.doi.org/10.28934/ea.18.51.34.pp81-94.
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In order to estimate elasticity of demand for tobacco products authors of this paper used aggregate level data. Research among low and middle income countries over the world empirically showed that demand for tobacco products is usually inelastic. Analysis conducted in the Republic of Serbia showed that price elasticity ranged between -0.76 and -0.62 while income elasticity ranged between 0.34 and 0.39. The main aim of this paper is to estimate long run and short run demand elasticity based on aggregate level data for period 2002-2016 using Error Correction model. This research is unique in the SEE countries, while research conducted in other low and middle income countries in Western Balkan region showed similar results.
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Otobideh, Seyed Alireza, Shahram Moeeni, Yousef Mohammadzadeh, Bahlol Rahimi, Hosein Shabaninejad, and Hasan Yusefzadeh. "Estimation of the income and price elasticity of pharmaceutical import demand in Iran." International Journal of Pharmaceutical and Healthcare Marketing 15, no. 3 (July 6, 2021): 466–74. http://dx.doi.org/10.1108/ijphm-05-2020-0045.
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Purpose Investigating the import of pharmaceutical products, as one of the essential goods of the country to improve health and medical conditions, is important in accelerating the economic growth and enhancing the welfare of the community. This paper aims to estimate the income and price elasticity of pharmaceutical import demand in Iran. Design/methodology/approach In this research, the function of Iran's pharmaceutical import demand was estimated and calculated using the co-integration method and error correction techniques with the seasonal data of 2005–2016 to identify factors related to import, as well as relevant price, and income elasticity. Findings The research results showed that the price elasticity of Iran's long-term pharmaceutical import demand was 0.04; that is, the rate of pharmaceutical import demanded by Iran was not sensitive to change in relative price. Additionally, the long-term income elasticity of Iran's pharmaceutical demand was 0.69, meaning that an increase in Iran's income did not have a highly positive impact on the volume of Iran's pharmaceutical import. Originality/value Estimating the function of the demand for pharmaceutical import may pave the way to adopt appropriate economic policies. Furthermore, estimating this function and calculating income and price elasticity is a step toward minimizing government expenditures and can be a great contribution in designing trade policies.
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DEPAULA, GUILHERME, and ROBERT MENDELSOHN. "DEVELOPMENT AND THE IMPACT OF CLIMATE CHANGE ON ENERGY DEMAND: EVIDENCE FROM BRAZIL." Climate Change Economics 01, no. 03 (December 2010): 187–208. http://dx.doi.org/10.1142/s2010007810000157.
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This paper investigates the effects of climate on residential electricity use for households from different income classes in Brazil. Using cross-sectional data, the study finds that the temperature elasticity of electricity consumption varies significantly across income classes. The temperature elasticity of low income households is not significantly different from zero but middle and high income families have a long run temperature elasticity of 0.8 and 1.6 respectively. As emerging low latitude countries develop and incomes rise, the welfare damages of warming in the energy sector will become substantial.
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Riyandi, Galih. "ANALISIS META PERMINTAAN UANG DI INDONESIA." Buletin Ekonomi Moneter dan Perbankan 15, no. 1 (October 3, 2012): 39–60. http://dx.doi.org/10.21098/bemp.v15i1.56.
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Theory and empirical study about demand for money is the key feature in macroeconomics theory. The study about demand for money in Indonesia has been developing with various techniques. Its result in various analyses can be difficult in understanding behaviour of demand for money in Indonesia. This paper aims to find out the tendency of demand for money in Indonesia by analyzing long run and short run income elasticity and opportunity cost elasticity. We use fixed effects meta-analysis and unweighted average meta-analysis. The result shows that income elasticity and opportunity cost elasticity are consistent with theory of money demand. That result can be used as an empirical foundation to future study about demand for money in Indonesia.Keywords: demand for money, meta analysis, fixed effects.JEL Classification code: E41, E52
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Mikayilov, Jeyhun I., Shahriyar Mukhtarov, and Jeyhun Mammadov. "Gasoline Demand Elasticities at the Backdrop of Lower Oil Prices: Fuel-Subsidizing Country Case." Energies 13, no. 24 (December 21, 2020): 6752. http://dx.doi.org/10.3390/en13246752.
