Download or read book A Money Metric Measure of Welfare Change from Multiple Price and Income Changes written by Jesus C. Dumagan and published by . This book was released on 1989 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Measurement of Welfare written by Angus Deaton and published by . This book was released on 1985 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A E Res written by and published by . This book was released on 1991 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring Welfare Changes and Modeling Demand Systems written by Jesus C. Dumagan and published by . This book was released on 1991 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Guidelines for Constructing Consumption Aggregates for Welfare Analysis written by Angus Deaton and published by World Bank Publications. This book was released on 2002-01-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: In September 2001, staff from the World Bank and the International Monetary Fund met with the objective of strengthening collaboration between the two organizations in projects of civil service reform. This strengthened collaboration will have key benefits in ensuring consistency between the conflicting goals of the two organizations, establishing realistic objectives within the reform process, and maintaining a core set of wage and employment data. The principal conclusion arrived at was that World Bank and IMF staff should be engaging in collaboration earlier in the reform process. To guide the collaboration, six foundations were identified. These include: develop a medium-term fiscal framework; foster national ownership by making reforms politically feasible; focus and streamline conditionality; agree on sequencing and timing of reforms; and strengthen data collection. These principals will be tested for effectiveness in several focus countries.
Download or read book The Welfare Economics of Public Policy written by Richard E. Just and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Welfare Economics of Public Policy is a great book that should be of interest to all economists interested in applied welfare analysis. It is a good reference book for economists studying the effects of public policy. Finally, it should be a useful textbook for students studying economic policy and applied welfare economics. Jean-Paul Chavas, American Journal of Agricultural Economics . . . a very comprehensive overview of the state of the art in welfare economics. It can be used as a teaching book for advanced students as well as a reference volume for researchers. This duality of possible uses is supported by the fact that very complex issues are presented in an easily readable manner. More technical aspects are then outlined in the appendices of the relevant chapters, offering colleagues the option to study formal considerations in more detail. . . a welcome addition to and expression of the knowledge base of agricultural economics. Stefan Mann, Journal of Agricultural Economics I am absolutely delighted that the authors have revised and republished this text. I have used the previous version for years in my graduate environmental economics course; usually I had to share the one copy I have with students and I felt it was a shame that these students did not have the opportunity to purchase the book since every serious environmental economist should have this volume on their shelf. It has been a continuous reference volume for me over the years and I am sure this is true of many others in the discipline. In the field of applied welfare analysis (spanning environmental economics, international trade, agricultural policy, etc.) there is no need for further elaboration when Just, Hueth and Schmitz is referenced. Everyone knows the book that is being referred to: the bible of applied welfare economics. Catherine Kling, Iowa State University, US For the record, I am one of the people who requested that the authors revise and re-issue their textbook. It is an extremely valuable book for applied economists; as with the previous edition, I will use it extensively in two of my courses and consult it frequently in my own research endeavors. Richard Adams, Oregon State University, US The original book is very well known in our profession and is still used in many classes. It will be wonderful to have a revised edition of this classic book. Colin Carter, University of California, Davis, US This outstanding text, a follow-up to the authors award-winning 1982 text, provides a thorough treatment of economic welfare theory and develops a complete theoretical and empirical framework for applied project and policy evaluation. The authors illustrate how this theory can be used to develop policy analysis from both theory and estimation in a variety of areas including: international trade, the economics of technological change, agricultural economics, the economics of information, environmental economics, and the economics of extractive and renewable natural resources. Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, the authors develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. Possibilities are presented for (1) approximating WTP with consumer surplus, (2) measuring WTP exactly subject to errors in existing econometric work, and (3) using duality theory to specify econometric equations consistent with theory. Later chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities, and dynamic considerations. Applications are considered explicitly for policy issues related to information, international trade, the environment, agriculture, and other natural resource issues. The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economi
Download or read book Measuring Consumer Welfare with Mean Demands written by Edward E. Schlee and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measures of welfare changes - either the equivalent or compensating variation of a price increase for a good - are often calculated using the expenditure function from an estimated demand. If the regression errors are due to unobserved preference heterogeneity, then then the estimated demand is really an average taken over households with different preferences. And the welfare change calculated from the expenditure function for the mean demand does not generally equal the mean welfare change. We give conditions ensuring that the compensating variation calculated from the mean demand i) equals the mean compensating variation; ii) is less than the mean compensating variation for a price increase; iii) is closer to the mean compensating variation than the change in consumers' surplus. A necessary condition for ii) is that demands become more dispersed as income rises (for each cell of households with the same demographic characteristics and income). This plausible necessary condition is not sufficient for either ii) or iii). If however we can write the indirect utility functions for households as additively separable in income and the preference type, then increasing dispersion is equivalent to ii) and implies iii) if the single good whose price has risen is normal. If households are uncertain of their preferences for goods at the time of the policy change, then the indirect (von Neumann-Morgenstern) utility function must be additively separable in income and the preference type if the compensating variation from the mean demand is even a first-order approximation to the ex ante compensating variation; the change in consumers' surplus can easily be a better approximation when additive separability fails.
