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Author : Jesus C. Dumagan
Publisher :
ISBN 13 :
Total Pages : 510 pages
Book Rating : 4.E/5 ( download)
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:
Author : Abdelkrim Araar
Publisher : Springer
ISBN 13 : 3030174239
Total Pages : 98 pages
Book Rating : 4.0/5 (31 download)
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.
Author : Mario E. Niklitschek
Publisher :
ISBN 13 :
Total Pages : 226 pages
Book Rating : 4.:/5 (138 download)
Download or read book Exact Welfare Measurement written by Mario E. Niklitschek and published by . This book was released on 1985 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the limitations of consumer surplus have become widely known, there exists a lack of studies which present in a coherent framework recent developments in estimating Hicksian welfare measures. This study attempts to fill partially this gap by analyzing some theoretical and empirical aspects in the estimation of exact welfare measures using market data. Analytical expressions of the "exact" welfare measures, compensating variation (CV) and equivalent variation (EV), for some frequently used single demand equations as well as flexible functional form demand systems are presented. The different magnitudes of benefit estimates generated for the same valuation problem have been a source of important criticism of market related valuation studies. This study compares different functional forms consistent with the restrictions required for the aggregation of consumers and commodities. The results for steelhead rivers in Oregon indicate that the definitional differences in welfare measure (ordinary versus compensated measures) are quite small, which is consistent with the small budget shares that these activities account for a representative household. The results also suggest that the welfare measures may be very sensitive to the formulation of the model. However, the almost ideal demand system (AIDS) and translog indirect utility function demand system (TLOG) produce very close welfare estimates when catch rate, trips and a composite good are considered the commodities yielding utility. The treatment of endogenous quality variables has been a widely discussed issue in the recreation economics and labor economics literatures. In this study, unlike that of Bockstael and McConnell (1981), the demand system is specified as a function of exogenous parameters rather than endogenous implicit prices, avoiding the simultaneity of the demand system and the identification problem. Our empirical results support the comparative static predictions on the price and income elasticities for catch rate per trip and number of trips. A limitation of this study is the restrictive form assumed for the production technology. However, following Strong (1984), our model can be extended to take into account substitution among inputs, non constant returns to scale, and exogenous quality variables. Future research should be directed to study the properties of "exact welfare measures associated with different flexible functional forms. For large economic welfare changes, a global approximation to the underlying utility function as provided by Fourier series might be preferable. The comparisons among different model specifications should be done using rigorous statistical methods including the construction of confidence intervals for the welfare estimates.
Author : Stephen L. Haley
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (31 download)
Download or read book Economic Welfare Analysis written by Stephen L. Haley and published by . This book was released on 1988 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Irina Klytchnikova
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
Download or read book Measuring Welfare Gains from Better Quality Infrastructure written by Irina Klytchnikova and published by . This book was released on 2007 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Projects and reforms targeting infrastructure services can affect consumer welfare through changes in the price, coverage, or quality of the services provided. The benefits of improved service quality-while significant-are often overlooked because they are difficult to quantify. This paper reviews methods of evaluating the welfare implications of changes in the quality of infrastructure services within the broader theoretical perspective of welfare measurement. The study outlines the theoretical assumptions and data requirements involved, illustrating each method with examples that highlight common methodological features and differences. The paper also presents the theoretical underpinnings and potential applications of a new approach to analyzing the effects of interruptions in the supply of infrastructure services on household welfare."--Cover verso.
Author : Wolfgang Eichhorn
Publisher : Springer Science & Business Media
ISBN 13 : 3642790372
Total Pages : 1021 pages
Book Rating : 4.6/5 (427 download)
Download or read book Models and Measurement of Welfare and Inequality written by Wolfgang Eichhorn and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on economic problems connected with measuring and modelling of welfare and inequality has grown rapidly within the last decade. Since this literature is scattered throughout a great number of journals on economics, economic theory, econometrics, and statisties, it is difficult to get an adequate picture of the present state of the art. Therefore books should appear from time to time, which offer a representative cross-section of the latest results of research on: the subject. This book offers such material. It contains 54 articles by 84 authors from four of the five continents. Each paper has been reviewed by two referees. As a conse quence, the contributions of this book are revised versions, or, in many cases, revised revisions of the original papers. The book is divided into four parts. Part I: Measurement of Inequality and Poverty This part contains eleven papers on theory and empirical applications of inequa lity and/or poverty measures. Two contributions deal with, among other things, experimental findings on questions concerning the acceptance of distributional axioms. Part II: Taxation and Redistribution Distributional or, rather, redistributional aspects play an important role in Part II. The topics of the 14 papers included in this part range from tax progressivity and redistribution, allocative consequences of splitting under income taxation, and connections between income tax and cost-of-living indices to merit goods and welfarism as well as to welfare aspects of tax reforms.
