Naslov
Welfare Function on the Example of the Republic of Croatia

Autori
Kandžija, Vinko

Izvornik
Ekonomia - Uniwersytet Warszawski (0137-3056) 13 (2005); 33-42

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
welfare function; economic policy; Croatia

Sažetak
The problem of derivation and analysis of the welfare function is one of the basic areas of interest for the economic theory and practice. The cognition of the levels and forms of the function in a certain country implies the understanding of its economic development. Macroeconomic environment is a determining factor in the welfare level and population's living standard in a country, as well in the Republic of Croatia. By directing active macroeconomic measures towards the realization of fundamental macroeconomic goals, the Government directly determines aggregate and individual functions of the welfare. The main economic goal of every country is to maximize the level of welfare and a high level of socio-economic development. The establishment of the Pareto optimal allocation is the main goal of every society, relating to the given functions of productivity and consumption (of individuals) and the budget restraint as well as the price levels. Not complying to this principal individuals and enterprises cause allocation infectiveness (loss of resources and externalities), which requires the intervention of the Government (transfers, taxation, amendment of laws, stabilization measures...).

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA