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Measuring the Welfare Effects of Price Changes: A Convenient Parametric Approach

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  • Creedy, J.

Abstract

This paper describes a method of estimating the welfare effects of a set of price changes, using money measures of welfare change such as compensating and equivalent variations, and the associated concept of "equivalent income".

Suggested Citation

  • Creedy, J., 1996. "Measuring the Welfare Effects of Price Changes: A Convenient Parametric Approach," Department of Economics - Working Papers Series 536, The University of Melbourne.
  • Handle: RePEc:mlb:wpaper:536
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    References listed on IDEAS

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    1. Campbell, John Y, 1987. "Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis," Econometrica, Econometric Society, vol. 55(6), pages 1249-1273, November.
    2. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    3. Otto, Glenn, 1992. "Testing a present-value model of the current account: Evidence from US and Canadian time series," Journal of International Money and Finance, Elsevier, vol. 11(5), pages 414-430, October.
    4. Geweke, John & Meese, Richard, 1981. "Estimating regression models of finite but unknown order," Journal of Econometrics, Elsevier, pages 162-162.
    5. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, January.
    6. de Bartolome, Charles A. M., 1995. "Which tax rate do people use: Average or marginal?," Journal of Public Economics, Elsevier, vol. 56(1), pages 79-96, January.
    7. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-971, October.
    8. Ghosh, Atish R, 1995. "International Capital Mobility amongst the Major Industrialised Countries: Too Little or Too Much?," Economic Journal, Royal Economic Society, vol. 105(428), pages 107-128, January.
    9. Ghosh, Atish R, 1995. "Intertemporal Tax-Smoothing and the Government Budget Surplus: Canada and the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1033-1045, November.
    10. Sheffrin, Steven M. & Woo, Wing Thye, 1990. "Present value tests of an intertemporal model of the current account," Journal of International Economics, Elsevier, vol. 29(3-4), pages 237-253, November.
    11. Kingston, Geoffrey H & Layton, Allan P, 1986. "The Tax Smoothing Hypothesis: Some Australian Empirical Results," Australian Economic Papers, Wiley Blackwell, vol. 25(47), pages 247-251, December.
    12. Huang, Chao-Hsi & Lin, Kenneth S., 1993. "Deficits, government expenditures, and tax smoothing in the United States: 1929-1988," Journal of Monetary Economics, Elsevier, vol. 31(3), pages 317-339, June.
    13. Alberto Alesina & Roberto Perotti, 1995. "The Political Economy of Budget Deficits," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 1-31, March.
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    Citations

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    Cited by:

    1. John Creedy & Catherine Sleeman, 2006. "Indirect Taxation and Progressivity: Revenue and Welfare Changes," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 62(1), pages 50-67, March.
    2. Creedy, John & Sleeman, Catherine, 2006. "Carbon taxation, prices and welfare in New Zealand," Ecological Economics, Elsevier, vol. 57(3), pages 333-345, May.
    3. Nganou, Jean-Pascal, 2005. "Estimation of the parameters of a linear expenditure system (LES) demand function for a small African economy," MPRA Paper 31450, University Library of Munich, Germany.
    4. Christopher Ball & John Creedy & Michael Ryan, 2016. "Food expenditure and GST in New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 50(2), pages 115-128, August.
    5. Mohsin, Asma & Zaman, Khalid, 2012. "Distributional effects of rising food prices in Pakistan: Evidence from HIES 2001–02 and 2005–06 survey," Economic Modelling, Elsevier, vol. 29(5), pages 1986-1995.
    6. John Creedy, 2001. "Indirect tax reform and the role of exemptions," Fiscal Studies, Institute for Fiscal Studies, vol. 22(4), pages 457-486., December.
    7. John Creedy & Cath Sleeman, 2005. "Excise taxation in New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 39(1), pages 1-35.
    8. Christopher Ball & Michael Ryan, 2013. "New Zealand Households and the 2008/09 Recession," Treasury Working Paper Series 13/05, New Zealand Treasury.
    9. John Creedy, 2004. "The Effects on New Zealand Households of an Increase in The Petrol Excise Tax," Treasury Working Paper Series 04/01, New Zealand Treasury.

    More about this item

    Keywords

    EVALUATION; PRICES; SOCIAL WELFARE;

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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