General Equilibrium Benefit Analyses for Social Programs
The purpose of this paper is to describe the conceptual framework for incorporating general equilibrium effects into benefit-cost analyses of social programs. To make our description tangible we selected a specific example, the evaluation of reductions in the resources available for public primary education. We use the distribution of recent cuts in teachers across the school districts in Maricopa County, Arizona in response to shortfalls in available tax revenues to illustrate how general equilibrium effects transform our understanding of both the severity and distribution of changes in losses due to cuts in local social programs.
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