IDEAS home Printed from https://ideas.repec.org/a/bla/jpbect/v2y2000i1p43-69.html
   My bibliography  Save this article

The Effectiveness of Distributive Policy in a Competitive Economy

Author

Listed:
  • Jean Mercier Ythier

Abstract

I consider an abstract social system made of individual owners endowed with nonpaternalistic interdependent preferences, who interact by means of individual gifts and by exchanges on competitive markets. The existence of equilibrium is established. I identify the set of allocations that are decentralizable in the sense that they are general equilibria for some vectors of market prices and initial endowments. This set is characterized in a simple way from the social endowment and individual market and distributive preferences. Decentralizable allocations are all accessible to distributive policy, unless public transfers are confined to some neighborhood of 0. In the latter case, distributive policy remains free to perform local redistributions of wealth across the components of the graph of equilibrium gifts.

Suggested Citation

  • Jean Mercier Ythier, 2000. "The Effectiveness of Distributive Policy in a Competitive Economy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 2(1), pages 43-69, January.
    • Handle: RePEc:bla:jpbect:v:2:y:2000:i:1:p:43-69
    DOI: 10.1111/1097-3923.00029
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1097-3923.00029
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1097-3923.00029?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jean Mercier Y Thier, 2004. "Regular Distributive Social Systems," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 6(1), pages 109-143, February.
    2. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, August.
    3. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jpbect:v:2:y:2000:i:1:p:43-69. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/apettea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.