On the effects of technology improvements in multi-market models: Theory and evidence
Dimitrios Dadakas (),
Stelios Katranidis () and
David Bullock ()
Discussion Paper Series from Department of Economics, University of Macedonia
The purpose of this paper is to develop the methodology that allows the inclusion of a technology variable in multi-market welfare models. We compare the price induced welfare effects obtained from a multimarket technology-inclusive model, a multimarket technology-exclusive model and a single-market model. An application to the Greek cotton market shows that the omission of the effects of technology biases the estimated welfare effects. Moreover, welfare estimates from the multi-market approach carry superior statistical properties than estimates obtained from the single-market approach.
Keywords: Multi-Market; Single Market; Technology; Bootstrap; Trade Liberalization. (search for similar items in EconPapers)
JEL-codes: D6 F1 C0 (search for similar items in EconPapers)
Date: 2009-03, Revised 2009-03
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Persistent link: https://EconPapers.repec.org/RePEc:mcd:mcddps:2009_04
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