and that welfare levels are in general unrelated to the set of stable matchings. Two important consequences are that …) welfare levels are not bounded by the student and hospital-optimal stable matchings (with respect to the true preferences). …

). The question arises on the ex-ante welfare implications when the game is played by participants that vary in terms of …

Welfare is a rather vague term whose meaning depends on ideology, values and judgments. Material resources are just … transversal policies that consider health and other welfare goals, the short term and long-term implications and intergenerational … health care systems the welfare states will fail to consolidate and the overall economic wellbeing could be in serious …

We show that the welfare of a representative consumer can be related to observable aggregate data. To a first order …, the change in welfare is summarized by (the present value of) the Solow productivity residual and by the growth rate of … welfare across countries, with both variables computed as log level deviations from a reference country. These results hold …

We study the effect of borrowing limits on welfare in several versions of exchange and production economies. There is a … are worse off. The combination of these effects produces that aggregate welfare in equilibrium (or ex ante welfare …

the same probability of being hired. We argue that selective hiring crucially affects welfare analysis. Our model is …, the positive predictions of the model change very little, but the welfare costs of unemployment are much larger because … unemployment risk is distributed unequally across workers. As a result, optimal unemployment insurance may be higher and welfare is …