and allowing lender discrimination markedly increases capital use, eliminates child labor, and improves welfare of all …

This paper examines the welfare implications associated with different degrees of diversity or similarity between … populations, everyone ends up in the country with the highest initial level of human capital. Welfare under any of the equilibrium …. In addition, trade and migration are not equivalent if social capital is present: the highest welfare is obtained with …

such a net brain gain results in an increase in welfare and growth due to education's positive externalities. This paper …) the impact on welfare and growth is smaller as well (for any brain gain size); iii) a positive brain gain is likely to … the stock of human capital may have a negative impact on welfare and growth; and v) in a dynamic framework, the paper …

The success of the flat rate tax in Eastern Europe suggests that this concept could also be a model for the welfare … allowance yields positive static welfare effects amounting to approximately 1.8 per cent of income tax revenue but increases … problematic distributional impact, flat tax reforms are unlikely to spill over to the welfare states of Western Europe. …

I illustrate that the welfare improvement property of the Melitz model is due to the shape of the aggregate labor …. In this case, increases in aggregate productivity result in a reduction in welfare. For example, this may occur when …

We prove that the change in welfare of a representative consumer is summarized by the current and expected future … while taking prices parametrically. This result justifies TFP as the right summary measure of welfare (even in situations … (industries or firms) to aggregate welfare using readily available TFP data. Based on this finding, we compute firm and industry …