This paper compares the performances of three alternative nominal anchors, i.e., price inflation, nominal income growth, and money growth in an estimated monetary business cycle model. The representative household’s lifetime utility is used as a natural welfare metric, and the welfare effects of the non-linear dynamics are captured by a quadratic approximate solution method. Strict inflation ta...

This paper examines the macroeconomic effects of environmental tax reform in a growing economy. A model of endogenous growth based on human capital accumulation is used to simulate numerically the growth effects of different environmental tax reforms and calculate their impact on welfare in the short and the long-term. Our results suggest that the magnitude of these effects depends on the type ...

Although it has been shown that prosocial behaviour is heritable, it has not yet been established whether narrower aspects of prosociality are heritable, nor whether a common mechanism influences prosociality across its multiple domains. Here, we examine civic duty, work-place commitment and concern for the welfare of others with a study of prosocial obligations in 958 adult twin-pairs. Multiva...

Public and consumer pressure for assurances that farm animals are raised humanely has led to a range of private and public animal welfare standards, and for methods to assess compliance with these standards. The standards usually claim to be science based, but even though researchers have developed measures of animal welfare and have tested the effects of housing and management variables on wel...

Recent welfare reform legislation requires increased parental work effort and imposes time limits on the receipt of federal assistance. These changes were based in part on assumptions that parental welfare receipt may be negatively related to family processes and children's attitudes and behaviors. Currently, researchers know little about the effects of welfare by itself relative to the effects...

We examine the effects of coordinated trade-tax reforms and isolated tariff reforms on market access, government revenue and welfare for a small monetary economy, under the assumption that a certain fraction of purchases of each good must be financed with cash held in advance. Moreover, we allow for this fraction of purchases to vary across markets, in the sense that the required amount of mone...

in recent years, iran has experienced high level depreciation of the nominal exchange rate (ner). the ultimate effects of such depreciation on iranian families’ welfare and income distribution have been a challenging issue among policymakers and researchers. accordingly, this study evaluates the economic effects of ner depreciation on the rice market, using spatial price equilibrium model. the ...