A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that …

In theory, and under some quite strong assumptions, there exists an important rigorous quantitative relationship among … the following four fundamental economic concepts: (1) "wealth"; (2) "income"; (3) "sustainability"; (4) "accounting …-fold quantitative relationship in an ultra-simplified setting. I identify some basic applications of this simplified economic theory of …

In theory, and under some quite strong assumptions, there exists an important rigorous quantitative relationship among … the following four fundamental economic concepts: (1) "wealth"; (2) "income"; (3) "sustainability"; (4) "accounting …-fold quantitative relationship in an ultra-simplified setting. I identify some basic applications of this simplified economic theory of …

In a finite-horizon general equilibrium model national income is the value of output at supporting prices and a … perturbation increases welfare if and only if it raises national income. National income therefore serves as both a welfare measure … dynamic model, how to measure green national income, and how to measure sustainability. Our measure has all the right …

of such i.i.d. shocks gets smaller, and more of their lapsations are driven either by income, health or bequest motive … shocks. Income and health shocks are relatively more important than bequest motive shocks in explaining lapsations when …

of such i.i.d. shocks gets smaller, and more of their lapsations are driven either by income, health or bequest motive … shocks. Income and health shocks are relatively more important than bequest motive shocks in explaining lapsations when …

Acknowledging individuals' distaste for low relative income renders trade less appealing when trade is viewed as a … which gains from trade are overtaken by losses of relative income, with the result that global social welfare is reduced. A … constructive example reveals that a "trembling trade" can arise even when trade is doubly gainful in that it increases the income …