A general theory is developed to analyze the efficiency and income distribution effects of a biofuel consumer tax credit and the interaction effects with a price contingent farm subsidy. Using the U.S. ethanol market as a stylized example, ethanol prices rise above the gasoline price by the...

We study a society with a continuum of families, segregated in neighborhoods perfectly by income. There is a deterministic, non-linear relationship between years of education attained in youth and earnings in adult life.

Uzbekistan is typically seen as one of the slowest reformers among the countries in transition from central planning to a market-oriented economy. This paper evaluates the walfare impact of gradual transition in Uzbekistan, asking whether it has avoided the short-term disruption associated with...

This paper analyses the long-term growth and welfare impact of the transition to the market economy in the countries of Eastern Europe. We define welfare as the average real net wage after payments of social security contributions to fund a paygo-type pension system, and of taxes to service the...

The concern for measuring well-being objectively (as opposed to subjectively, that is, relying only on preferences) is found in modern political philosophy, especially in J. Rawls's, A. Sen's and G. Cohen's thoughts. This paper explains the implications of using an objective well-being index as...

Purpose The purpose of this paper is to ascertain whether weather variables can explain the stock return reaction on the Dow Jones Sustainability Europe Index by employing a number of macroeconomic indicators as control variables. Design/methodology/approach The authors incorporate the...

Purpose – Emerging evidence revealed a high rate of dependence of marginal people on forest resources in developing countries for both subsistence use and cash income. The purpose of this paper is to examine the rural livelihoods welfare dimensions of community forest income in south-western...