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... guarantees path independency of the line integral, whereas path independency of the line integral does not guarantee constancy of marginal utility of income. Because of these restrictive assumptions concerning the constancy of the marginal utility of income and the question of path dependency of the ...
... guarantees path independency of the line integral, whereas path independency of the line integral does not guarantee constancy of marginal utility of income. Because of these restrictive assumptions concerning the constancy of the marginal utility of income and the question of path dependency of the ...
the political economy of scale and nation
... that the degree to which countries were culturally homogeneous affected the type of corporatism they developed (Katzenstein 1985, pp. 178-81). He was not alone in this regard as the vast literature on corporatism was almost entirely about classes (e.g., Schmitter and Lehmbruch 1979). We agree that s ...
... that the degree to which countries were culturally homogeneous affected the type of corporatism they developed (Katzenstein 1985, pp. 178-81). He was not alone in this regard as the vast literature on corporatism was almost entirely about classes (e.g., Schmitter and Lehmbruch 1979). We agree that s ...
An empirical investigation of social protection expenditures on economic growth in Greece.
... imbalances and the stabilization of inflation rates became a top priority, from the moment that the compliance with the Maastricht criteria became the unique goal of Greek economic policy in the mid-1990s. Therefore, social policy should be adjusted in the new conditions. Another important exogenous ...
... imbalances and the stabilization of inflation rates became a top priority, from the moment that the compliance with the Maastricht criteria became the unique goal of Greek economic policy in the mid-1990s. Therefore, social policy should be adjusted in the new conditions. Another important exogenous ...
ENLARGING THE VARIETIES OF CAPITALISM The
... features of CMEs and LMEs.28 The main theoretical task of the CME/LME juxtaposition is to explain the marked differences in the comparative advantages of advanced capitalist economies. These advantages are most easily demonstrated by focusing on the different types of innovation processes that are c ...
... features of CMEs and LMEs.28 The main theoretical task of the CME/LME juxtaposition is to explain the marked differences in the comparative advantages of advanced capitalist economies. These advantages are most easily demonstrated by focusing on the different types of innovation processes that are c ...
Inequality, Social Insurance, and Redistribution
... These two views appear to have very different political implications. Critics frequently view welfare programs as redistributive policies that distort incentives and reduce the efficiency of the economy. Supporters often argue, in contrast, that welfare policies provide insurance to all and enhance ...
... These two views appear to have very different political implications. Critics frequently view welfare programs as redistributive policies that distort incentives and reduce the efficiency of the economy. Supporters often argue, in contrast, that welfare policies provide insurance to all and enhance ...
New EMU governance: Not (yet) ready for social investment?
... Streeck and Kathy Thelen (2005), have revealed how different layers of social and economic governance, often embodying contradictory logics, can coexist under different historical circumstances, whilst giving rise to a range of unintended consequences and unforeseen developments. The dynamic relatio ...
... Streeck and Kathy Thelen (2005), have revealed how different layers of social and economic governance, often embodying contradictory logics, can coexist under different historical circumstances, whilst giving rise to a range of unintended consequences and unforeseen developments. The dynamic relatio ...
ijer v4i6 nd (8) Tito - international journal of economics and
... technological absorption by the national productive sectors. The increased contact with the outside world, provided by higher trade flows, extends the offer of technology. As public goods, imports enable access to new ideas, knowledge and innovations. Because of this, the availability of technology ...
... technological absorption by the national productive sectors. The increased contact with the outside world, provided by higher trade flows, extends the offer of technology. As public goods, imports enable access to new ideas, knowledge and innovations. Because of this, the availability of technology ...
Macroeconomic Priorities - NYU Stern School of Business
... In general, these studies found that reducing capital income taxation from its current U.S. level to zero (using other taxes to support an unchanged rate of government spending) would increase the balanced-growth capital stock by 30 to 60 percent. With a capital share of around 0.3, these numbers im ...
