We show that leapfrogging and growth reversals entail sizeable welfare gains and losses, respectively, in an AK economy … originate a trade-off that has an ambiguous effect on welfare: they reduce the long-run consumption growth rate but increase the … under logarithmic utility and small delays that the short-run effect dominates the long-run effect and that welfare improves …

crucial to reproduce international business cycle statistics. We also evaluate the welfare implications of various monetary …

' welfare as a function of the parameter representing market power. We surprisingly find that, when the total labor force is … greater than a certain level, the welfare function is an inverted-N shape in the decentralized economy and monotonically …

toughening of the antitrust policy is likely to result in more agglomeration and may reduce world welfare. The antitrust policy … is more likely to be welfare improving when market integration progresses. …

OECD countries shows that the extended security promoted by welfare systems has not been detrimental to innovation, growth …

the United States. Thirdly, we find that the average welfare cost of inflation is much smaller compared to a complete …

This paper uses a representative sample of individuals on France's main welfare program (the Revenu Minimum d …'Insertion, or RMI) to estimate monetary incentives for employment among welfare recipients. Based on the estimated joint …

Most welfare programs generate high marginal tax rates on labor income. This paper uses a representative sample of … individuals on France's main welfare program (the Revenu Minimum d'Insertion, or RMI) to estimate monetary gains to employment for … welfare recipients. This is based on the distribution of potential monthly earnings faced by each individual, as inferred from …