Protectionism under R&D policy: innovation rate and welfare

Welfare Policy and the Employment Rate of Afdc Mothers

The paper analyzes the effect of economic incentives in the AFDC program on the employment of AFDC mothers. Multiple regression analysis is applied to cross-sectional aggregate state program data for 1967. Our estimates indicate that the level of guarantees, tax rates and set-asides affect AFDC employment rates in the direction predicted by economic theory. Short of a drastic reduction in guara...

Trade and Welfare under Alternative Exchange-Rate Systems

This paper evaluates the two standard alternative exchange rate regimes, fixed and flexible, in a stochastic dynamic general equilibrium two-country setting. Conventional wisdom holds that countries often prefer low exchange-rate variability to stabilize trade. This may explain the observed ’fear of floating’ in emerging markets: although most of them claim to adopt a flexible system, in realit...

Monopoly Innovation and Welfare Effects

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the cr...

Innovation surveys and innovation policy

science, technology and innovation policy

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