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Economics

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On the efficiency and equity trade-off

Article Abstract:

Efficient policy measures are discussed. Lump-sum transfers, equity, heterogeneous agents, capital movements, equity-effiency trade-off, the Gorman aggregation, Pareto movement, and other economic theories and conditions which went into formulating a new method to rank alternative allocations in terms of distributional implications are discussed.

Economic aspects, Welfare economics, Capital movements, Money transfer

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Implications of rational inattention

Article Abstract:

The implications of information-processing constraints in respect of the dynamic programming problem, which is used to understand the current macroeconomic models, are discussed. The ways in which the effects of a change in policy 'rule' and the different ways to construct welfare criteria in assessing macroeconomic policies are examined.

Models, Macroeconomics

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International dimensions of optimal monetary policy

Article Abstract:

A baseline general equilibrium model of optimal monetary policy among interdependent economies with monopolistic firms and nominal rigidities is presented.

United Kingdom, Science & research, Intnl Marketing, Research, Export marketing

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