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. …

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 …

) that keeps the consumer (producer) price unchanged enhances welfare and increases revenue under plausible conditions. It … account, such consumer or producer price-neutral reform reduces both welfare and revenue under plausible conditions. …

which creates incentives for free riding and strategic delegation. The welfare effects of providing the policymaker with … device for a country, helping it avoid the free-riding problem. Implications for the welfare effects of “informational …

problem can be cast in terms of a tractable linear-quadratic setup. The stabilization properties and the welfare implications … large welfare gains as compared to balanced budget rules. Monetary policy shall focus on maintaining price stability. …

that under incomplete information welfare could be higher than under complete information. …

more detailed scheme for welfare assistance is proposed that might be used to improve the incomes of the poorest in a more … efficient way than traditional welfare schemes. Finally, and unusually for a paper on economics; an experiment is proposed that …