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- and postreform welfare comparisons. The results for Poland using virtual prices show 62-84 percent decline in welfare over the transition 1987-92. This welfare loss is approximately one-third the value obtained using actual prices.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 11157.
Date of creation: 01 Jan 2002
Date of revision:
Publication status: Published in Post-Communist Economies 2002, vol. 14 no. 1, pp. 31-46
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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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 and 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.
- 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.
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