Re-evaluation of Welfare Changes during the Transition in Poland
AbstractThe costs of shortages and rationing are not captured by standard consumer price indices. Thus the change in real gross domestic product (GDP) per capita is an overestimate of welfare losses in transition economies. In this study the authors use virtual prices to calculate new cost-of-living indices, making it possible to construct more accurate pre- and post-reform welfare comparisons. The results for Poland using virtual prices show a 62 to 84 percent decline in welfare over the transition period of 1987 to 1992. This welfare loss is approximately one-third the value obtained using actual prices.
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Bibliographic InfoPaper provided by Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University in its series Food and Agricultural Policy Research Institute (FAPRI) Publications with number 00-wp255.
Date of creation: Nov 2000
Date of revision:
Other versions of this item:
- Sonya Kostova Huffman & Stanley Johnson, 2002. "Re-evaluation of Welfare Changes during the Transition in Poland," Post-Communist Economies, Taylor & Francis Journals, vol. 14(1), pages 31-46.
- 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.
- 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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