A General Equilibrium Analysis of Partial-Equilibrium Welfare Measures: The Case of Climate Change
评估了局部均衡福利测度在衡量大型多部门冲击经济效应时的误差，发现间接价格效应的符号和大小一致性决定误差大小。
This paper reports the results of an evaluation of partial-equilibrium welfare measures of the effects of large multisector shocks to an economic system. A nine a developed economy was used in the analysis. The findings indicate that the errors in single-sector, partial-equilibrium welfare measures depend on the consistency in the signs and approximate magnitude of indirect price effects. Disparities in either the direction or size of price changes in the indirectly affected markets can lead to large errors in the partial-equilibrium welfare measures. Copyright 1987 by American Economic Association.