A path independent decomposition of the equivalent variation

This paper proposes a new decomposition of welfare effects simulated by Computable General Equilibrium (CGE) models. Rather than relying on first order approximations, our approach is based on Taylor series approximations of CGE specifications and thus is path independent. This decomposition is useful for explaining the effects of large economic shocks, like international trade agreements.

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Year of publication:	2006-02-01
Authors:	Gohin, Alexandre
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 4.2006, 6, p. 1-8
Publisher:	AccessEcon
Subject:	computable general equilibrium model

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Extent:	application/pdf
Type of publication:	Article
Classification:	D5 - General Equilibrium and Disequilibrium ; F1 - Trade
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010629943