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GTAP Resource #498

"A General Welfare Decomposition for CGE Models"
by Hanslow, Kevin


Abstract
January 2000

Huff and Hertel (2001) derive a welfare decomposition for the equivalent variation in the GTAP model. The derivation appears to be very specific to GTAP. Nevertheless, it contains nearly all the ingredients required for performing welfare decomposition for any CGE model.
In this paper, the approach of Huff and Hertel (2001) is generalised to derive a welfare decomposition that can be applied to most, if not all, CGE models. General production and utility functions are accommodated, as are foreign income flows.
A brief guide to coding the proposed welfare decomposition in GEMPACK is also provided. The decomposition is applied to decomposing the equivalent variation in GTAP.


Resource Details (Export Citation) GTAP Keywords
Category: Technical Paper
Status: Published
By/In: GTAP Technical Paper No. 19
Date: 2000
Cite Avg: 2 (based on Google Scholar "Cited by" number)
Version: 1.0
Created: (3/14/2001)
Updated: Hertel, T. (1/2/2002)
Visits: 8,290
No keywords have been specified.


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