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The problem addressed in this article is the bias to income and expenditureelasticities estimated on pseudo-panel data caused by measurement error andunobserved heterogeneity. We gauge empirically these biases by comparingcross-sectional, pseudo-panel and true panel data from both Polish and Americanexpenditure surveys. Our results suggest that unobserved heterogeneity impartsa downward bias to cross-section estimates of income elasticities of at-homefood expenditures and an upward bias to estimates of income elasticities ofaway-from-home food expenditures. "Within" and first-difference estimatorssuffer less bias, but only if the effects of measurement error are accountedfor with instrumental variables.

Panel and Pseudo-Panel Estimation of Cross-Sectional and Time Series Elasticities of Food Consumption: The Case of American and Polish Data