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Impacts of Economic Reform in Poland: Incidence and Welfare Changes Within a Consistent Framework

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  • Huffman, Sonya K.
  • Johnson, Stanley R.

Abstract

The costs of shortages and 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 (CLI). The results for Poland show that over 1987 to 1992 the CLI ignoring the rationing effects is biased upward from 1.53 to 3.71 percentage points per year. Compared to the estimates of welfare loss that neglect the rationing effects during the prereform period, the estimated welfare losses that reflect the rationing are reduced by 50 percent using Hausmanï¾’s virtual prices and by 75 percent using external proxy virtual prices.

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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 11158.

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Date of creation: 01 May 2004
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Publication status: Published in Review of Economics and Statistics, May 2004, vol. 86 no. 2, pp. 626-636
Handle: RePEc:isu:genres:11158

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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Cited by:
  1. Huffman, Sonya Kostova & Johnson, Stanley R., 2004. "Empirical tests of impacts of rationing: the case of Poland in transition," Economic Systems, Elsevier, vol. 28(1), pages 79-99, March.
  2. Sonya K Huffman & Marian Rizov, 2010. "The Rise of Obesity in Transition Economies: Theory and Evidence from the Russian Longitudinal Monitoring Survey," Working Papers id:2473, eSocialSciences.
  3. Lerman, Zvi & Kislev, Yoav & Kriss, Alon & Biton, David, 2001. "Agricultural Output And Productivity In The Former Soviet Republic," Discussion Papers 14999, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
  4. Taniguchi, Kiyoshi, 2001. "A General Equilibrium Analysis Of Japanese Rice Market Trade Liberalization," 2001 Annual meeting, August 5-8, Chicago, IL 20660, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Huffman, Sonya Kostova & Rizov, Marian, 2008. "The rise of obesity in transition economies: theory and evidence from Russian longitudinal monitoring survey," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6556, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  6. Blanchard, O & Kremer, M, 1996. "Disorganization," Working papers 96-30, Massachusetts Institute of Technology (MIT), Department of Economics.
  7. Huffman, Sonya K. & Rizov, Marian, 2007. "Determinants of Obesity in Transition Economies: The Case of Russia," Staff General Research Papers 12830, Iowa State University, Department of Economics.
  8. Fleissig, Adrian R. & Whitney, Gerald, 2013. "Virtual prices and the impact of house rationing in Belgium on consumer choices," Explorations in Economic History, Elsevier, vol. 50(2), pages 308-315.
  9. Lerman, Zvi & Kislev, Yoav & Kriss, Alon & Biton, David, 2001. "Agricultural Output And Productivity In The Former Soviet Republics," 2001 Annual meeting, August 5-8, Chicago, IL 20471, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  10. Huffman, Sonya Kostova & Ishdorj, Ariun & Jensen, Helen H., 2005. "Consumer Choices and Welfare Gains from New, Healthy Products: A Virtual Price Approach," 2005 Annual meeting, July 24-27, Providence, RI 19351, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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