Welfare State’s Redistributive Effect Is Exaggerated

Welfare Analysis and Redistributive Policies

Applied welfare analyses of redistributive systems nowadays benefit from powerful taxbenefit microsimulation programs combined with administrative data. Arguably, most of the distributional studies of that kind focus on social welfare defined as a function – typically inequality or poverty indices – of household equivalized income. In parallel, economic research has made considerable progress i...

Non-redistributive Second Welfare Theorems

The second welfare theorem tells us that social welfare in an economy can be maximized at an equilibrium given a suitable redistribution of the endowments. We examine welfare maximization without redistribution. Specifically, we examine whether the clustering of traders into k submarkets can improve welfare in a linear exchange economy. Such an economy always has a market clearing εapproximate ...

The gap effect is exaggerated in parafovea.

In central vision, the discrimination of colors lying on a tritan line is improved if a small gap is introduced between the two stimulus fields. Boynton et al. (1977) called this a "positive gap effect." They found that the effect was weak or absent for discriminations based on the ratio of the signals of long-wave and middle-wave cones; and even for tritan stimuli, the gap effect was weakened ...

The news of the death of welfare economics is greatly exaggerated

The Scandinavian Welfare States