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former level of social welfare. It requires different axioms of inequality measurement to comply with subjects’ perceptions. … form, leaky-bucket transactions trace out the maximum leakageʺ of transaction costs before income inequality is exacerbated … transferee in order to keep the degree of income inequality or social welfare intact. However, in general, this conjecture is …
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We develop a theoretical model of foreign aid to analyse a method of disbursement of aid which induces the recipient government to follow a more pro-poor policy than it otherwise would do. In our two-period model, aid is given in the second period and the volume of it depends on the level of...
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