. In the long run, these reforms lead to higher output and capital, reduced informality, and average welfare gains. They …

different issue: the relationship between inflation and welfare. The literature is surveyed and a model is developed. A key … conclusion is that an increase in inflation targets gives rise to additional welfare costs, even after the extra room to maneuver … additional welfare costs of raising inflation targets from 2 to 4 percent are estimated at about 0.3 percent of annual real …

This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an …

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 …

the adverse welfare impact on households, in particular poor households. This paper evaluates the fiscal and welfare …

-term unemployed. In this paper, we use an incomplete-market model with search unemployment to evaluate the macro-economic and welfare …-run (noncyclical) unemployment rate in Germany by 1.4 percentage points. We also find that the welfare of employed households increases …, but the welfare of unemployed households decreases even with moderate degree of risk aversion. …

reduces domestic welfare in the short run because the temporary gains from higher productivity do not compensate domestic … increase, while foreign residents suffer short-run welfare losses but benefit from welfare gains in the long run. This analysis …