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Four stylised facts of economic growth in DCs are set up initially. Despite its obvious simplicity the linear growth model with subsistence consumption is able to reproduce two of them: a rise in the saving rate along with per capita income as well as divergence. The rate of convergence shows...
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In this paper we challenge the conventional wisdom that using workfare as a supplementary screening device to means-testing is socially undesirable when the overnment objective is welfarist, namely, to ensure that all members of society will attain some minimal level of utility. Our argument...
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>), material wealth and happiness. Specifically, we intend to answer the following research question: Are wealth and basic needs … indicators always interchangeable when analyzing happiness determinants in low income settings? The paper focuses on seven … common assumption that at low economic levels, wealth or income matter for people’s happiness because they increase …
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