in macroeconomic studies, social welfare is assumed as a function of inflation and unemployment. although the social welfare function which is dependent to unemployment and inflation variables has been used widely in macroeconomic theories, but this relation needs to be tested through empirical observations. this paper, using variables such as to economics of happiness area and subjective wellb...

We perform a welfare analysis of transport infrastructure improvements in the presence of an imperfect labor market, allowing for endogenous wages and involuntary unemployment. Efficiency wage setting is incorporated in a spatial two-region general equilibrium model, written as a welfare program. In our model, firms set wages above the market clearing level to create an inducement for employees...

This study aims to study the effect of elimination of government intervention and liberalizationin meat market in rural area in Iran on consumer welfare with time series data for 1981-2007.An alternative partial equilibrium model was developed to examine the welfare effect of meattrade liberalization. Result show that on producer side, government budget (subsidy onproduction), foreign exchange ...

This paper shows that “wasteful” litigation about intellectual property may be welfare enhancing. The aim of an intellectual property protection system is to solve the trade-off between ex-ante innovation incentive and ex-post monopoly welfare loss. The litigation about intellectual property in court decreases the expected rent from intellectual property, therefore reducing the incentive to inn...

This essay introduces a new featured section, to be published in Small Axe annually, that explores the critical vocabulary of field Caribbean studies.

We analyze the welfare e¤ect of governmental regulation for individuals who consider anticipated regret in their decision making process. While governmental policies by directing choice distort individual decisions in the private market they can alleviate individuals’pain associated with the feeling of regret. We specify a general model to highlight this trade-o¤ and investigate two policies mo...