Welfare-improving Government Behaviour and Inequality - Inspection Using a Heterogeneous-agent Model

Miguel Viegas () and Ana Ribeiro
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Miguel Viegas: GOVCOPP, DEGEI, Universidade de Aveiro

CEF.UP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: Governments behavior is expected to be non-neutral in terms of impacts on both welfare and inequality. In spite of their multivariate form, a tentative assessment of such inequality impacts can be provided by using a general equilibrium model with heterogeneous-agents and where wealth and income distribution is determined endogenously. Using a model capable of exploring the relationship between fiscal policy variables and the endogenous cross-section distribution of income, wealth, consumption and leisure, this paper produces a welfare and inequality analysis of several equilibriums resulting from different combinations of debt levels and of government budget variables. Moreover, such assessment is based on the empirical reality of the EU countries.

Keywords: government budget composition and debt; heterogeneous agent model; idiosyncratic shock; inequality; welfare. (search for similar items in EconPapers)
JEL-codes: E17 E60 H60 I30 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2011-06
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Welfare-improving Government Behaviour and Inequality-Inspection using a Heterogeneous-agents Model (2011)
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