Why is food cheaper in rich (European) countries?
Relative to non-food items, food tends to be cheaper in rich, as compared with poorEuropean countries. This tendency cannot be explained in terms of cost developments or foreign-trade considerations. A positive explanation proposed focuses on demand-income-supply interaction. An analysis of a cross-...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2004-09-01
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| Series: | PSL Quarterly Review |
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| Online Access: | http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9830/9715 |
| _version_ | 1811269614973222912 |
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| author | Leon Podkaminer |
| author_facet | Leon Podkaminer |
| author_sort | Leon Podkaminer |
| collection | DOAJ |
| description | Relative to non-food items, food tends to be cheaper in rich, as compared with poorEuropean countries. This tendency cannot be explained in terms of cost developments or foreign-trade considerations. A positive explanation proposed focuses on demand-income-supply interaction. An analysis of a cross-country price-augmented modification of Engel Law, econometrically specified, indicates that the relative price offood is related positively to the supply of food items and negatively to that of non-food items. This finding is consistent with "agricultural price scissors", and also casts a different light on the nature of economic development and structural change. |
| first_indexed | 2024-04-12T21:45:16Z |
| format | Article |
| id | doaj.art-1d76f961f76748599056c269b97328c4 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-12T21:45:16Z |
| publishDate | 2004-09-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-1d76f961f76748599056c269b97328c42022-12-22T03:15:38ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432004-09-0157230297327Why is food cheaper in rich (European) countries?Leon PodkaminerRelative to non-food items, food tends to be cheaper in rich, as compared with poorEuropean countries. This tendency cannot be explained in terms of cost developments or foreign-trade considerations. A positive explanation proposed focuses on demand-income-supply interaction. An analysis of a cross-country price-augmented modification of Engel Law, econometrically specified, indicates that the relative price offood is related positively to the supply of food items and negatively to that of non-food items. This finding is consistent with "agricultural price scissors", and also casts a different light on the nature of economic development and structural change.http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9830/9715FoodPrices |
| spellingShingle | Leon Podkaminer Why is food cheaper in rich (European) countries? PSL Quarterly Review Food Prices |
| title | Why is food cheaper in rich (European) countries? |
| title_full | Why is food cheaper in rich (European) countries? |
| title_fullStr | Why is food cheaper in rich (European) countries? |
| title_full_unstemmed | Why is food cheaper in rich (European) countries? |
| title_short | Why is food cheaper in rich (European) countries? |
| title_sort | why is food cheaper in rich european countries |
| topic | Food Prices |
| url | http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9830/9715 |
| work_keys_str_mv | AT leonpodkaminer whyisfoodcheaperinricheuropeancountries |