Download or read book Money Metric Consumer Surplus and Welfare Measurement written by Claude Hillinger and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides a rigorous derivation of the "welfare triangle approximation" (WTA), which is at the center of cost benefit analysis. The result is generalized by showing that the WTA is one of two dual expressions, one of which approximates the change in real consumption, the other the change in the cost-of-living. The result is based on a correction of a proof attempted by Hicks. Many other derivations are also given, each based on a different definition of the theoretical functions to be approximated. The final result is the following: Each of the empirical variations corresponds to a range of theoretical variations. The edges of the range are theoretical Laspeyres and Paasche variations which are approximated linearly; the interior region of the range is approximated quadratically; the center of the range is replicated exactly by the empirical measures.
Download or read book Expected Consumer s Surplus as an Approximate Welfare Measure written by Edward E. Schlee and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Willig (1976) argues that the change in consumer's surplus is often a good approximation to the willingness to pay for a price change: if the income elasticity of demand is small, or the price change is small, then the percentage error from using consumer's surplus is small. If the price of a good is random, then the change in expected consumer's surplus (ECS) equals a consumer's willingness to pay for a change in its distribution if and only if its demand is independent of income and the consumer is risk neutral. We ask how well the change in ECS approximates the willingness to pay if these conditions fail. We show that the difference between the change in ECS and willingness to pay is of higher order than the L1 distance between the price distributions if and only if the indirect utility function is additively separable in the price and income. If additively separability fails, then the percentage error from using ECS is unbounded for small distribution changes, and is always nonzero in the limit except for knife-edge cases. If, however, the distribution change is smooth on the space of random variables, and either the initial price is nonrandom or state-contingent payments are possible, then the change in ECS might approximate the willingness to pay well. Unfortunately, this smoothness condition necessarily fails in some important applications of ECS.
Download or read book Prices and Welfare written by Abdelkrim Araar and published by Springer. This book was released on 2019-07-17 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a general framework for the use of theoretical contributions in empirical works, addressing the question of what is the effect of a price change on household well-being. This simple question is one of the most relevant and controversial questions in microeconomic theory and one of the main sources of errors in empirical economics. In particular, this book aims to 1) Review the essential microeconomics literature since the first seminal papers by Hicks in the 1930s; 2) Organize and simplify this literature in a way that can be easily used by analysts with different backgrounds providing algebraic, geometric and computational illustrations; 3) identify and measure the essential differences across methods and test how these differences affect empirical results; 4) Provide guidelines for the use of alternative approaches under imperfect information on utility, demand systems, elasticities and more generally incomes and quantities; 5) Provide computational codes in Stata for the application of all methods. The focus of the book is on developing economies and the poor, and the assumptions made will relate primarily to these countries and group of people, presumably the main policy focus of international organizations and national governments.
Download or read book Consumer Price Index Manual written by International Labour Office and published by International Labour Organization. This book was released on 2004-08-25 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
Download or read book Working Papers in Agricultural Economics written by and published by . This book was released on 1990 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring Economic Welfare What and How written by Mr.Marshall B Reinsdorf and published by International Monetary Fund. This book was released on 2020-05-18 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Calls for a more people-focused approach to statistics on economic performance, and concerns about inequality, environmental impacts, and effects of digitalization have put welfare at the top of the measurement agenda. This paper argues that economic welfare is a narrower concept than well-being. The new focus implies a need to prioritize filling data gaps involving the economic welfare indicators of the System of National Accounts 2008 (SNA) and improving their quality, including the quality of the consumption price indexes. Development of distributional indicators of income, consumption, and wealth should also be a priority. Definitions and assumptions can have big effects on these indicators and should be documented. Concerns have also arisen over potentially overlooked welfare growth from the emergence of the digital economy. However, the concern that free online platforms are missing from nominal GDP is incorrect. Also, many of the welfare effects of digitalization require complementary indicators, either because they are conceptually outside the boundary of GDP or impossible to quantify without making uncertain assumptions.
Download or read book Bibliography of Agriculture written by and published by . This book was released on 1990 with total page 886 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Julkaisuja written by and published by . This book was released on 1989 with total page 1468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Index Concepts and Measurement written by W. Erwin Diewert and published by University of Chicago Press. This book was released on 2010-02-15 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the Cost-of-Living Index (COLI) and its controversial role as the methodological foundation for the Consumer Price Index (CPI). Price Index Concepts and Measurements brings together leading experts to address the many questions involved in conceptualizing and measuring inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index, and a variety of other methodological frameworks as the bases for consumer price construction.
Download or read book Handbook of Health Economics written by A J. Culyer and published by Elsevier. This book was released on 2000-07-19 with total page 1000 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Health Economics provide an up-to-date survey of the burgeoning literature in health economics. As a relatively recent subdiscipline of economics, health economics has been remarkably successful. It has made or stimulated numerous contributions to various areas of the main discipline: the theory of human capital; the economics of insurance; principal-agent theory; asymmetric information; econometrics; the theory of incomplete markets; and the foundations of welfare economics, among others. Perhaps it has had an even greater effect outside the field of economics, introducing terms such as opportunity cost, elasticity, the margin, and the production function into medical parlance. Indeed, health economists are likely to be as heavily cited in the clinical as in the economics literature. Partly because of the large share of public resources that health care commands in almost every developed country, health policy is often a contentious and visible issue; elections have sometimes turned on issues of health policy. Showing the versatility of economic theory, health economics and health economists have usually been part of policy debates, despite the vast differences in medical care institutions across countries. The publication of the first Handbook of Health Economics marks another step in the evolution of health economics.
