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On Measuring the Welfare Gains from Trade Under Consumer Heterogeneity.
In: Economic Journal, Jg. 126 (2016-06-01), Heft 593, S. 1193-1237
Online
academicJournal
Zugriff:
I develop a multi-country, multi-industry model of trade that features heterogeneous consumers with non-homothetic preferences. I use the model to quantify the measurement errors in the welfare gains estimates caused by the assumption of a representative consumer (ARC). First, I reduce the world level of all trade costs by 15% and find that ARC overestimates (underestimates) the gains of the poor (rich) by up to 5 (11) percentage points. Second, I eliminate import tariffs around the globe and show that the loss of tariff revenues is not negligible for some consumers and that the measurement errors from ARC are between −15 and 4% points. [ABSTRACT FROM AUTHOR]
Titel: |
On Measuring the Welfare Gains from Trade Under Consumer Heterogeneity.
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Autor/in / Beteiligte Person: | Nigai, Sergey |
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Zeitschrift: | Economic Journal, Jg. 126 (2016-06-01), Heft 593, S. 1193-1237 |
Veröffentlichung: | 2016 |
Medientyp: | academicJournal |
ISSN: | 0013-0133 (print) |
DOI: | 10.1111/ecoj.12192 |
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