This paper examines the costs associated with the level and variability of inflation in the context of a general equilibrium (GE) welfare measure which accommodates the optimal adjustments of all the endogenous variables in the model in response to the transfers received by the households. We...

In this paper we calibrate the social cost of optimal taxes in a class of imperfectly competitive economies and examine the correspondence of this social cost with the number of tax instruments and the number and the sources of distortions. We calibrate the Ramsey equilibrium for three standard...

The main purpose of this paper is to estimate and evaluate the social costs of highways in Japan. In general, with more people concerned about protecting the environment at both local and global levels, dependence on vehicular transportation in cities has brought about problems. Too much...