Yano (2010), "Expectation-driven fluctuations and welfare loss under free trade in two-country models", International Journal of Economic Theory 6, 97-125.Nishimura, K., Venditti, A. and M. Yano (2010): "Expectation-Driven Fluc- tuations and Welfare Loss under Free Trade in Two-Country ...
if the promised amount is not revised regularly to account for inflation, it may lead to a loss of welfare to the poor. Old age pension amounts haven’t been revised in the last three decades since their inceptions and have
In these scenarios, women’s labor productivity is depreciated by approximately 4% and 13%, respectively, assuming an average number of children of 2.16 in the initial steady state. Table 12 summarizes the results for alternative values of \(\varGamma\). Given the negative impact of children o...
increasing R&D subsidies in our homogeneous innovation model leads to a welfare loss of about 0.64% of lifetime consumption despite a substantially higher average consumption growth rate. The reason is due to the substitution effect leading to lower levels of (normalized) consumption and leisure. Mor...
What is utility in economics? What are the role of externalities on marginal social cost? What does Welfare Economics mean, and how does it apply to the allocation of resources and its effects on today's society? Explain in detail. What is the definition of marginal utility in economics? Wh...
Net welfare loss is the welfare loss due to too high or too low production level and consumption of a commodity or resources. For example, if the tax for petrol increases, consumer surplus is lost since the consumer may not be able to travel and get a commodity they oug...
The consumer surplus3 gained from the direct rebound (additional driving) is compared to the increase in negative externalities. On the one hand, people adapt to the more efficient and hence cheaper – in terms of running costs – vehicles and consumes more of the energy service, so their ...
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From 37 comparison pairs, clearly lower loss values were found in 24 pairs (on average, −26%). The advantages of organic farming identified in the analysis can be explained by the crop rotation in organic systems with a significant share of grass-clover leys, by higher soil cover and ...
Clearly, the firms can avoid the loss incurred from the implementation of the new technology by preventing the auction. If the firms have the choice to coor- dinate behavior, then no firm will initiate the bidding process, the auction will not start, and there will be no winner. In this...