... In general, these studies found that reducing capital income taxation from its current U.S. level to zero (using other taxes to support an unchanged rate of government spending) would increase the balanced-growth capital stock by 30 to 60 percent. With a capital share of around 0.3, these numbers im ...
The effect of immigration on support for redistribution re
... The main problems of comparative macro-sociological research are the small N problem and the Galton problem (Goldthorpe 1997). They are most apparent in variableoriented quantitative approaches since they violate the basic assumptions of these models. First, the limited number of countries restricts ...
... The main problems of comparative macro-sociological research are the small N problem and the Galton problem (Goldthorpe 1997). They are most apparent in variableoriented quantitative approaches since they violate the basic assumptions of these models. First, the limited number of countries restricts ...
Value Preserving Welfare Weights for Social Optimization Problems
... We show that VP weights coincide with Negishi weights, and the corresponding VP allocations coincide with Walrasian allocations, for economies in which the welfare theorems hold. Intuitively, the reason is that, in such environments, the gradient of the welfare function at the initial bundle is a co ...
... We show that VP weights coincide with Negishi weights, and the corresponding VP allocations coincide with Walrasian allocations, for economies in which the welfare theorems hold. Intuitively, the reason is that, in such environments, the gradient of the welfare function at the initial bundle is a co ...
A General Welfare Decomposition for CGE Models
... One particularly useful feature of GTAP that captures these dependencies is a welfare decomposition (Huff and Hertel 2001). This subdivides the overall measure of welfare into components that have a reasonably intuitive interpretation. As just noted, economic well-being depends in part on disposable ...
... One particularly useful feature of GTAP that captures these dependencies is a welfare decomposition (Huff and Hertel 2001). This subdivides the overall measure of welfare into components that have a reasonably intuitive interpretation. As just noted, economic well-being depends in part on disposable ...
NBER WORKING PAPER SERIES SHOULD SOCIAL SECURITY BENEFITS INCREASE WITH AGE? Martin Feldstejn
... consumption during their retirement years, they cannot purchase actuarially fair annuities with which to spread their accumulated wealth over the ...
... consumption during their retirement years, they cannot purchase actuarially fair annuities with which to spread their accumulated wealth over the ...
Coordinating Business Cycles
... • Cooper and Haltiwanger (2006): lumpy adjustments in labor and investment, • Bresnahan and Ramey (1994): lumpy changes in production at plant-level with plant shutdowns/restart, • Hall (1999): non-convexities in shift adjustments across Chrysler ...
... • Cooper and Haltiwanger (2006): lumpy adjustments in labor and investment, • Bresnahan and Ramey (1994): lumpy changes in production at plant-level with plant shutdowns/restart, • Hall (1999): non-convexities in shift adjustments across Chrysler ...
On the Relationship Between Government Spending Multiplier and
... welfare implications of a temporary fiscal expansion. There exist plausible combinations of structural parameter values, across which monotonicity between the multiplier and welfare in a heterogeneous agent environment is not preserved. It is possible that a higher cumulative multiplier can be asso ...
... welfare implications of a temporary fiscal expansion. There exist plausible combinations of structural parameter values, across which monotonicity between the multiplier and welfare in a heterogeneous agent environment is not preserved. It is possible that a higher cumulative multiplier can be asso ...
Gross Domestic Product and Welfare
... The national accounts provide an overall picture of the economy by showing how output generates income that is subsequently spent on consumption or savings. The savings can be invested in either real or financial assets. The national accounts describe all these transactions within a balanced account ...
... The national accounts provide an overall picture of the economy by showing how output generates income that is subsequently spent on consumption or savings. The savings can be invested in either real or financial assets. The national accounts describe all these transactions within a balanced account ...
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... community ties can be of different types—ethnic, religious, clan, etc—but they exert a pull and affect behavior over and above class position. This is the observation. The question is as follows: can the poor become poorer because the rich become richer? Or, to put the question differently, if the r ...
