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Limits to Redistribution and Intertemporal Wedges: Implications of Pareto Optimality with Private Information: A Reprint from “Economic Quarterly”
Numerous recent studies on macroeconomic policy --

 
Our Price: $15.00
By Borys Grochulski (au)
Year: 2008
Pages: 23
Binding Paperback

Product Code: 1437909442

Description
 
Numerous recent studies on macroeconomic policy -- including monetary policy and tax policy -- have incorporated private information in their models of the economy. In such models, characterization of Pareto-optimal allocations is an important step of analysis. In this article, the author studies Pareto optima in a simple model economy with heterogeneous agents. He characterizes and compares all Pareto-optimal allocations both with and without private information. He also demonstrates the limits to redistribution and intertemporal distortions that arise as implications of Pareto optimality with private information. Charts and tables.

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