Uncertainty about Welfare Effects of Consumption Fluctuations
Romain Houssa ()
No 1101, Working Papers from University of Namur, Department of Economics
This paper proposes Bayesian estimates for welfare effects of consumption fluctuations and growth. Annual data from 82 developed and developing countries indicate a large degree of uncertainty as regards point estimates. Moreover, the comparison between the welfare gain from consumption stabilization and the welfare gain from growth yields inconclusive results for many developed and developing countries. These findings suggest the need for caution in drawing policy conclusions from point estimates.
Keywords: Business Cycles; Growth Welfare (search for similar items in EconPapers)
Pages: 37 pages
New Economics Papers: this item is included in nep-fdg and nep-mac
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http://www.fundp.ac.be/eco/economie/recherche/wpseries/wp/1101.pdf First version, 2010 (application/pdf)
Journal Article: Uncertainty about welfare effects of consumption fluctuations (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:nam:wpaper:1101
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