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This study investigates the income and price elasticities of gasoline demand for a fuel subsidizing country case, applying three different time-varying coefficient approaches to the data spanning the period from January 2002 to June 2018. The empirical estimations concluded a cointegration relationship between gasoline demand, income, and gasoline price. The income elasticity found ranges from 0.10 to 0.29, while the price elasticity remains constant over time, being −0.15. Income elasticity increases over time, slightly decreasing close to the end of the period, which is specific for a developing country. In the short run, gasoline demand does not respond to the changes in income and price. The policy implications are discussed based on the findings of the study. Research results show that since the income elasticity of demand is not constant, the use of constant elasticities obtained in previous studies might be misleading for policymaking purposes. An increase in income elasticity might be the cause of the inefficiency of the existing vehicles. The small price elasticity allows to say that if policy makers plan to reduce gasoline consumption then increasing its price would not substantially reduce the consumption. The current situation can be utilized to increase energy efficiency and implement eco-friendly technologies. For this purpose, the quality of existing transport modes can be improved. Meanwhile, to meet households’ needs, policies such as providing soft auto loans need to be formed to balance the recent drop in car sales.
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Fitriyanti, Eka. "Demand Elasticity Analysis of Islamic Banking Financing in Indonesia." AFEBI Islamic Finance and Economic Review 2, no. 01 (August 10, 2017): 61. http://dx.doi.org/10.47312/aifer.v2i01.64.
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<p>This research aims to analyze the elasticity of demand for Islamic bank's financing in Indonesia. The variables observed in this study is inflation and income per capita. This research uses time series of data for the period 2004-2015, which is a secondary data. The Data is sourced from the central bank of Indonesia and Indonesian Central Bureau of Statistics, the models used in this study is a model of multiple regression equations and Analyzed using Ordinary Least Squares (OLS). Based on the estimates, the Research found that the inflation and income per capita significantly influence elasticity of demand for Islamic bank's financing in Indonesia. The elasticity of demand for Islamic bank's financing is inelastic to changes in price. This means that the demand Islamic bank's financing in Indonesia are not sensitive to changes in price. So, Islamic banks must be-able using other factors for growth Reviews their financing.</p><p><br />Keywords: Elasticity of Demand, Income per Capita, Inflation, Islamic bank’s financing</p>
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Macea, Luis F., Luis Márquez, and José J. Soto. "Parking demand elasticity with income systematic variations in Monteria, Colombia." Ingeniería y Desarrollo 35, no. 2 (June 15, 2017): 513–32. http://dx.doi.org/10.14482/inde.35.2.10173.
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Djanuwardi, Bambang, Ahmad Sutarmadi, and Gunawan Sumodiningrat. "PERMINTAAN TERIGU DI INDONESIA." Agro Ekonomi, no. 5 (November 30, 2016): 79. http://dx.doi.org/10.22146/agroekonomi.16834.
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This study on wheat demand in Indonesia attempto know the factors influencing the wheat demand and to what extent it is influenced.The data used in this study is a time series of 1967 to 1986, and regression analysis was employed with static double log model.The result indicates that the price elasticity of demand for wheat is not elastic, while the income elasticity of demand is elastic. The cross price elasticity of demand of rice is not elastic.Variables that consistently influence demand of wheat are, wheat price, rice price, and income. While for sugar, egg, milk, there is no strong eyidencce indicating that they are the wheat complements. It can not be concluded either that corn is the substitut of wheat
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Fredman, Peter, and Daniel Wikström. "Income elasticity of demand for tourism at Fulufjället National Park." Tourism Economics 24, no. 1 (August 3, 2017): 51–63. http://dx.doi.org/10.1177/1354816617724012.
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National Parks are significant markers in the tourism attraction system and represent an important supply of recreation opportunities for the clients of the nature-based tourism industry. In this study, we analyze income elasticities among visitors from two major nationalities at Fulufjället National Park (FNP)—a cross-boundary park between Sweden and Norway—to see if this tourism product is a luxury or not. Modeling demand with a Tobit model, we find that visiting this National Park is close to a luxury, but results also show that elasticities differ across both income and nationality: FNP is more likely to be a luxury good among low-income Germans and high-income Swedes. The article concludes with a discussion on policy and management implications from these results.
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Otunaiya, A. O., and A. M. Shittu. "Complete household demand system of vegetables in Ogun State, Nigeria." Agricultural Economics (Zemědělská ekonomika) 60, No. 11 (November 27, 2014): 509–16. http://dx.doi.org/10.17221/46/2014-agricecon.
