. The consequences of demographic developments for social welfare, broadly defined, are felt over a very long term. Issues … discussed include the contribution of increases in life expectancy to social welfare; the potential effects of population growth …

imitative R&D to copy state-of-the-art quality Northern products. The steady-state equilibrium and welfare implications of three …

The recent literature has shown that subjective welfare depends on relative income. Attempts to test this relationship … above a certain income level. We revisit the issue using data from Nepal. We find a relative consumption effect that is …

The literature has shown that the implied welfare gains from international financial integration are very small. We … revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes … welfare gains from financial integration are equivalent to a 9% increase in consumption for the median developing country, and …

inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare … increase welfare; however, it may also decrease welfare if education is insufficient to alter the equilibrium information and …

. Accordingly, it provides a convenient benchmark for the evaluation of the welfare effectiveness of other well known tariff reform … sources of the potential welfare gains from tariff reform, use it to establish conditions under which some existing reforms … are locally optimal, provide geometric illustrations and compare welfare effectiveness of reforms using numerical examples …

as supporting evidence for the models’ assumptions. We also discuss the welfare implications of non-coordinated free …

We show that the standard concertina result for tariff reforms -- i.e. lowering the highest tariff increases welfare … tariff is lowered is not capital intensive. If the concertina reform lowers welfare it lowers market access as well, thereby …