Re-evaluation of Welfare Changes during the Transition in Poland
AbstractThe costs of shortages/rationing are not captured by standard consumer price indices. Thus the change in real GDP per capita is an over-estimate of welfare losses in transition economies. In this study virtual prices are used to calculate new cost of living indices, making it possible to construct more accurate pre-reform and post-reform welfare comparisons. The results for Poland using virtual prices show 62-84% decline in welfare over the transition 1987-92. This welfare loss is approximately one-third of the value obtained using actual prices.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Post-Communist Economies.
Volume (Year): 14 (2002)
Issue (Month): 1 ()
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Other versions of this item:
- Sonya Kostova Huffman & Stanley R. Johnson, 2000. "Re-evaluation of Welfare Changes during the Transition in Poland," Center for Agricultural and Rural Development (CARD) Publications 00-wp255, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- Sonya Kostova Huffman & Stanley R. Johnson, 2000. "Re-evaluation of Welfare Changes during the Transition in Poland," Food and Agricultural Policy Research Institute (FAPRI) Publications 00-wp255, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
- Huffman, Sonya K. & Johnson, Stanley R., 2002. "Re-Evaluation of Welfare Changes During the Transition in Poland," Staff General Research Papers 11157, Iowa State University, Department of Economics.
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