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welfare argument. Moreover, different tax systems are compared with respect to the size of the subsidy needed for achieving a … adverse effects of subsidies can at least be alleviated. A proportional subsidy to capital increases the overall capital stock …, enabling to draw utility from a wider variety of goods. However, the regional effects are different: compared to the no-subsidy …
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Unemployment increased drastically over the course of the Great Recession from 4.5 percent prior to the recession to 10 percent at its peak in October 2009. Since then, the unemployment rate has come down steadily, and it stood at 5.8 percent in November 2014. Based on existing analyses and some...
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