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Prices and Welfare

An Introduction to the Measurement of Well-being when Prices Change

  • Book
  • © 2019

Overview

Authors:
  1. Abdelkrim Araar

    1. Pavillon J. A. De Sève, Office 2190, Laval University, Quebec, Canada

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    You can also search for this author in PubMed   Google Scholar

  2. Paolo Verme

    1. The World Bank, Washington DC, USA

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    You can also search for this author in PubMed   Google Scholar

  • Provides essential guidelines to model price changes and their impact on well-being
  • Provides a clear summary of the main economic contributions to the literature on prices and welfare
  • Provides an appendix with all Stata codes for all key computations

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Table of contents (5 chapters)

  1. Front Matter

    Pages i-xvii
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  2. Introduction

    • Abdelkrim Araar, Paolo Verme
    Pages 1-7

  3. Assumptions and Measures

    • Abdelkrim Araar, Paolo Verme
    Pages 9-17

  4. Theory and Computation

    • Abdelkrim Araar, Paolo Verme
    Pages 19-46

  5. Empirical Applications

    • Abdelkrim Araar, Paolo Verme
    Pages 47-74

  6. Conclusion

    • Abdelkrim Araar, Paolo Verme
    Pages 75-78

  7. Back Matter

    Pages 79-98
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Keywords

About this book

This book provides a general framework for the use of theoretical contributions in empirical works, addressing the question of what is the effect of a price change on household well-being. This simple question is one of the most relevant and controversial questions in microeconomic theory and one of the main sources of errors in empirical economics. In particular, this book aims to 1) Review the essential microeconomics literature since the first seminal papers by Hicks in the 1930s; 2) Organize and simplify this literature in a way that can be easily used by analysts with different backgrounds providing algebraic, geometric and computational illustrations; 3) identify and measure the essential differences across methods and test how these differences affect empirical results; 4) Provide guidelines for the use of alternative approaches under imperfect information on utility, demand systems, elasticities and more generally incomes and quantities; 5) Provide computational codes in Statafor the application of all methods. The focus of the book is on developing economies and the poor, and the assumptions made will relate primarily to these countries and group of people, presumably the main policy focus of international organizations and national governments.

Authors and Affiliations

  • Pavillon J. A. De Sève, Office 2190, Laval University, Quebec, Canada

    Abdelkrim Araar

  • The World Bank, Washington DC, USA

    Paolo Verme

About the authors

Abdelkrim Araar is Researcher at Laval University, Quebec City, Canada.

Paolo Verme is Lead Economist at the World Bank, Washington D.C., USA


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