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Fruit and vegetable consumption has been shown to be an important part of any diet leading towards good health, but little is known about the vegetable demand behaviour at finer levels of disaggregation in Nigeria. Hence, this study estimated the price and income (expenditure) elasticities of demand for the commonly consumed vegetables among households in the Ogun State, Nigeria. Data were collected with the use of a well-structured questionnaire administered to one hundred and twenty (120) households that were randomly selected using a multi-stage sampling procedure. The data were analysed by simple descriptive statistics and estimation of a Nonlinear Quadratic Almost Ideal Demand System (NQAIDS) of vegetable demand behaviour of households sampled. The results show that income elasticity of demand for Bitter leave (–3.43) and the Eggplant (–3.67) are elastic, while income elasticity of demand for Tomato (0.27), to which about one-third of vegetables expenditure are devoted, is inelastic. The results further revealed thatown-price elasticities of demand carry the expected negative signs for all the vegetables and are generally inelastic. Estimates ofcross price elasticities show the dominance of substitutability among the vegetables with only few cases of complementarities.
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Zhu, Xing, Lanlan Li, Kaile Zhou, Xiaoling Zhang, and Shanlin Yang. "A meta-analysis on the price elasticity and income elasticity of residential electricity demand." Journal of Cleaner Production 201 (November 2018): 169–77. http://dx.doi.org/10.1016/j.jclepro.2018.08.027.
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Peltner, Jonas, and Silke Thiele. "Elasticities of Food Demand in Germany – A Demand System Analysis Using Disaggregated Household Scanner Data." German Journal of Agricultural Economics 70, no. 1 (March 1, 2021): 49–62. http://dx.doi.org/10.30430/70.2021.1.49-62.
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This paper presents price and income elasticities of food demand for Germany. Using disaggregated household scanner data and the Quadratic Almost Ideal Demand System (QUAIDS). The QUAIDS is modified to account for censoring and include household demographics. Furthermore, a two-stage budgeting approach is used to more accurately reflect households’ purchasing behaviour. Having disaggregated data also allowed to include convenience aspects into the demand system. High expenditure elasticities are found for fruits and nuts and meat, fish and eggs. The highest own-price elasticity is found for beverages. At the second stage, the bread toppings group reveals new insights into demand relations between cold cuts, cheese and other spreads. Cold cuts have both the highest expenditure and own-price elasticity. Cross-price elasticities indicate mostly complementary relations between cold cuts and other bread toppings. Comparing different income groups shows that expenditure elasticities of raw foods or basic ingredient foods tend to decrease as income increases, whereas expenditure elasticities of foods that require minimal or no preparation tend to increase with income. In conclusion, this study stresses the need for regularly updated elasticities of food demand that reflect up-to-date consumption behavior.
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Havránek, Tomáš, and Jana Sedlaříková. "A Meta-Analysis of the Income Elasticity of Money Demand." Politická ekonomie 62, no. 3 (June 1, 2014): 366–82. http://dx.doi.org/10.18267/j.polek.956.
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Metaxas, S., and E. Charalambous. "Residential price elasticity of demand for water." Water Supply 5, no. 6 (December 1, 2005): 183–88. http://dx.doi.org/10.2166/ws.2005.0063.
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This paper presents an analysis on price elasticity of demand for water as a consequence of price increases. The objective of this research study is to estimate the residential price elasticities of demand for water for different regions, which may have different income levels. The general conclusion is that price elasticity for residential water use is inelastic (i.e. a given percentage of price increase results in a proportionally smaller decrease in quantity demanded) and it varies by consumer class and type of water use. The elasticity is not significantly affected by demographic and other factors.
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Benda Prokeinova, R., and M. Hanova. "Modelling consumer’s behaviour of the meat consumption in Slovakia." Agricultural Economics (Zemědělská ekonomika) 62, No. 5 (May 27, 2016): 235–45. http://dx.doi.org/10.17221/33/2015-agricecon.
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There exists a plenty extensive theoretical and empirical literature on what determines the consumption levels over time and across countries, but less research into the changes in the consumption patterns (i.e. the mix of different goods and services that is purchased). To better understand how changing incomes and prices influenced the consumption patterns, the contribution estimates the Almost Ideal Demand System (AIDS) models. The aim of the paper is to find patterns and preference changes in the consumer demand for meat in Slovakia. From the methodological aspect, there were used important items of the demand, and for the consumer behaviour analysis, there were computed elasticity coefficients by using the model AIDS. The coefficients of the price and income demand elasticity were determined. The computed elasticities showed that all meat items had a positive income elasticity of demand which implies that they were normal goods. Beef and pork were expenditure (income) elastic and hence could be considered as a luxury, while poultry and fish were income inelastic meaning that those were of necessity.
