This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies … during the 1990s. We argue that barter is a welfare-improving phenomenon that acts as a defence mechanism against monetary …

. Through a comparison of social welfare given the strategies chosen by local governments, the author shows that whatever the …

setting the two policy instruments have different welfare effects. For a strong green policy (a severe reduction of the dirty … sector) a tax is the dominant instrument. For moderate policy targets, a subsidy will be superior (inferior) if the initial …

varieties of demand are analysed, linear and negative exponential. The welfare effect of a transport subsidy is shown to be …The paper shows that in a spatial price equilibrium under monopolisitc competition welfare can be increased by … introducing a subsidy into a partial spatial price equilibrium of the Hotelling-Smithies type in one-dimensional space. Two …