Pareto-improving income redistribution: expanding consumer access to the vaccines market
Pedro Garcia-del-Barrio ()
Economics of Governance, 2017, vol. 18, issue 3, 275-313
Abstract Economic theory has proved that income redistribution in imperfectly competitive markets can increase social welfare and lead to Pareto-improving situations. This paper shows that, under certain assumptions, self-financing tax subsidy schemes can have Pareto-improving effects also in a competitive framework. This result is achieved by exploiting external economies of scale, resulting in a decrease in price along with an increase in output. The case of the vaccines industry and World Health Organization initiatives are examined to illustrate the theoretical analysis.
Keywords: External economies of scale; Income transfer redistribution; Pareto-improving tax-subsidies; Vaccines industry (search for similar items in EconPapers)
JEL-codes: D31 D64 H2 L13 (search for similar items in EconPapers)
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