Raising food prices and welfare change: a simple calibration

Xiaohua Yu

Applied Economics Letters, 2014, vol. 21, issue 9, 643-645

Abstract: This article proposes a simple and straightforward method which only requires the information of expenditure share and the compensated own price elasticity to calibrate ex ante consumer welfare change due to price change, while specific price information is not required. It is applied to calculate the welfare loss due to recent food price inflation and find that recent food price inflation after January 2009 in the world causes 22%, 14% and 9% welfare loss, respectively, for low-, middle- and high-income countries.

Date: 2014
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DOI: 10.1080/13504851.2013.879281

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