Short-run expenditure and price elasticities for agricultural commodities: The case of Greece, 1951–1983

Abstract

The purpose of this paper is to examine consumption patterns of the Greek consumer for agricultural and nonagricultural commodities by estimating a complete system of expend iture equations. The estimated expenditure and price elasticities of demand show that demand for agricultural commodities is income and pr ice inelastic, and that for nonagricultural commodities it is income elastic but price inelastic. The cross-price effects, both compensate d and uncompensated, appear to be strong between agricultural and non agricultural commodities and less significant among the agricultural commodities by themselves. Copyright 1987 by Oxford University Press.