. Then we study the impact of changes in exogenous variables on consumption, growth, and welfare. Next, we show that … consumption-wealth ratio and welfare should be higher in an open economy than in a closed economy. We discuss whether open … an open economy. We get that the size of the public sector which maximizes welfare is lower than that which maximizes …

This paper considers the effects of humanitarian aid on economic welfare through a demographic transition channel. We … monetary humanitarian aid on economic welfare. We conclude that if parents strongly value children, giving monetary aid … produces more children and yields higher welfare. This positive welfare effect dominates an indirect negative welfare effect …

wealth, and welfare (assuming that public spending is utility enhancing). The model suggests that the size of government, the … consumption-wealth ratio, and welfare should be greater in an open economy because of higher productivity and/or less volatility …

as the consumption-wealth ratio, the growth rate of wealth, and welfare, in a two-country world, based on a portfolio …-wealth ratio, and welfare should be higher in an open economy due to a higher productivity and/or less volatility through risk …

spending affect the long-run economic growth and welfare? Using an endogenous growth model where investment in education is the …-run growth and welfare. To finance public health spending at 20 percent of gross domestic product (GDP), a policy that … points and welfare by 14 percent. When health is both consumption and productive good, this policy reduces long-run growth …

growth, and welfare. As with time separable preferences asset trade increases the mean growth rate, but it also increases … growth-volatility. We demonstrate that the welfare gain from asset trade is lower with habit persistence in consumption. This … growth. Calibrating the model to data for North America and Western Europe, we find that habit persistence lowers welfare …