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

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dc.coverage.spatial Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.creator Ramírez Hassan, Andrés spa
dc.creator Montoya Blandón, Santiago spa
dc.date.accessioned 2015-09-04T00:24:42Z
dc.date.accessioned 2016-06-10T11:45:36Z
dc.date.available 2015-09-04T00:24:42Z
dc.date.available 2016-06-10T11:45:36Z
dc.date.issued 2015-07-07
dc.identifier.uri http://hdl.handle.net/10784/7348
dc.description.abstract We 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.
dc.language.iso eng
dc.publisher Universidad EAFIT
dc.rights info:eu-repo/semantics/openAccess
dc.subject Estimación Bayesiana
dc.subject Endogeneidad
dc.subject Instrumentos
dc.subject Ecuaciones Simultáneas
dc.subject Efectos Aleatorios Espaciales
dc.subject Análisis de Bienestar
dc.title Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
dc.type workingPaper eng
dc.type info:eu-repo/semantics/workingPaper
dc.identifier.jel C11
dc.identifier.jel C15
dc.identifier.jel D11
dc.identifier.jel D12
dc.identifier.jel D60
dc.subject.keyword Bayesian Estimation eng
dc.subject.keyword Endogeneity eng
dc.subject.keyword Instruments eng
dc.subject.keyword Simultaneous Equations eng
dc.subject.keyword Spatial Random Effects eng
dc.subject.keyword Welfare Analysis eng
dc.type.spa Documento de trabajo de investigación spa
dc.type.hasVersion draf eng
dc.rights.accessRights openAccess eng
dc.rights.acceso Libre acceso spa
dc.publisher.department Escuela de Economía y Finanzas
dc.contributor.eafitauthor aramir21@eafit.edu.co
dc.contributor.eafitauthor smontoy4@eafit.edu.co


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