The marginal social valuation of income for the UK
Purpose - The British government takes equity issues formally into account in its appraisal of social projects and policies. However, evidence on which the measured distributional welfare weights are based is neither broad enough nor sufficiently reliable. This paper seeks to address these issues by considering a wider body of evidence. Design/methodology/approach - An important component of the welfare weight measure advocated by HM Treasury is the elasticity of marginal utility of consumption ( Findings - The results for Originality/value - Modified tax-based findings on
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Volume (Year): 35 (2008)
Issue (Month): 1 (March)
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