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Raising food prices and welfare change: a simple calibration

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  • Xiaohua Yu

Abstract

This article proposes a simple and straightforward method which only requires the information of expenditure share and the compensated own price elasticity to calibrate ex ante consumer welfare change due to price change, while specific price information is not required. It is applied to calculate the welfare loss due to recent food price inflation and find that recent food price inflation after January 2009 in the world causes 22%, 14% and 9% welfare loss, respectively, for low-, middle- and high-income countries.

Suggested Citation

  • Xiaohua Yu, 2014. "Raising food prices and welfare change: a simple calibration," Applied Economics Letters, Taylor & Francis Journals, vol. 21(9), pages 643-645, June.
    • Handle: RePEc:taf:apeclt:v:21:y:2014:i:9:p:643-645
    DOI: 10.1080/13504851.2013.879281
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    References listed on IDEAS

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    1. Jed Friedman & James Levinsohn, 2002. "The Distributional Impacts of Indonesia's Financial Crisis on Household Welfare: A "Rapid Response" Methodology," The World Bank Economic Review, World Bank, vol. 16(3), pages 397-423, December.
    2. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.
    3. Stefan Meyer & Xiaohua Yu, 2013. "The impacts of production uncertainties on world food prices," China Agricultural Economic Review, Emerald Group Publishing Limited, vol. 5(4), pages 459-472, November.
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    Cited by:

    1. Yan, Zhen & Yu, Xiaohua & Zhou, Jiehong, 2016. "Measure consumer preferences for pork attributes under different media coverage in China," GlobalFood Discussion Papers 232028, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    2. Xiaohua Yu & Satoru Shimokawa, 2016. "Nutritional impacts of rising food prices in African countries: a review," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 8(5), pages 985-997, October.
    3. Wang, Hanjie & Feil, Jan-Henning & Yu, Xiaohua, 2021. "Disagreement on sunspots and soybeans futures price," Economic Modelling, Elsevier, vol. 95(C), pages 385-393.
    4. Mumtaz, Zahid & Roumpakis, Antonios & Sumarto, Mulyadi, 2023. "Overcoming hybridisation in global welfare regime classifications: lessons from a single case study," LSE Research Online Documents on Economics 120761, London School of Economics and Political Science, LSE Library.
    5. Jasmin Wehner & Xiaohua Yu, 2023. "Carbon tax on milk products and the exact consumer welfare measure in emerging economies," Agribusiness, John Wiley & Sons, Ltd., vol. 39(S1), pages 1595-1623, December.
    6. Yu, Xiaohua, 2014. "Monetary easing policy and long-run food prices: Evidence from China," Economic Modelling, Elsevier, vol. 40(C), pages 175-183.

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