In the present paper, we analyze the effect of unemployment benefits on unemployment. We do this by elaborating on a model developed by Miyagiwa (1988) in several respects. First, we establish Walras' law and give an explicit consideration to the government budget balance. We also incorporate...

There exists a utilitarian tradition la Sidgwick of treating equal generations equally in the form of anonymity. Diamond showed that no social evaluation ordering over infinite utility streams satisfying the Pareto principle, Sidgwick's equity principle, and the axiom of continuity exists. We...