distributed profits.Balanced growth paths, transitional dynamics and welfare costs are computed. We show that the 2000 Estonian … Income Tax Act leads to higher per capita income and investment but lower welfare. A sensitivity analysis shows that the …

profits. Balanced growth paths, transitional dynamics and welfare costs are computed. Our results indicate that the 2000 … Income Tax Act leads to higher per capita income and investment, but lower welfare. A sensitivity analysis shows the results …

profits. Balanced growth paths, transitional dynamics and welfare costs are computed. Our results indicate that the 2000 … Income Tax Act leads to higher per capita income and investment, but lower welfare. A sensitivity analysis shows the results …

sustained growth and increases welfare. Further, if the steady state is unstable under laissez faire, the introduction of the … accumulation falls below its balanced growth path, subsidizing innovators by taxing consumers has stabilizing effects, promotes … subsidy can make the steady state stable. Such a policy has beneficial effects as it fosters output growth along the …

We evaluate the growth and welfare effects of budget-neutral reforms in the US tax system. Large gains in welfare and … growth could result from adopting a consumption-based tax system. In contrast, significant welfare and growth losses would …-negligible welfare and growth gains. …

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 …

We study an OLG economy where productivity growth comes from two alternative sources: process innovation and learning …

We develop an evolutionary model of growth in which agents choose how to allocate their time between private and social … activities. We argue that a shift from social to private activities may foster market-based growth, but also generate social … of dynamic accumulation of its effects on social environment (i.e., of social capital accumulation), we show that growth …