Raising food prices and welfare change: a simple calibration
This article proposes a simple and straightforward method which only requires the information of expenditure share and the compensated own price elasticity to calibrate <italic>ex ante</italic> consumer welfare change due to price change, while specific price information is not required. It is applied to calculate the welfare loss due to recent food price inflation and find that recent food price inflation after January 2009 in the world causes 22%, 14% and 9% welfare loss, respectively, for low-, middle- and high-income countries.
Year of publication: |
2014
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Authors: | Yu, Xiaohua |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 21.2014, 9, p. 643-645
|
Publisher: |
Taylor & Francis Journals |
Saved in:
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