This paper is concerned with the measurement of individual welfare in labour supply models which allow for the impact of income taxation and income support schemes on labour supply decisions. The paper is motivated by the concern over the need to have measures which can be interpreted easily,...

This paper examines the computation of welfare measures for use with labour supply models. The standard method of computing compensating and equivalent variations does not allow sufficiently for the nonlinearity of the budget constraint in such models. An alternative method is suggested and...

We present an endogenous growth model with externalities of capital and elastic labour supply where we allow for public debt and public spending that is welfare enhancing. We analyze effects of different debt policies on stability and how these policies affect long-run growth and welfare. The...