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Measuring Changes in the Gains from Trade-A Contribution to Applied Welfare Economics

In: The Economics of Relative Prices

Author

Listed:
  • Maria Constantopoulos

    (Athens School of Economics and Business Science)

  • George E. Drakos

    (Piraeus School of Industrial Studies and Bank of Greece)

Abstract

The special contribution of this paper is three-fold. First, it presents an alternative to the conventional measure of the welfare effects of changes in the commodity terms of trade, which we believe is a superior measure. Second, it goes on to cover welfare gains from international transfers and loans. Third, it attempts to measure these welfare gains for Greece over the last two decades, comparing the result with those of the conventional measure, and estimating welfare gains and losses in terms of the Greek national income.

Suggested Citation

  • Maria Constantopoulos & George E. Drakos, 1984. "Measuring Changes in the Gains from Trade-A Contribution to Applied Welfare Economics," International Economic Association Series, in: Béla Csikós-Nagy & Douglas Hague & Graham Hall (ed.), The Economics of Relative Prices, chapter 19, pages 454-488, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-06265-2_19
    DOI: 10.1007/978-1-349-06265-2_19
    as

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