Author : Roger von Haefen
Publisher : CreateSpace
ISBN 13 : 9781491258125
Total Pages : 40 pages
Book Rating : 4.2/5 (581 download)
Download or read book BLS Working Papers written by Roger von Haefen and published by CreateSpace. This book was released on 2013-08-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop a demand system approach for estimating preferences for an arbitrarily large set of quality differentiated goods at the individual or household level. We apply the model to an outdoor recreation data set consisting of day trips to 62 beaches in the Mid- Atlantic region and analyze the welfare effects of changes in beach characteristics and availability. Interest in the value of beach recreation opportunities arises from policy makers' need to assess the merits of beach nourishment programs and to measure the damages resulting from acute environmental accidents that impact beach availability. The Hicksian consumer surplus estimates reported in this paper address these issues and represent the first welfare measures derived from a theoretically consistent demand system model that accounts for interior and corner solutions and accommodates a large set of quality differentiated goods.
Author : John Creedy
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Measuring Welfare Changes in Labour Supply Models written by John Creedy and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the computation of welfare measures for use with labour supply models. The standard method of computing compensating and equivalent variations does not allow sufficiently for the nonlinearity of the budget constraint in such models. An alternative method is suggested and applied to contexts in which individuals are allowed to vary their hours continuously and to contexts where only a limited number of discrete hours of work are available. Discrete hours models have in recent years been used in view of the substantial econometric advantages when estimating the parameters of direct utility functions. This type of model is particularly popular in behavioural microsimulation modelling where predicted labour supply responses are calculated for policy changes.
Author : Dieter Bös
Publisher : Springer Science & Business Media
ISBN 13 : 3642733700
Total Pages : 435 pages
Book Rating : 4.6/5 (427 download)
Download or read book Welfare and Efficiency in Public Economics written by Dieter Bös and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hans-Werner Sinn, Munich, West Germany This book contains 15 papers presented at a conference in Neresheim, West Ger many, in June 1986. The articles were selected by anonymous referees and most of them have undergone substantial revisions since their presentation. The common topic is measurement of welfare, both from efficiency and from equity perspectives. For many economists, welfare is a diffuse, arbitrary and am biguous concept. The papers collected in this book show that this view is not justified. Though not beyond all doubt, welfare theory today is crisp and clear, offering fairly straightforward measuring concepts. It even comes up with numbers that measure society's advantage or disadvantage from specific policy options in monetary units. Politicians get something they can intuitively understand and argue with, and they do not have to be afraid that all this is metaphysics or the result of the scientist's personal value judgements. Some economists, whom I would classify as belonging to the "everything is optimal" school, would claim that providing politicians with numerical welfare measures is superfluous or even dangerous. The world is as it is, and any attempt to give policy advice can only make things worse. I do not share this view. There are good policies and there are bad ones, but it may not be easy to distinguish between them. There is a role for consulting politicians, Dr.
Author : A. Myrick Freeman
Publisher : Resources for the Future
ISBN 13 : 9781891853623
Total Pages : 516 pages
Book Rating : 4.8/5 (536 download)
Download or read book The Measurement of Environmental and Resource Values written by A. Myrick Freeman and published by Resources for the Future. This book was released on 2003 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Non-market valuation is becoming increasingly accepted as an evaluative tool of economics related to environmental and resource protection. Freeman (economics, Bowdoin College) presents an overview of the literature, introducing the principal methods and techniques of resource valuation. Chapters cover the measurement of welfare changes, revealed and stated preference models, nonuse models, aggregation of values across time, environmental quality as factor input, longevity and health valuation, property value models, hedonic wage models, and recreational uses of natural resource systems. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).
Author : George W. McKenzie
Publisher : Cambridge University Press
ISBN 13 : 0521248620
Total Pages : 201 pages
Book Rating : 4.5/5 (212 download)
Download or read book Measuring Economic Welfare written by George W. McKenzie and published by Cambridge University Press. This book was released on 1983-03-10 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor McKenzie proposes and formulates a method composed of operational procedures designed to facilitate the evaluation of economic projects and policies. This method is discussed fully, illustrated by simple examples, and compared with alternative procedures. An outline of a computer program that enables readers to undertake their own calculations is included. In order to present the approach clearly, the author provides an exposition of the fundamental ideas and the main alternative approaches to the problem. These rely on various forms of index numbers and consumer surplus. However, as is well known, such measures are not capable of correctly ordering the various alternatives under consideration, except under highly unrealist assumptions. In this book the author suggests the abandonment of this traditional approach based on the concept of 'willingness-to-pay' or the conpensating variation. Instead, the measure that Samuelson has called the 'money-metric' should become the cornerstone of applied welfare economics.
