Dear all,
I want to estimate demand for chicken accounting for seasonal dummies (quarterly dummies). I have chosen log log functional form and the findings are below:
Ln(demand for chicken)= 17.05-0.50(lnpricechicken) -.167 (lnpricepork)+ .822 (lnpriceturkey)+ 0.217(lnpricebeef) -0.396 (lngdp) -.044Q1+ .0388Q2+.009Q3
Now, here, I want to estimate own price elasticity and cross-price elasticity. Is there any command in stata that gives me own or cross-price/income elasticity, perhaps something like margins or dydx?
I know this is not a discussion forum for this but in general, are the following calculation from the log-log functional form correct:
Own price elasticity of chicken=-0.50
Cross price elasticity with respect to pork=-0.167
Income elasticity=-0.396
Are the above elasticity calculation correct? Or in the case of cross elasticity, I have to add constant and -0.50 (own price coefficient) as well? Please guide.
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