Dale Jorgenson

Samuel W. Morris University Professor

Welfare, Volume Two, Table of Contents

Contents

List of Tables		ix
Preface		xi
List of Sources		xxix

1 Aggregate Consumer Behavior and the Measurement of Social Welfare		1
	Dale W. Jorgenson
	1.1 Introduction	1
	1.2 Preliminaries	7
	1.3 Modeling Consumer Behavior	13
	1.4 Individual and Social Welfare	20
	1.5 The Standard of Living and its Cost	25
	1.6 Summary and Conclusion	32
	Appendix Table	35

2. Individual and Social Cost-of-Living Indexes		39
	Dale W. Jorgenson and Daniel T. Slesnick
	2.1 Introduction	39
	2.2 Aggregate Consumer Behavior	42
	2.3 Econometric Model	51
	2.4 Individual Cost-of-Living Indexes	56
	2.5 Social Welfare Functions	63
	2.6 Social Cost-of-Living Index	75
	2.7 Group Cost-of-Living Indexes	78
	2.8 Summary and Conclusion	85
	Appendix Tables	91

3 Inequality in the Distribution of Individual Welfare		99
	Dale W. Jorgenson and Daniel T. Slesnick
	3.1 Introduction	99
	3.2 Aggregate Consumer Behavior	102
	3.3 Econometric Model	112
	3.4 Social Welfare functions	117
	3.5 Indexes of Inequality	127
	3.6 Inequality with Groups	133
	3.7 Inequality between Groups	137
	3.8 Money Metric Inequality	142
	3.9 Applications of money Metric Inequality	149
	3.10 Summary and Conclusion	156
	Appendix Tables	159

4 General Equilibrium Analysis of Economic Policy		165
	Dale W. Jorgenson and Daniel T. Slesnick
	4.1 Introduction	165
	4.2 Aggregate Consumer Behavior	169
	4.3 Econometric Model	180
	4.4 Money Metric Individual Welfare	185
	4.5 Social Welfare Functions	195
	4.6 Money Metric Social Welfare	205
	4.7 Efficiency versus Equity	212
	4.8 Summary and Conclusion	216

5 Aggregate Consumer Behavior and Household Equivalence Scales		219
	Dale W. Jorgenson and Daniel T. Slesnick
	5.1 Introduction	219
	5.2 Aggregate Consumer Behavior	222
	5.3 Identification and Estimation	228
	5.4 Econometric Model	236
	5.5 Household Equivalence Scales	238
	Appendix A Notation for Instrumental Variables, 1947-1982	244
	Appendix B Notation for Cross-Section Results	245
	Appendix C Notation for Pooled Estimation Results	249

6 General Equilibrium Analysis of Natural Gas Price Regulation		253
	Dale W. Jorgenson and Daniel T. Slesnick
	6.1 Introduction	253
	6.2 Aggregate Consumer Behavior	254
	6.3 Money Metric Individual Welfare	263
	6.4 Social Welfare Functions	271
	6.5 Money Metric Social Welfare	279

7 Redistribution Policy and the Measurement of Poverty		291
	Dale W. Jorgenson and Daniel T. Slesnick
	7.1 Introduction	291
	7.2 Poverty and Social Welfare	295
	7.3 Measures of Poverty	301
	7.4 Individual and Social Welfare	305
	7.5 Money Metric Poverty	309
	7.6 Poverty within Groups	314
	7.7 Poverty between Groups	322
	7.8 Alternative Poverty Measures	328
	7.9 Summary and Conclusion	335
	Appendix Tables	337

8 Inequality and the Standard of Living		343
	Dale W. Jorgenson and Daniel T. Slesnick
	8.1 Introduction	343
	8.2 Individual Welfare	345
	8.3 Social Welfare	347
	8.4 Standard of Living Index	351
	8.5 Real Expenditure per Person	353

9 Carbon Taxes and Economic Welfare		361
	Dale W. Jorgenson, Daniel T. Slesnick, and Peter J. Wilcoxen
	9.1 Introduction	361
	9.2 An Overview of the Model	363
	9.3 Welfare Economics	372
	9.4 The Impact of a Carbon Tax	379
	9.5 The Effect of Welfare	388

References		401
Index		415