In this paper, we quantitatively assess the welfare implications of alternative public education spending rules. To …

switch to private provision welfare improving for all agents including public employees. …

We study the importance of uncertainty and public finance to the welfare ranking of three environmental policy … quality is treated as a public good. To compare alternative policies, we compute welfare-maximizing values for the second …

policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include … and welfare gains along the transition and balanced growth paths. In contrast, a lower markup in the research sector hurts … innovation, leading to lower growth over both paths and welfare losses along the transition. …

externalities, suggests that public spending on education is both growth and welfare promoting. However, given that public education … spending crowds-out private consumption, the welfare maximising size of the government is less than the growth maximising one …. Our results further suggest that welfare gains, as high as four percent of consumption, are obtainable if the composition …

externalities, suggests that public spending on education is both growth and welfare promoting. However, given that public education … spending crowds-out private consumption, the welfare maximising size of the government is less than the growth maximising one …. Our results further suggest that welfare gains, as high as four percent of consumption, are obtainable if the composition …

, especially with respect to output. In stark contrast, however, a formal general equilibrium welfare assessment of the volatility … implications of these alternative instrument/target combinations reveals the welfare gains from active policy, measured as a share …