A general equilibrium analysis of partial-equilibrium welfare measures: The case of climate change

Journal Article · Mon Jun 01 00:00:00 EDT 1987 · American Economic Review; (USA)

OSTI ID:6958113

Kokoski, M F; Smith, V K ^[1]

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1. Bureau of Labor Statistics, Washington, DC (USA)

This paper uses computable general equilibrium models to demonstrate that partial-equilibrium welfare measures can offer reasonable approximations of the true welfare changes for large exogenous changes. With consistency in the size and direction of the indirect price effects associated with large shocks, single sector partial-equilibrium measures will exhibit small errors. Otherwise the errors can be substantial and difficult to sign.

• OSTI ID: 6958113
• Journal Information: American Economic Review; (USA), Vol. 77:3; ISSN 0002-8282
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
GREENHOUSE EFFECT
SOCIO-ECONOMIC FACTORS
CARBON DIOXIDE
ECONOMIC ANALYSIS
EQUILIBRIUM
MATHEMATICAL MODELS
PRICES
CARBON COMPOUNDS
CARBON OXIDES
CHALCOGENIDES
ECONOMICS
INSTITUTIONAL FACTORS
OXIDES
OXYGEN COMPOUNDS
290200* - Energy Planning & Policy- Economics & Sociology
290300 - Energy Planning & Policy- Environment
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