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Amjad Chaudhry, Azam. "A Panel Data Analysis of Electricity Demand in Pakistan." LAHORE JOURNAL OF ECONOMICS 15, Special Edition (September 1, 2010): 75–106. http://dx.doi.org/10.35536/lje.2010.v15.isp.a5.
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This paper looks at the economy-wide demand and the firm level demand for electricity in Pakistan. The economy wide estimation of electricity demand uses panel data from 63 countries from 1998-2008, and finds that the elasticity of demand for electricity with respect to per capita income is approximately 0.69, which implies that a 1% increase in per capita income will lead to a 0.69% increase in the demand for electricity. The firm level analysis uses firm level data from the World Bank’s Enterprise Survey for Pakistan and finds that the price elasticity of demand for electricity across all firms is approximately -0.57, which implies that a 1% increase in electricity prices will lead to a 0.57% decrease in electricity demand across firms. Across sectors, the textile sector has the highest price elasticity of demand (-0.81) while the price elasticity of demand for firms in the electricity and electronics sector is the smallest (-0.31). Finally, firm level data is also used to estimate production functions in order to estimate the impact of electricity shortages on manufacturing output.
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Suslinawati, Suslinawati, Masyhuri Masyhuri, and Mas Soedjono. "ANALISIS PERMINTAAN TELUR BERDASARKAN JENIS DAN STRATA PENDAPATAN DI KALIMANTAN SELATAN." Agro Ekonomi 8, no. 1 (November 29, 2016): 60. http://dx.doi.org/10.22146/agroekonomi.16828.
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This research wanted to know the consumer behavior in demand of egg as source of animal protein in South Kalimantan. In particular, this research aimed to identify and to know the price elasticity, cross elasticity and income elasticity at low, middle and high income groups, which were divided into the rural and urban areas and also were divided into egg of layer, "buras" and duck.The data that was used in this research was SUSENAS data 1996, with 1698 surveyed households. The analysis used TOBIT model or the censored regression model. TOBIT model is a regression model that was used to estimate the qualitative difference between limit observation (zero) and non-limit observation (continuous).The result also showed that generally, the characteristic of demand of egg based on SUSENAS data 1996 in South Kalimantan was in-elastic except on demand of egg at low income stratum in rural area and on demand of egg of "buras", where the both of them were elastic. In accordance with SUSENAS data 1996, for South Kalimantan society, egg was normal good since all estimations showed that income elasticity was higher than zero and smaller than one
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Syrovátka, P. "Exponential model of the Engel curve: Application within the income elasticity analysis of the Czech households’ demand for meat and meat products." Agricultural Economics (Zemědělská ekonomika) 53, No. 9 (January 7, 2008): 411–20. http://dx.doi.org/10.17221/636-agricecon.
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The paper is focused on the economic and mathematical analysis of the Engel demand model in the exponential form: <i>q</i> = <i>a</i><sub>0</sub> × e<sup><i>a</i>1/<i>X</i></sup>.Properties of this exponential model are studied with respect to its application possibilities in the field of evaluation of the income elasticity of the Czech households’ demand for meat and meat products. According to the used database of the consumer behaviour of the average Czech household from 1995 to 2000 (CZSO-HES), the analysed exponential model of the Engel curve attained the following parameters:, <i>Q<sub>t</sub></i> = <i>A<sub>t</sub></i> × e<sup>–17336.8908<i>/Xt</i></sup>, where <i> A<sub>t</sub></i> = 44,6019 × e<sup>1,1119×10–4 × <i>t</i>2</sup> and <i>t</i> = 1, 2, …, 24. For the analysis of the income-demand elasticity of the developed exponential form, the model offers the static hyperbolic function: η (<i>X<sub>t</sub></i>) = 17 336.8908/<i>X</i><sub>t</sub>. The derived hyperbolic function of the income-demand elasticity falls digressively and the simulated values tend to the zero level. In analysed time period (1995–2000), the income-demand reactions were simulated in the elastic form with the values from 1.3866 to 1.1340. The average level of the analysed income- demand elasticity between the observed years reached the value of 1.2121, thus the 1% rise in the real level of the quarter households’ incomes per capita led to the average increase in the average Czech household’s demand for meat and meat products, including fish and fish products, of about 1.21%.
