Abstract
In this section we look at first best Pareto optima. It will be shown that first best Pareto optima exist and that they can be represented as price equilibria with lump-sum transfers and lump-sum taxes. First of all we introduce the set of attainable states (see Debreu (1959)).
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© 1983 Springer-Verlag Berlin Heidelberg
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Müller, H.H. (1983). First Best Pareto Optima. In: Fiscal Policies in a General Equilibrium Model with Persistent Unemployment. Lecture Notes in Economics and Mathematical Systems, vol 216. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48332-5_6
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DOI: https://doi.org/10.1007/978-3-642-48332-5_6
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-12316-3
Online ISBN: 978-3-642-48332-5
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