Economics

(Source:Thirlwall A.P. Planning, Resource Allocation and Choice of Techniques, page no. 212/213) Let us assume that world prices are measure...

The shadow exchange rate or the shadow price of foreign exchange is required in the conventional approach to social cost-benefit analysis wh...

  The justification in the Little-Mirrlees approach for valuing all goods at world prices is that it avoids the use of the exchange rate in ...

In the UNIDO approach, the optimal shadow wage is given by, W* = P A + s* (P INV - 1)W        ...          ...          ...          (9)  ...

Using the Little - Mirrlees approach, the valuation if agricultural production forgone (P A ), and the value of increased consumption (C - m...

In imperfect or distorted market or in dual economy, such as typical developing country, where the marginal product of labor differs between...

All benefits and costs have to be converted into a common unit of account or numeraire. The traditional approach is to take consumption meas...