Camacho-Cuena, Eva; Neugebauer, Tibor; Seidl, Christian - Society for the Study of Economic Inequality - ECINEQ - 2007
Leaky-bucket transactions can be regarded as income transfers allowing for transaction costs. In its most rudimentary form, leaky-bucket transactions trace out the maximum “leakage” of transaction costs before income inequality is exacerbated, or—alternatively—before a welfare loss is...