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Prices and Welfare - An Introduction to the Measurement of Well-being when Prices Change (Hardcover, 1st ed. 2019)
Loot Price: R1,589
Discovery Miles 15 890
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Prices and Welfare - An Introduction to the Measurement of Well-being when Prices Change (Hardcover, 1st ed. 2019)
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Total price: R1,609
Discovery Miles: 16 090
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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 Stata for 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.
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