Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects

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dc.contributor.authorRamírez Hassan, Andrés
dc.contributor.authorMontoya Blandón, Santiago
dc.contributor.eafitauthoraramir21@eafit.edu.co
dc.contributor.eafitauthorsmontoy4@eafit.edu.co
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date.accessioned2015-09-04T00:24:42Z
dc.date.available2015-09-04T00:24:42Z
dc.date.issued2015-07-07
dc.description.abstractWe introduce a Bayesian instrumental variable procedure with spatial random effects that handles endogeneity, and spatial dependence with unobserved heterogeneity. We find through a limited Monte Carlo experiment that our proposal works well in terms of point estimates and prediction. Then, we apply our method to analyze the welfare effects on the poorest households generated by a process of electricity tariff unification. In particular, we deduce an Equivalent Variation measure where there is a budget constraint for a two-tiered pricing scheme, and find that 10% of the poorest municipalities attained welfare gains above 2% of their initial income.eng
dc.identifier.jelC11
dc.identifier.jelC15
dc.identifier.jelD11
dc.identifier.jelD12
dc.identifier.jelD60
dc.identifier.urihttp://hdl.handle.net/10784/7348
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordBayesian Estimationeng
dc.subject.keywordEndogeneityeng
dc.subject.keywordInstrumentseng
dc.subject.keywordSimultaneous Equationseng
dc.subject.keywordSpatial Random Effectseng
dc.subject.keywordWelfare Analysiseng
dc.subject.keywordEstimación Bayesianaspa
dc.subject.keywordEndogeneidadspa
dc.subject.keywordInstrumentosspa
dc.subject.keywordEcuaciones Simultáneasspa
dc.subject.keywordEfectos Aleatorios Espacialesspa
dc.subject.keywordAnálisis de Bienestarspa
dc.titleWelfare gains of the poor: An endogenous Bayesian approach with spatial random effectseng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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