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'welfare implications' is a correct and usable phrase in written English.
You can use it, for example, to describe the consequences for someone's wellbeing of a certain situation, policy, change, or decision. For example, "The welfare implications of the proposed budget cuts are unclear."
Exact(60)
In this case, the welfare implications are more complex.
"The welfare implications of finding how to turn around the growth performance of Africa are so staggering," he writes, "that this has probably become the most important question in economics".
Key meetings between social services, the UK Border Agency (UKBA) and Yarl's Wood staff designed to discuss the welfare implications of keeping a child locked up for more than 28 days dwelt instead on PR and legal concerns.
The social welfare implications are ambiguous.
The welfare implications of this result are not clear.
"The welfare implications are horrendous - it is a cruel business".
The substitution effect and the income effect have contrasting welfare implications (see Chetty and Looney 2006).
The welfare implications of the results are not clear and deserve further inspection.
Household consumption expenditures and the welfare implications are presented in Table 9.
To investigate the efficiency losses further, we analyse the distributional and welfare implications.
What should be the normative benchmark we use when evaluating the welfare implications of policy initiatives?
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com