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Constructing A Social Welfare Function Under Poverty And Inequality With Application To Developing Countries, Nyiwul Linus Mabughi
Constructing A Social Welfare Function Under Poverty And Inequality With Application To Developing Countries, Nyiwul Linus Mabughi
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In this study entitled "Constructing a Social Welfare Function under Poverty and Inequality with Application to Developing Countries"; prepared by Nyiwul Linus Mabughi under the supervision of Dr. Tarek Selim (The American University in Cairo), we provide a post-Sen theoretical conceptualization of a social welfare function and application to developing countries. In the methodology, we undertake a decomposition of efficiency and distribution aspects of welfare and examine the sensitivity of the various elements of the social welfare formulation. We develop a new social welfare .. function based on different ec9nomic development elements. These elements include per capita income (PPP), total …
Emulation, Inequality, And Work Hours: Was Thorsten Veblen Right?, Samuel Bowles, Yongjin Park
Emulation, Inequality, And Work Hours: Was Thorsten Veblen Right?, Samuel Bowles, Yongjin Park
Economics Department Working Paper Series
We investigate Veblen effects on work hours, namely the way that a desire to emulate the consumption standards of the rich induces longer work hours among the rest. Consistent with our model of these asymmetric social comparisons, greater inequality predicts longer work hours in ten OECD countries over the period 1963-1998. The country fixed effects estimates of the impact of inequality on hours are large, robust, and cannot be explained by conventional incentive effects. In the presence of Veblen effects, a social welfare optimum cannot be implemented by a flat tax on consumption but may be accomplished by progressive consumption …