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

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...

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Autores:
Ramírez Hassan, Andrés
Montoya Blandón, Santiago
Tipo de recurso:
Fecha de publicación:
2015
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/7348
Acceso en línea:
http://hdl.handle.net/10784/7348
Palabra clave:
Bayesian Estimation
Endogeneity
Instruments
Simultaneous Equations
Spatial Random Effects
Welfare Analysis
Estimación Bayesiana
Endogeneidad
Instrumentos
Ecuaciones Simultáneas
Efectos Aleatorios Espaciales
Análisis de Bienestar
Rights
License
Acceso abierto
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repository_id_str
spelling 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 degrees2015-09-04T00:24:42Z2015-07-072015-09-04T00:24:42Zhttp://hdl.handle.net/10784/7348C11C15D11D12D60We 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.engUniversidad EAFITEscuela de Economía y FinanzasWelfare gains of the poor: An endogenous Bayesian approach with spatial random effectsworkingPaperinfo:eu-repo/semantics/workingPaperDocumento de trabajo de investigacióndrafthttp://purl.org/coar/version/c_b1a7d7d4d402bccehttp://purl.org/coar/resource_type/c_8042Acceso abiertohttp://purl.org/coar/access_right/c_abf2Bayesian EstimationEndogeneityInstrumentsSimultaneous EquationsSpatial Random EffectsWelfare AnalysisEstimación BayesianaEndogeneidadInstrumentosEcuaciones SimultáneasEfectos Aleatorios EspacialesAnálisis de Bienestararamir21@eafit.edu.cosmontoy4@eafit.edu.coRamírez Hassan, AndrésMontoya Blandón, SantiagoLICENSElicense.txtlicense.txttext/plain; charset=utf-82556https://repository.eafit.edu.co/bitstreams/59a1e9da-0180-4f2b-94cd-5b6321475020/download76025f86b095439b7ac65b367055d40cMD51ORIGINAL2015_18_Andres_Ramirez_Hassan.pdf2015_18_Andres_Ramirez_Hassan.pdfapplication/pdf1142989https://repository.eafit.edu.co/bitstreams/de999f20-5dcd-4218-bfa4-254009bf60d1/downloadbd32f1e6435dbef7c8d061508e7156daMD5210784/7348oai:repository.eafit.edu.co:10784/73482024-03-05 14:06:33.426open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co
dc.title.eng.fl_str_mv Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
title Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
spellingShingle Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
Bayesian Estimation
Endogeneity
Instruments
Simultaneous Equations
Spatial Random Effects
Welfare Analysis
Estimación Bayesiana
Endogeneidad
Instrumentos
Ecuaciones Simultáneas
Efectos Aleatorios Espaciales
Análisis de Bienestar
title_short Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
title_full Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
title_fullStr Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
title_full_unstemmed Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
title_sort Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects
dc.creator.fl_str_mv Ramírez Hassan, Andrés
Montoya Blandón, Santiago
dc.contributor.eafitauthor.none.fl_str_mv aramir21@eafit.edu.co
smontoy4@eafit.edu.co
dc.contributor.author.none.fl_str_mv Ramírez Hassan, Andrés
Montoya Blandón, Santiago
dc.subject.keyword.eng.fl_str_mv Bayesian Estimation
Endogeneity
Instruments
Simultaneous Equations
Spatial Random Effects
Welfare Analysis
topic Bayesian Estimation
Endogeneity
Instruments
Simultaneous Equations
Spatial Random Effects
Welfare Analysis
Estimación Bayesiana
Endogeneidad
Instrumentos
Ecuaciones Simultáneas
Efectos Aleatorios Espaciales
Análisis de Bienestar
dc.subject.keyword.spa.fl_str_mv Estimación Bayesiana
Endogeneidad
Instrumentos
Ecuaciones Simultáneas
Efectos Aleatorios Espaciales
Análisis de Bienestar
description 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.
publishDate 2015
dc.date.available.none.fl_str_mv 2015-09-04T00:24:42Z
dc.date.issued.none.fl_str_mv 2015-07-07
dc.date.accessioned.none.fl_str_mv 2015-09-04T00:24:42Z
dc.type.eng.fl_str_mv workingPaper
info:eu-repo/semantics/workingPaper
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_b1a7d7d4d402bcce
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_8042
dc.type.local.spa.fl_str_mv Documento de trabajo de investigación
dc.type.hasVersion.eng.fl_str_mv draft
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/7348
dc.identifier.jel.none.fl_str_mv C11
C15
D11
D12
D60
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identifier_str_mv C11
C15
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D12
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dc.language.iso.eng.fl_str_mv eng
language eng
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.local.spa.fl_str_mv Acceso abierto
rights_invalid_str_mv Acceso abierto
http://purl.org/coar/access_right/c_abf2
dc.coverage.spatial.eng.fl_str_mv 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.publisher.spa.fl_str_mv Universidad EAFIT
dc.publisher.department.spa.fl_str_mv Escuela de Economía y Finanzas
institution Universidad EAFIT
bitstream.url.fl_str_mv https://repository.eafit.edu.co/bitstreams/59a1e9da-0180-4f2b-94cd-5b6321475020/download
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repository.name.fl_str_mv Repositorio Institucional Universidad EAFIT
repository.mail.fl_str_mv repositorio@eafit.edu.co
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