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Economies with rights: Efficiency and inequality

Author

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  • Carlos Hervés‐Beloso
  • Francisco Martínez‐Concha
  • Emma Moreno‐García

Abstract

We consider a scenario where inequality levels originate harmful effects on society. To alleviate this negative externality, we introduce tradable consumption licenses within a general equilibrium framework to obtain efficient outcomes, reduce inequality, and improve social welfare. This mechanism would be easily implementable with the necessary support of the law.

Suggested Citation

  • Carlos Hervés‐Beloso & Francisco Martínez‐Concha & Emma Moreno‐García, 2024. "Economies with rights: Efficiency and inequality," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 26(1), February.
    • Handle: RePEc:bla:jpbect:v:26:y:2024:i:1:n:e12676
    DOI: 10.1111/jpet.12676
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