Browsing by Subject "Welfare economics."

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    Determinacy of equilibrium in a cash-in-advance model
    (2000) Tekatlı, Necati
    This thesis studies on the determinacy of equilibrium in a cash-iii-advance production economy. The model consists o f two types of infinitely lived agents, producer and labor tyjoes. Producer types face financial constraints in their labor demands. There are two markets operating in a sequence, first labor market and then goods market open in each period. In this setup, the possibility o f selffulfilling inflations, deflations and fluctuations are investigated. The first result of the thesis rules out these possibilities. As a second result, we observe that the initial distribution of money across types is irrelevant regarding equilibrium consumption and welfare levels.
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    Stability of covers under different rights structures
    (2012) Akbulut, Çiğdem
    A countryís social welfare depends on Örmsí proÖts and consumersí surplus. Given unions of countries, a countryís aim is to maximize its own social welfare when it decides to enter or exit a union. For examining unions, we use the notion of a cover as elaborated in Koray (2007).We utilize the Öndings of Ilk¨l¨Á · (2010) about the Cournot equilibrium in our setting to examine core stability and e¢ ciency of covers of countries.We adapt di§erent rightsístructures based on; free exit, free entry, approved exit and approved entry introduced by Sertel (1992) to the context of covers, along with introducing some stronger structures and study how stability of covers varies when linkage costs are imposed upon countries.