Re-Evaluation of Welfare Changes During the Transition in Poland
The 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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|Date of creation:||01 Jan 2002|
|Publication status:||Published in Post-Communist Economies 2002, vol. 14 no. 1, pp. 31-46|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Atkinson,Anthony Barnes & Micklewright,John, 1992.
"Economic Transformation in Eastern Europe and the Distribution of Income,"
Cambridge University Press, number 9780521438827, January.
- Atkinson,Anthony Barnes & Micklewright,John, 1992. "Economic Transformation in Eastern Europe and the Distribution of Income," Cambridge Books, Cambridge University Press, number 9780521433297, January.
- Neary, J. P. & Roberts, K. W. S., 1980. "The theory of household behaviour under rationing," European Economic Review, Elsevier, vol. 13(1), pages 25-42, January.
- Neary, J.P & Roberts, K.W.S, 1978. "The Theory of Household Behaviour under Rationing," The Warwick Economics Research Paper Series (TWERPS) 132, University of Warwick, Department of Economics.
- James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November.
- Mundlak, Yair & Larson, Donald F, 1992. "On the Transmission of World Agricultural Prices," World Bank Economic Review, World Bank Group, vol. 6(3), pages 399-422, September.
- Podkaminer, Leon, 1988. "Disequilibrium in Poland's consumer markets: Further evidence on intermarket spillovers," Journal of Comparative Economics, Elsevier, vol. 12(1), pages 43-60, March.
- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June. Full references (including those not matched with items on IDEAS)
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