Efficiency and Equity in Welfare Economics is popular PDF and ePub book, written by PierCarlo Nicola in 2012-10-16, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Efficiency and Equity in Welfare Economics can be Read Online from any device for your convenience.
Efficiency and Equity in Welfare Economics Book PDF Summary
Increasing efficiency in generating national income and improving equity in its distribution among economic agents is at the forefront of priorities of most modern economies. This book presents a model which aims to maximize a symmetrical welfare function under certain constraints which consider both efficiency and equity, i.e. taxes and subsidies, implemented by a public authority. The model is numerically implemented and considers a set of economic agents with starting incomes that satisfy Pareto income law under various values of the alpha parameter. Also, the model implementations respect the social production function. Various experiments are presented which show how income inequality (measured by means of the Lorenz curve and, what I call, the Lorenz-Gini inequality index) and measures of poverty are sensibly reduced by redistributing national income without lowering efficiency in production. A case study, or application, of Italian personal income in 2008 is also presented.
Detail Book of Efficiency and Equity in Welfare Economics PDF
- Author : PierCarlo Nicola
- Release : 16 October 2012
- Publisher : Springer Science & Business Media
- ISBN : 9783642300714
- Genre : Business & Economics
- Total Page : 163 pages
- Language : English
- PDF File Size : 20,9 Mb
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