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

Maria Constantopoulos and George E. Drakos
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Maria Constantopoulos: Athens School of Economics and Business Science
George E. Drakos: Piraeus School of Industrial Studies and Bank of Greece

Chapter 19 in The Economics of Relative Prices, 1984, pp 454-488 from Palgrave Macmillan

Abstract: 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.

Keywords: Welfare Effect; Structural Adjustment; Factor Price; Welfare Gain; Real Cost (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-06265-2_19

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DOI: 10.1007/978-1-349-06265-2_19

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