Journal Article

Welfare Measurement in Single and Multimarket Models: Theory and Application

Runar Brännlund and Bengt Kriström

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 78, issue 1, pages 157-165
Published in print February 1996 | ISSN: 0002-9092
Published online February 1996 | e-ISSN: 1467-8276 | DOI: https://dx.doi.org/10.2307/1243787
Welfare Measurement in Single and Multimarket Models: Theory and Application

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  • Welfare Economics
  • Primary Products
  • Renewable Resources and Conservation
  • Taxation, Subsidies, and Revenue

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In this paper we provide an analysis of tax reforms along the lines of the multimarket welfare measurement techniques suggested by Just, Hueth, and Schmitz. A key purpose of our analysis is to shed light on the approximating features of partial equilibrium models. We derive a result on the difference between single and multimarket welfare measurement, showing how the difference boils down to a set of key parameters. We use our approach to analyze a proposal put forward by the Swedish Commission of Environmental Charges regarding chlorine emissions from the Swedish pulp and paper industry.

Keywords: environmental taxes; partial versus general equilibrium; policy reform; single and multimarket welfare measurement; D610; H230; L730; Q280

Journal Article.  0 words. 

Subjects: Welfare Economics ; Primary Products ; Renewable Resources and Conservation ; Taxation, Subsidies, and Revenue

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