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On Measuring Consumer Welfare Effects of Trade Reform

Author

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  • Huang, Sophia Wu
  • Huang, Kuo S.

Abstract

We develop a measure of consumer welfare by approximating Hicksian compensating variation as a function of all commodity prices and compensated price elasticities. The unique feature of this approach is that all direct- and cross-commodity effects of a demand system are incorporated into the welfare measurement. This approach is useful for developing an instrumental model to evaluate the consumer welfare effects of trade reform. For illustration, the proposed procedure is applied to Taiwan's meat industry, and various scenarios are considered to show the effects of eliminating meat tariff rates on the quantities of meat demanded and on the savings of meat expenditures.

Suggested Citation

  • Huang, Sophia Wu & Huang, Kuo S., 2006. "On Measuring Consumer Welfare Effects of Trade Reform," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25480, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae06:25480
    DOI: 10.22004/ag.econ.25480
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    Cited by:

    1. Qianhui Gao & Shoichi Ito & Kolawole Ogundari & Hisamitsu Saito, 2016. "Evaluating Welfare Effects of Rice Import Quota in Japan: Based on Measuring Non-Tariff Barriers of SBS Rice Imports," Sustainability, MDPI, vol. 8(8), pages 1-13, August.

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