Author : John Creedy
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.3/5 (91 download)
Download or read book Measuring Welfare Changes and Tax Burdens written by John Creedy and published by Edward Elgar Publishing. This book was released on 1998 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an introductory review of alternative concepts and practical approaches to measurement of welfare as well as providing a number of practical examples of welfare analyses in a variety of contexts.
Author : Robert Bacon
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)
Download or read book Measurement of Welfare Changes Caused by Large Price Shifts written by Robert Bacon and published by World Bank Publications. This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Discussion Paper No. 273. This paper discusses the problems of measuring welfare changes caused by large price increases or decreases in the power sector--for example, when tariffs are raised to cover long-term costs or when electrification displaces more expensive alternatives. Traditional methods of measuring welfare changes have centered on the use of the "consumer surplus" as an indicator. But the accuracy rate of this method is high only when income elasticities are low and when relatively small price changes are analyzed. Because the demand for electricity has very high income elasticities in developing countries--which is where very large price shifts usually occur--the paper argues that the consumer surplus can be an unreliable form of measuring the welfare impacts of these price changes. The author provides alternative methods of measurement, showing how the compensating or equivalent variations in income can be calculated whenever the demand curve is available.
Author : Dale Weldeau Jorgenson
Publisher : MIT Press
ISBN 13 : 9780262100632
Total Pages : 476 pages
Book Rating : 4.1/5 (6 download)
Download or read book Welfare: Measuring social welfare written by Dale Weldeau Jorgenson and published by MIT Press. This book was released on 1997 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents an approach to the evaluation of economic policies through the econometric modeling of aggregate consumer behavior. While the preferences of individual consumers are revealed by their market choices, these preferences can be recovered only by econometric methods, not through the index numbers used in the official statistics. The richer and more robust methodology presented in this volume provides a fruitful point of departure for future policy evaluations. The econometric approach replaces ordinal measures of individual welfare that cannot be compared among individuals with cardinal measures that can. These are combined into an indicator of social welfare that reflects principles of horizontal and vertical equity. This approach unifies the measurement of poverty, inequality, and cost and standard of living. It extends the scope of normative economics to a broader range of issues in the evaluation of economic and social policies.
Author : R. W. Blundell
Publisher : Cambridge University Press
ISBN 13 : 0521451957
Total Pages : 295 pages
Book Rating : 4.5/5 (214 download)
Download or read book The Measurement of Household Welfare written by R. W. Blundell and published by Cambridge University Press. This book was released on 1994-09-15 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The measurement of household welfare is one of the most compelling yet demanding areas in economics. To place the analysis of inequality and poverty within an economic framework where individuals are making decisions about current and lifetime incomes and expenditures is a difficult task, made all the more challenging by the complexity of the decision-making process in which households are involved and the variety of constraints they face. This 1994 book examines the conceptual and practical difficulties of making inferences from observed behaviour. It addresses the problems of making comparisons across a range of very different households and discusses how data for such comparisons should be collected. The contributions, from experts from Europe, North America and Australia, have the unifying theme that there is a strong relationship between theoretical concepts from microeconomics and the appropriate use of micro data in evaluating household welfare.
Author : Stephen Redding
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (954 download)
Download or read book A Unified Approach to Estimating Demand and Welfare written by Stephen Redding and published by . This book was released on 2016 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The measurement of price changes, economic welfare, and demand parameters is currently based on three disjoint approaches: macroeconomic models derived from time-invariant utility functions, microeconomic estimation based on time-varying utility (demand) systems, and actual price and real output data constructed using formulas that differ from either approach. The inconsistencies are so deep that the same assumptions that form the foundation of demand-system estimation can be used to prove that standard price indexes are incorrect, and the assumptions underlying standard exact and superlative price indexes invalidate demand-system estimation. In other words, we show that extant micro and macro welfare estimates are biased and inconsistent with each other as well as the data. We develop a unified approach to demand and price measurement that exactly rationalizes observed micro data on prices and expenditure shares while permitting exact aggregation and meaningful macro comparisons of welfare over time. We show that all standard price indexes are special cases of our approach for particular values of the elasticity of substitution, constant preferences for each good, and a constant set of goods. In contrast to these standard index numbers, our approach allows us to compute changes in the cost of living that take into account both changes in the preferences for individual goods and the entry and exit of goods over time. Using barcode data for the U.S. consumer goods industry, we show that allowing for the entry and exit of products, changing preferences for individual goods, and a value for the elasticity of substitution estimated from the data yields substantially different conclusions for changes in the cost of living from standard index numbers.
Author : John Creedy
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781959503
Total Pages : 358 pages
Book Rating : 4.9/5 (595 download)
Download or read book Taxation and Economic Behaviour: Introductory surveys in economics written by John Creedy and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume offers a number of broad introductory surveys in public economics and public finance. Divided clearly into two parts -measurement issues and taxation and economic behaviour - the collection consists of published refereed papers and several unpublished pieces.
