MICROECONOMIC REFORM AND INCOME DISTRIBUTION: THE CASE OF AUSTRALIAN PORTS AND RAIL FREIGHT

George Verikios and Xiao-Guang Zhang

Contemporary Economic Policy, 2015, vol. 33, issue 1, 159-175

Abstract: type="main" xml:id="coep12059-abs-0001"> We analyze structural changes in the Australian ports and rail freight industries that were driven by microeconomic reform; we find such reforms may generate welfare gains with reduced inequality. We estimate the effects on household income groups of these industry changes by applying a computable general equilibrium model incorporating microsimulation behavior. The structural changes lead to a small increase in household welfare in most regions, with an overall increase of 0.18%, and a small decrease in inequality. Our analysis suggests that policy makers in Australia and other high-income nations should give serious consideration to microeconomic reform of infrastructure industries . ( JEL C68, C69, D31, L92)

Date: 2015
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