slightly decrease over time. There is a negligible loss in welfare, however, from immediately setting the R&D subsidy to its …

We study the effects of German unification in a model with capital accumulation, skill differences and a welfare state …. Absent a welfare state, we observe an investment boom, depressed output and employment conditions. Capital owners and high …-skilled agents are willing to give up to 4% of per-capita consumption to favor unification. When a welfare state exists the …

This paper calculates the quantitative significance of the welfare effects of wage compression in Sweden. This is done … compression lead to large welfare losses, since wage compression creates costly unemployment among low-skilled workers. This … welfare loss can be significantly reduced (but not eliminated) if firms and unions bargain over efficient labor contracts. In …

benefits, means-tested welfare benefits, earning from public employment projects, value added and excise tax on consumption …, welfare benefits and public employment projects are negligible, and savings on incarceration costs are also small. Larger …

This paper analyzes the evolution of poverty in Latin America. In 1998, about a third of the population was poor, and … one sixth extreme poor. This represents 179 million poor people, of which 89 million lived in extreme poverty. The share …