Booms and busts in the UK housing market
Article Abstract:
The upsurge during 1980s and decline during 1990's of the United Kingdom's housing sector can be attributed to parameter shifts that have resulted to the financial liberalization of the 1980s. The boom during late 1980s was being attributed to low initial debt levels, real house prices, interest rates and housing supply. During 1990s, UK's housing industry begins to decline due to reversal of factors that had contributed to the housing boom of 1980s.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
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Paretian welfare judgements and Bergsonian social choice
Article Abstract:
Two approaches that could improve welfare economics were explored. The introduction of the compensation criteria was the first approach which offered hypothetical compensation payments in an attempt to widen the applicability of the Pareto principle. The novel concept of a social welfare function which originated from the belief that welfare economics is responsible in the analysis of the implications of value judgements was also introduced.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1999
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