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fundamental theorem of welfare economics. The game is Keynesian in that 1) markets needn't clear at equilibrium so there can be …
Persistent link: https://www.econbiz.de/10012898752
In Fairness versus Welfare (2003), Louis Kaplow and Steven Shavell provide a manifesto for normative law and economics …. Therein, they spell out the foundations for contemporary law and economics based on a Paretian consequentialist welfarism and … focus for law and economics that borrows from Robert Sugden's (2018) opportunity criterion, which holds that individuals …
Persistent link: https://www.econbiz.de/10014518376
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economics textbooks. The paper aims to explain, reconstruct and contest the neoclassical vision implicit in mainstream economic … trade theory. Analyzing arguments made by international economists from the perspective of political philosophy, I show how …
Persistent link: https://www.econbiz.de/10013051478
Mostly infinite dimensional economies can be considered limits offinite dimensional economies, in particular when we think of time orproduct differentiation. We investigate conditions under which sequences of quasi-equilibria in finite dimensional economies converge to a quasi-equilibrium in the...
Persistent link: https://www.econbiz.de/10011303315
The paper refers to Kolodko's new and innovative look at economics and its contemporary aims. The paper is composed of … the traditional division between positive and normative economics. He introduces the concept of a "good economy" (good … Ricardo, through Marx and Keynes, up to the modern welfare economics. The third part is devoted to the analysis of the key …
Persistent link: https://www.econbiz.de/10011628425
This paper examines the optimal response of monetary and fiscal policy to a decline in aggregate demand. The theoretical framework is a two-period general equilibrium model in which prices are sticky in the short run and flexible in the long run. Policy is evaluated by how well it raises the...
Persistent link: https://www.econbiz.de/10008991399
Price elasticities of transport demand are an important tool toassess the impacts of pricing policies. Empirical research on these elasticitiesleads to a rather wide range of outcomes. There is obviously a need for a morerigorous methodological framework. This paper provides a new...
Persistent link: https://www.econbiz.de/10011303872
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