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Arimah, B. C. "The Income Elasticity of Demand in a Sub-Saharan African Housing Market: Evidence from Ibadan, Nigeria." Environment and Planning A: Economy and Space 26, no. 1 (January 1994): 107–19. http://dx.doi.org/10.1068/a260107.
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Very little is known about the behaviour of housing demand in sub-Saharan housing markets. This ostensibly is due to the dearth of such studies in this region. In this paper the author estimates the parameters of the demand for housing, using data drawn from the city of Ibadan in Nigeria. The empirical analysis, in which housing is viewed as a composite product, reveals that the demand for housing is income inelastic. Specifically, income-elasticity estimates for renters and owners are 0.88 and 0.56, respectively. Furthermore, these income-elasticity estimates were found to be higher than those reported for other African cities.
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Miftahuddin, Lea, Titik Ekowati, and Bambang Mulyatno Setiawan. "ANALISIS PERMINTAAN CABAI RAWIT MERAH (Capsicum frutescens) DI KABUPATEN SEMARANG." SOCA: Jurnal Sosial, Ekonomi Pertanian 14, no. 1 (January 31, 2020): 66. http://dx.doi.org/10.24843/soca.2020.v14.i01.p06.
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Red cayenne papper is a food ingredient that has a high demand at the level of household consumers. Demand for red cayenne is influenced by several factors. Factors demand for red cayenne papper were red cayenne papper prices, curly red chili prices, household consumer income, number of family members and consumer tastes. The research aimed to analyze the determinant factors of red cayenne papper demand and to analyze elasticity of demand of red cayenne pepper in Semarang Regency. The research location determined by purposive. Survey method was used with Quota sampling to select 90 respondents from 3 District in Semarang Regency with the criteria of highest, medium and low red cayenne pepper production. Respondents taken by snowball method. Data were analyzed using multiple linear regression. Regression analyzed showed that independent variabels simultaneosly significant on dependent variabel. Partially the income of consumers, the number of family members and consumer tastes significantly influence the demand for red cayenne pepper. While the price of red cayenne pepper and curly red chili did not significantly affect the demand for red cayenne pepper. Red cayenne pepper elasticity was elastic 0.135 and categorized as normal goods. The income elasticity was 0.317. Curly red chili was substitutes red cayenne pepper with elasticity 0.122.
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Fridayanti, Nia, Siti Marwanti, and Ernoiz Antriyandarti. "ANALISIS PERMINTAAN TELUR AYAM DI KABUPATEN MAGETAN." Agriecobis : Journal of Agricultural Socioeconomics and Business 1, no. 2 (October 5, 2018): 1. http://dx.doi.org/10.22219/agriecobis.vol1.no2.1-10.
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This research aims to identify and to analyze the variables which influenced the chicken egg demand in Magetan District and to know its elasticity. This research used descriptive and analytical method. The research location was chosen purposively in Magetan. By using 27 years time series data, this study applied Cobb Douglass demand functing with OLS method. The results showed that the price of chicken egg race, chicken meat price, rice price, population and income per capita have significant effect on chicken egg demand in Magetan District. Race egg price has inelastic elasticity since its value is negative (-0,280). Chicken meat price has subtitute elasticity since its value is positive (0,911). Rice price has complementary elasticity since its value is negative (-0,233). Income elasticity has a negative (-0,476) value means that chicken egg is an inferior good for Magetan District.
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Suryani, Ani. "ANALISIS PERMINTAAN TELUR DI KABUPATEN SLEMAN (Analysis of Egg Demand in Sleman District)." Jurnal AGRISEP 9, no. 2 (September 11, 2010): 197–209. http://dx.doi.org/10.31186/jagrisep.9.2.197-209.
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The objectives of this research are to determine factors affecting egg demand during the period of 1991 to 2007, and to examine the prospect of egg as inferior, normal or superior commodity in Sleman District. The research location is determined purposively. The method used in this research is descriptive analysis with time series data (1991-2007). This study uses demand function approach by applying multiple regression model estimated using OLS (ordinary least square).The result of estimation shows that the partial demand of egg in Sleman District is caused by the price of fish, rice, population, income per capita and economical crisis. The elasticity of egg demand toward price elasticity is inelastic in the scale of 0.59. Egg in this district is categorized as a normal goo. This conclusion is based on finding that income per capita is positively correlated toward egg demand with the coefficient of regressionof 0.36. Egg consumption at Sleman district from time to time tends to increase coinciding with the growth of income per capita.Key words : Demand, Egg, Elasticity, Forecasting, Normal Good.
