Author/Authors
Vouvaki، نويسنده , , Dimitra and Xepapadeas، نويسنده , , Anastasios، نويسنده ,
DocumentNumber
3540435
Title Of Article
Changes in social welfare and sustainability: Theoretical issues and empirical evidence
شماره ركورد
6340
Latin Abstract
We analyze the time derivative of a Ramsey–Koopmans social welfare function (R–K SWF), as an indicator of genuine investment and current change in social welfare (CSW) conditions, when feedback or arbitrary rules are used for selecting policy variables in non-optimizing economies. When policy variables are selected arbitrarily, their accounting prices should determine current CSW in addition to the accounting prices of the economyʹs assets and genuine investment should be adjusted accordingly. We use our theoretical framework to characterize CSW conditions for non-optimizing economies, based on direct estimation of accounting prices. We use our theoretical model to provide empirical evidence regarding the CSW conditions for the Greek economy.
From Page
473
NaturalLanguageKeyword
Genuine investment , Arbitrary rule , Feedback rule , Accounting prices , Non-optimizing economy , Current change in social welfare , Sustainability
JournalTitle
Studia Iranica
To Page
484
To Page
484
Link To Document