Measurement of Consumer Gains from Market Stabilization

Consumer Gains from Direct Broadcast Satellite and the Market Power of Cable

On Measuring the Welfare Gains from Trade under Consumer Heterogeneity

I develop a multi-country multi-industry model of trade that features heterogeneous consumers with non-homothetic preferences. I use the model to quantify the measurement errors in the welfare gains estimates caused by the assumption of a representative consumer (ARC). First, I reduce the world level of all trade costs by 15% and find that ARC overestimates (underestimates) the gains of the poo...

Volatility, Growth, and Large Welfare Gains from Stabilization Policies

This paper proposes a simple endogenous-‡uctuations growth model to show: 1) long-run growth and short-run ‡uctuations can be intimately linked; in particular, the rate of long-run growth can be negatively a¤ected by volatilities; 2) imperfect competition can cause endogenous ‡uctuations, and it reduces not only the level of output but also its mean growth rate by amplifying the volatility of t...

Ambulant Market Foods: Consumer Problem or Solution?

  Background: The sale of food by street vendors is an activity of economic, sanitary, and nutritional importance, but these foods can pose a high risk to the health of consumers in inadequate conditions of preparation and storage. The aim of this study was to investigate the preparation conditions and the hygienic-sanitary quality of food sold by street vendors in the vicinity of four campuse...

Policy commitment and the welfare gains from capital market liberalization

This paper evaluates the quantitative impact of capital liberalization on the taxation structure and welfare of the liberalizing countries when governments conduct fiscal policy optimally but without commitment (time-consistent policies). The transition from a regime of capital autarky to a regime of free mobility leads to a decrease in the long-term tax rate on capital of 13 percent and an inc...