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Wahyuni, Daru, Losina Purnastuti, and Mustofa Mustofa. "ANALISIS ELASTISITAS TIGA BAHAN PANGAN SUMBER PROTEIN HEWANI DI INDONESIA." Jurnal Economia 12, no. 1 (September 12, 2016): 43. http://dx.doi.org/10.21831/economia.v12i1.9544.
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Abstrak: Analisis Elastisitas Tiga Bahan Pangan Sumber Protein Hewani di Indonesia. Penelitian ini bertujuan untuk menganalisis perilaku permintaan rumah tangga atas tiga sumber protein hewani (ikan, daging sapi, dan daging ayam) dikaitkan dengan karakteristik rumah tangga yang berbeda dan menganalisis respon rumah tangga di Indonesia terhadap perubahan harga dan pendapatan pada konsumsi ketiga komoditas tersebut. Model yang digunakan untuk melakukan estimasi adalah model Almost Ideal Demand System (AIDS), dengan menggunakan data dari Indonesia Family Life Survey gelombang 4 (IFLS 4). Jumlah rumah tangga sumber data yang dianalisis dalam penelitian ini berjumlah 839 rumah tangga. Hasil penelitian menunjukkan secara parsial harga ikan, harga daging sapi, pengeluaran rumah tangga, wilayah geografi, dan jumlah anggota keluarga berpengaruh terhadap pangsa pengeluaran untuk produk ikan-ikanan, daging ayam, dan daging sapi. Elastisitas permintaan harga permintaan untuk ikan, daging sapi, dan daging ayam masuk dalam kategori inelastis, elastisitas pendapatan untuk daging sapi dan daging ayam masuk kategori elastis, dan ikan mempunyai elastisitas pendapatan yang inelastic. Kata kunci: model Almost Ideal Demand System (AIDS), elastisitas harga permintaan, elastisitas silang, elastisitas pendapatan. Abstract: Elasticity Analysis for Three Animal Protein Resources in Indonesia. This study aimed to analyze the behavior of household demand on three sources of animal protein (fish, beef, and chicken) were associated with different household characteristics and analyze the response of households in Indonesia to changes in price and income on the consumption of fish, beef, and chicken. Almost Ideal Demand System (AIDS) was adopted in this study, using data from the Indonesia Family Life Survey wave 4 (IFLS 4). Total number of the household analyzed in this study amounted to 839 households. The results showed that partially price of fish, beef prices, household expenditure, geographic region, and number of family members affect the share of expenditure fisheries products, chicken, and beef. The results implied that Price elasticity of demand for demand for fish, beef, and chicken were categorized as inelastic. While the income elasticity for beef and chicken were elastic, furthermore income elasticity for fish was inelastic. Keywords: Almost Ideal Demand System (AIDS) model, demand price elasticity, cross elasticity of demand, income elasticity of demand.
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Bouis, Howartii E. "Food Demand Elasticities by Income Group by Urban and Rural Populations for Pakistan." Pakistan Development Review 31, no. 4II (December 1, 1992): 997–1017. http://dx.doi.org/10.30541/v31i4iipp.997-1017.
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This paper presents food demand elasticity estimates for the Pakistan by urban and rural populations by income quartile for thirteen food groups. Income and price elasticities are estimated using a new food demand estimation technique based on demand for characteristics. This new technique requires far less data than the usual econometric approaches and so may be implemented relatively quickly and costeffectively. However, the resulting demand elasticity estimates depend directly on strong a priori assumptions made concerning food demand behaviour, but assumptions which do not depend on assumptions of weak or strong separability. Rather quite the opposite assumption is made - that the marginal rate of substitution'> between two foods depends directly on the levels of consumption of all other foods. The paper is organised as follows. The first section provides a brief overview of the methodology used for undertaking the demand estimations. The second section discusses the-data used for these estimations and food consumption patterns. The third section presents the demand elasticity estimates.
