inequalities and trade patterns. We analyze the effect of redistributive policies on the production patterns and welfare. We … - leads to output growth inside a country and in its partner country. Trade between dierent countries (in terms of income or … terms of trade and the welfare distribution within countries. Our framework hopefully provides a basic tool for studying the …

This paper quantifies the effects on welfare of misspecified monetary policy objectives in a stylized DSGE model. We … show that using inappropriate objectives generates relatively large welfare costs. When expressed in terms of ‘consumption … uncertainty decomposition indicates that uncertainty about the properties of markup shocks gives rise to the largest welfare costs. …

is not necessarily welfare-enhancing. We show that firms that use a large share of the low-tech input relocate first … detrimental to workers’ welfare in both countries. …

is not necessarily welfare-enhancing. We show that firms that use a large share of the low-tech input relocate first … detrimental to workers’ welfare in both countries. …

and welfare gains in the long term (six to twelve years). The stocks of productive assets, notably in farms, get …