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A welfare decomposition in quasi-linear economies

Listed author(s):
  • Furusawa, Taiji
  • Konishi, Hideo

We propose a decomposition of social welfare when consumers' preferences are described by quasi-linear utility functions. In our decomposition, social welfare is expressed as the sum of consumers' gross utilities and trade surplus of non-numeraire goods, whose consumption enters utility functions non-linearly. This decomposition is useful especially when we assess the impact of trade liberalization on individual countries. We propose a decomposition of social welfare when consumers' preferences are described by quasi-linear utility functions. In our decomposition, social welfare is expressed as the sum of consumers' gross utilities and trade surplus of non-numeraire goods, whose consumption enters utility functions non-linearly. This decomposition is useful especially when we assess the impact of trade liberalization on individual countries.

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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 85 (2004)
Issue (Month): 1 (October)
Pages: 29-34

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Handle: RePEc:eee:ecolet:v:85:y:2004:i:1:p:29-34
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Glenn W. Harrison & Thomas F. Rutherford & Ian Wooton, 1993. "An Alternative Welfare Decomposition for Customs Unions," Canadian Journal of Economics, Canadian Economics Association, vol. 26(4), pages 961-968, November.
  2. Kowalczyk, Carsten, 2000. "Welfare and Integration," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(2), pages 483-494, May.
  3. Kyle Bagwell & Robert W. Staiger, 1997. "An Economic Theory of GATT," NBER Working Papers 6049, National Bureau of Economic Research, Inc.
  4. Kyle Bagwell & Robert W. Staiger, 1997. "Reciprocity, Non-discrimination and Preferential Agreements in the Multilateral Trading System," NBER Working Papers 5932, National Bureau of Economic Research, Inc.
  5. Taiji Furusawa & Hideo Konishi, 2002. "Free Trade Networks," Boston College Working Papers in Economics 548, Boston College Department of Economics, revised 08 Sep 2003.
  6. Paul R. Krugman, 1991. "The move toward free trade zones," Economic Review, Federal Reserve Bank of Kansas City, issue Nov, pages 5-25.
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