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Sunaryati, Revi. "Analisis Permintaan Beras di Provinsi Kalimantan Tengah." Daun: Jurnal Ilmiah Pertanian dan Kehutanan 3, no. 2 (July 30, 2018): 99–107. http://dx.doi.org/10.33084/daun.v3i2.151.
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The purpose of this study is to analyzes the factors that influence the function of demand for rice in the province of Central Kalimantan during the last 20 years, and to determine the elasticity of demand for rice in the province of Central Kalimantan.
Purposively making research sites in The Province of Central Kalimantan. Data collected in the form of secondary data that is demand for rice in the province of Central Kalimantan during the last 20 years with methods of literature arid study the documents that have been provided are obtained from agencies 1-nd private or government institutions that are related to this research The data analysis using Cobb Douglas function.
The result of this study is that static analysis model adjusted R2 value of 0.945, which means the proportion of the contribution of independent variables to dependent variable amounted to 94.50%, while the remaining 5.50% is explained by other variables outside the- research such as taste, flavor and consumer Preference. Based on F test variable price of rice, the price of instant noodles, per capita income, population, and education together significantly affected the demand for rice. Based on t-test variable number of people significantly influence demand of rice at the rate of 95%, while per capita income and education variables significantly influence demand for rice at 90% confidence level. The variables specified in the model and does not affect the demand for rice in the Province of Central Kalimantan is the price of rice and the prices of instant noodles. Elasticity of demand for static model based on price elasticity, price inelastic. Based on cross elasticity, the price of instant noodles do not include substitute goods. Based on the income elasticity, per capita income, is inferior.
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Anjani, Septi Rostika, Dwidjono Hadi Darwanto, and Jangkung Handoyo Mulyo. "ANALISIS PERMINTAAN KEDELAI DI INDONESIA." SEPA: Jurnal Sosial Ekonomi Pertanian dan Agribisnis 12, no. 1 (September 5, 2017): 42. http://dx.doi.org/10.20961/sepa.v12i1.14198.
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This study aims to analyze the factors that influence the demand of soybean in Indonesia. The research method uses descriptive analysis of secondary data which includes the price of imported soybeans, the price of chicken, per capita income, the rate of inflation and import tariff policy year period 1980-2013 which sourced from FAO and other sources. Estimation of demand function using multiple linear regression analysis were transformed in the form of natural logarithm. Regression analysis showed that soybean demand in Indonesia was influenced partially by prices of chicken, per capita income, and the rate of inflation. The price elasticity of demand of soybean in Indonesia is inelastic, that is equal 0,22. While the income elasticity of demand for soybeans is positive which means that soy is a staple item for the Indonesian people.
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Devi, Laksmi Yustika, and R. Y. Kun Haribowo Purnomosidi. "Estimation of Demand Elasticity for Food Commodities in Java Island." JEJAK 12, no. 1 (March 10, 2019): 54–67. http://dx.doi.org/10.15294/jejak.v12i1.18430.
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Food availability is a development priority. Along with the increasing population growth, safe and nutritious food is rising. Analysis of food consumption patterns is needed to estimate the demand for agricultural products. This study attempts to analyze consumption patterns and food demand for several commodities in Java by using the 2010-2017 National Socio-Economic Survey data collected by Statistics Indonesia. Results of this study are: 1) the demand for quantity of rice is not elastic to income; (2) the demand for quantity of fresh fish, shrimp, beef and chicken meat is elastic to income; (3) the budget elasticity of fresh fish, shrimp, beef and chicken meat is also large, which means that households will increase the quantity and budget for these three commodities; (4) quantity and budget elasticity in rural are generally greater than urban; (5) in urban areas, budget elasticity is greater than quantity elasticity for all commodities, while in rural, budget elasticity is smaller than quantity elasticity, except for sugar, fresh fish and shrimp; (6) there has been a shift in the proportion of food expenditure on Java, e.g. the proportion of expenditures for grains decreases and the proportion of expenditures for prepared food and beverages increases.
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Kumar, Saten. "Structural Breaks and Exports in the Philippines." Global Economy Journal 9, no. 2 (March 2009): 1850168. http://dx.doi.org/10.2202/1524-5861.1504.
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This paper estimates the export demand equation for the Philippines using the Gregory and Hansen procedure. We allowed for structural breaks within the Gregory and Hansen framework and obtained a cointegrating relationship between real exports, real income and relative prices. Our preferred model is the level shift where all the coefficients are significant and plausible. The income elasticity of export demand is around unity and the relative price elasticity is around -1.2.