In normative public economics it is crucial to know how fast the marginal utility of income declines as income …, using a number of assumptions, we are able to estimate the elasticity of marginal utility with respect to income. We obtain …

Sri Lanka—very differently given their diversity in terms of size, income, and structure of trade and protection. Using … equilibrium global model, this study examines the effects of SAFTA on trade and net income in the region. The magnitude of the …. Exempting sensitive products from the agreement limits gains from trade for the lower-middle-income members of SAFTA but may be …

This paper compares the evolution of income (GDP per capita) with utility derived welfare indices for two Mexican … posing three questions: how well aggregate income measures reflect welfare, the role of CPI as a cost of living index, and … regions from 1992-2000. A methodology is proposed based on implicit true standard of living indices. Results show that welfare …

legislation on human capital accumulation and the distribution of wealth and welfare. Crucial model elements include a human …, uninsurable idiosyncratic income risk, borrowing constraints, and endogenous wage and interest rate determination in general …

second is the calculation of the inequality in an overall measure of individual well-being, capturing both the income and … health dimensions. We introduce the concept of equivalent income as a measure of well-being that respects preferences with … respect to the trade-off between income and health, but is not subjectively welfarist since it does not rely on the direct …

This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare … consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and … derive analytical expressions for income mobility and welfare as a function of the various parameters of the underlying …