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dc.contributor.author
Moncarz, Pedro Esteban  
dc.contributor.author
Barone, Sergio Victor  
dc.date.available
2021-04-20T03:30:39Z  
dc.date.issued
2019-12-16  
dc.identifier.citation
Moncarz, Pedro Esteban; Barone, Sergio Victor; Rising commodity prices and welfare in Brazil: A simulation of medium-term effects using a SAM price model; Emerald Group Publishing Ltd.; International Journal of Emerging Markets; 15; 5; 16-12-2019; 1029-1060  
dc.identifier.issn
1746-8809  
dc.identifier.uri
http://hdl.handle.net/11336/130415  
dc.description.abstract
Purpose: Brazil, a large developing economy whose main exports consist of primary commodities, benefited greatly from the boom in commodity prices during the first decade of the current century. However, with a large share of its population with low and very low incomes, there is a potential for some adverse redistributive effects. The purpose of this paper is to address this issue by simulating the ex ante effects using a mixed endogenous–exogenous social accounting matrix (SAM) price model. Design/methodology/approach: The methodology consists of two parts. First, using a mixed endogenous–exogenous SAM price model, the authors obtain the elasticities of domestic prices (goods, services and factors) in response to the increase in international prices of three types of commodities: agricultural, oil/gas and minerals. Second, the authors run micro-simulations at the household level on welfare effects, as well as on some distributive indices. Analysis at the regional level is also carried out. Findings: Following increases in the international prices of primary commodities, the responses of internal prices (goods, services and factors) mean a welfare loss all over the entire distribution of household per capita expenditure; the least affected are those households at the low end and around the median of the distribution. However, the differences among households are not very important. Moreover, once we take into account government transfers and payments from social security, the magnitude of the effects reduces even further. Also, inequality indices and poverty rates show little responsiveness to the simulated shocks. Finally, poorer regions are the most likely to be affected, but also the distribution of effects across households shows differences between regions. Originality/value: Economies with comparative advantages in the production of primary commodities can benefit at a macro-level from the increase in the international prices of such commodities. However, when a large part of the population spends a high proportion of its income on goods whose prices may be affected by the increase in commodity prices, there is a room for some undesirable effects from a redistributive standpoint. This study provides valuable results about such potential effects for Brazil, a large developing economy.  
dc.format
application/pdf  
dc.language.iso
eng  
dc.publisher
Emerald Group Publishing Ltd.  
dc.rights
info:eu-repo/semantics/restrictedAccess  
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/  
dc.subject
BRAZIL  
dc.subject
COMMODITY PRICES  
dc.subject
SOCIAL ACCOUNTING MATRIX  
dc.subject
WELFARE  
dc.subject.classification
Economía, Econometría  
dc.subject.classification
Economía y Negocios  
dc.subject.classification
CIENCIAS SOCIALES  
dc.title
Rising commodity prices and welfare in Brazil: A simulation of medium-term effects using a SAM price model  
dc.type
info:eu-repo/semantics/article  
dc.type
info:ar-repo/semantics/artículo  
dc.type
info:eu-repo/semantics/publishedVersion  
dc.date.updated
2021-04-06T18:44:42Z  
dc.journal.volume
15  
dc.journal.number
5  
dc.journal.pagination
1029-1060  
dc.journal.pais
Reino Unido  
dc.journal.ciudad
Yorkshire  
dc.description.fil
Fil: Moncarz, Pedro Esteban. Consejo Nacional de Investigaciones Cientificas y Tecnicas. Centro Cientifico Tecnologico Conicet - Cordoba. Centro de Investigaciones y Estudios Sobre Cultura y Sociedad. Centro de Investigaciones En Ciencias Economicas | Universidad Nacional de Cordoba. Centro de Investigaciones y Estudios Sobre Cultura y Sociedad. Centro de Investigaciones En Ciencias Economicas.; Argentina. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía y Finanzas; Argentina  
dc.description.fil
Fil: Barone, Sergio Victor. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía y Finanzas; Argentina  
dc.journal.title
International Journal of Emerging Markets  
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/https://doi.org/10.1108/IJOEM-02-2019-0091  
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://www.emerald.com/insight/content/doi/10.1108/IJOEM-02-2019-0091/full/html