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A path independent decomposition of the equivalent variation

Author

Listed:
  • Alexandre Gohin

    (Department of Economics, INRA Rennes)

Abstract

This paper proposes a new decomposition of welfare effects simulated by Computable General Equilibrium (CGE) models. Rather than relying on first order approximations, our approach is based on Taylor series approximations of CGE specifications and thus is path independent. This decomposition is useful for explaining the effects of large economic shocks, like international trade agreements.

Suggested Citation

  • Alexandre Gohin, 2006. "A path independent decomposition of the equivalent variation," Economics Bulletin, AccessEcon, vol. 4(6), pages 1-8.
    • Handle: RePEc:ebl:ecbull:eb-05d50002
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    More about this item

    Keywords

    computable general equilibrium model;

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • F1 - International Economics - - Trade

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