Welfare evaluation in a heterogeneous agent model: How representative is the CES representative consumer?
نویسندگان
چکیده
منابع مشابه
Consumer Heterogeneity and the Impact of Trade Liberalization: How Representative is the Representative Agent Framework?
While it is well established that across-country taste differences are associated with "home market effects", there is very limited analysis of how such preference heterogeneity impacts the aggregate volume of trade and the welfare gains from liberalization. I develop a structural model of aggregate demand featuring products with heterogeneous attributes, consumers with heterogeneous tastes for...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2016
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2016.04.005