... community ties can be of different types—ethnic, religious, clan, etc—but they exert a pull and affect behavior over and above class position. This is the observation. The question is as follows: can the poor become poorer because the rich become richer? Or, to put the question differently, if the r ...
International ramifications of US tax-policy changes
... United States. This negative terms-of-trade effect reduces the US welfare gains from the elimination of domestic distortions. The tax-policy changes lead to a 2% increase in the overall US output level. The policy changes cause US consumption to rise by 1.1%,6 and they lead to welfare gains. These w ...
... United States. This negative terms-of-trade effect reduces the US welfare gains from the elimination of domestic distortions. The tax-policy changes lead to a 2% increase in the overall US output level. The policy changes cause US consumption to rise by 1.1%,6 and they lead to welfare gains. These w ...
3.1. Changes in the Postwar Global Economy and the Roots of the
... state both grew larger relative to the economy and took on a more active, interventionist role. This assumed somewhat different forms in different countries, reflecting the particular history of each region and country. In Western Europe it took the form of social democracy, in Japan a corporatist f ...
... state both grew larger relative to the economy and took on a more active, interventionist role. This assumed somewhat different forms in different countries, reflecting the particular history of each region and country. In Western Europe it took the form of social democracy, in Japan a corporatist f ...
new products, quality changes, and welfare measures computed
... solving a nonlinear equation. Trajtenberg (1990) proposes approximating this somewhat dif cult to compute quantity by the value computed in equation (6) divided by the average price level in period t 2 1. Finally, the above discussion was cast in terms of price changes, but it can easily be used to ...
... solving a nonlinear equation. Trajtenberg (1990) proposes approximating this somewhat dif cult to compute quantity by the value computed in equation (6) divided by the average price level in period t 2 1. Finally, the above discussion was cast in terms of price changes, but it can easily be used to ...
Learning from the Nordic welfare model
... social welfare spending. The first objective is to examine whether the Nordic model had indeed eroded the economic competitiveness of the adopting countries. The second objective is to see if any lessons can be drawn from the Nordic experience, and how a balance can be struck in Singapore’s policies ...
... social welfare spending. The first objective is to examine whether the Nordic model had indeed eroded the economic competitiveness of the adopting countries. The second objective is to see if any lessons can be drawn from the Nordic experience, and how a balance can be struck in Singapore’s policies ...
Dangerous currents flowing against full employment
... boost jobs turn out to make unemployment worse? … The role of the welfare system in creating and sustaining unemployment has been one of the great unmentionables of Australian public policy debate … Tackling unemployment today is not just a matter of creating more jobs or training-up skilled workers ...
... boost jobs turn out to make unemployment worse? … The role of the welfare system in creating and sustaining unemployment has been one of the great unmentionables of Australian public policy debate … Tackling unemployment today is not just a matter of creating more jobs or training-up skilled workers ...
slides
... „This is an attractive idea (and a very f0shionaable one in eastern Europe today!), but it has to be further elaborated to become believable. I would like to see how exactly ‚society’ will intervene into the state or and I need more proof that there is any need for more intervention – be it by the ...
... „This is an attractive idea (and a very f0shionaable one in eastern Europe today!), but it has to be further elaborated to become believable. I would like to see how exactly ‚society’ will intervene into the state or and I need more proof that there is any need for more intervention – be it by the ...
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... Cross-country comparisons of public sectors commonly use gross expenditure or revenue measures as a share of GDP, cf. Figure 4.1. This approach is problematic since it neglects important institutional differences; see Adema et al. (2011). Some countries pursue a gross principle where social transfer ...
... Cross-country comparisons of public sectors commonly use gross expenditure or revenue measures as a share of GDP, cf. Figure 4.1. This approach is problematic since it neglects important institutional differences; see Adema et al. (2011). Some countries pursue a gross principle where social transfer ...