We describe the relation between welfare growth and productivity growth. We argue that differences in productivity and … countries. Although, at the global level, productivity growth and welfare growth are two sides of the same coin, at the national … level they are not. The welfare effects of productivity growth in part leak away to consumers in other countries because …

impact on workers' and capital owners' welfare. Decomposition of movements in factor productivity is implemented empirically …

evaluated in terms of revenue and welfare. These types of fiscal reforms will lead to welfare and efficiency gains that can be …

measure of the (lack of) credibility of the monetary policy authority, we investigate the welfare effect of a marginal … for only 6 quarters is enough to bridge 75% of the welfare gap between discretion and commitment. This seems to justify …

This paper examines how the option for licensing affects research and development (R&D) and social welfare. We find … for licensing increases social welfare is ambiguous. If the possibility of licensing increases probability of success in R …&D significantly then welfare is higher in presence of licensing. …