This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I … groups, with a welfare cost as high as 10 percent of annual non-housing consumption for the old, but near zero for the young …

In this paper, we study the impact of Canada's adoption of protectionist trade policy in 1879 on Canadian welfare … was a distortionary policy that negatively affected Canadian welfare. We argue that this view is incomplete because it … the welfare effects of tariffs can potentially be positive, even for small open economies, due to their impact on the …

This paper examines the effects of time-varying volatility on welfare. I construct a tractable endogenous growth model … can decelerate growth in the absence of any level shocks. In contrast to level risk, which is always welfare reducing for … a risk-averse household, volatility risk can increase or decrease welfare, depending on model parameters. When …

improve the business conditions in one country have negative productivity and welfare effects on the trading partner. Second …

and then study the welfare implications of countries' choices. It turns out that a county with a higher degree of … a higher welfare level. Our results call for coordinated and harmonised immigration policies that may improve the … welfare of both countries. …

We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction …

number of applications result is due to rent seeking behavior. Sizable welfare gains (15% to 20%) can be realized by … applying for at least one job per period, increases welfare. …

, the welfare increases of the household, as measured by changes in consumption, are larger than when services are provided … confirm. Thus, we find that bundling of services may help realize welfare effects. …