The model is a benchmark for investigating the welfare properties of financial systems.
For instance, Hatton (2004) adopts a standard social planner approach, while Facchini et al. (2006) study the welfare properties of policy coordination in a representative democracy framework.
The distinction between value added and gross output that naturally arises in this context is of key importance to explore the welfare properties of the model economy.
Actuaries' insurance disciplines include life insurance; health insurance; Pensions, annuities, and asset management; social welfare programs; property insurance; casualty and general insurance; and reinsurance, to name some.
The annual household income was defined as the aggregate of household income from production (10 categories), wage incomes of household members, transfer income (gifts, pensions, remittances, welfare) and property income (interest, rent)[ 20].
The EPA alleged that as a result of the fire, the atmosphere in the La Trobe Valley became noxious and harmful or potentially harmful to people's health, welfare, safety or property.
And this month the Environment Protection Agency brought 12 air pollution charges against companies that operate the mine, including that they polluted the atmosphere to such an extent it was "harmful or potentially harmful to the health, welfare, safety or property of human beings".
The liberated town required rules on how it would stay liberated, and though still relying heavily on the goodwill of its citizens to create welfare and respect property rights, a ruling council was made responsible for creating schools and daycare centres to service the generation born within their borders.
The sum total of rights and privileges enjoyed -- be it access to jobs, education, access to property, welfare benefits or the performance of the Hajj depends upon where one belongs in the pecking order.
Legislators have drafted three bills this year to legalize same-sex marriage and potentially offer those couples rights such as welfare benefits, joint property rights and shared custody of children.
