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fundamental theorem of welfare economics. The game is Keynesian in that 1) markets needn't clear at equilibrium so there can be …
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The paper studies the effects of green tax reforms within a walrasian computable general equilibrium model of the Italian economy calibrated on a microconsistent data set derived from the Input-Output table for the year 1990. Tax reforms increase taxation on the energy sector either through an...
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In Fairness versus Welfare (2003), Louis Kaplow and Steven Shavell provide a manifesto for normative law and economics …. Therein, they spell out the foundations for contemporary law and economics based on a Paretian consequentialist welfarism and … focus for law and economics that borrows from Robert Sugden's (2018) opportunity criterion, which holds that individuals …
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In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models are constructed and analyzed in greater details. We discover that, technical innovation carried out by a monopolist could...
Persistent link: https://www.econbiz.de/10012707949
The welfare costs of dynamic factor taxes are analyzed in a dynamic general equilibrium model with heterogeneous endowments, abilities, and tastes. Conventional functional form restrictions yield formulas for the transition effects and marginal welfare costs of factor taxes. Heterogeneity...
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