RESEARCH PAPER NO. 774
QUADRATIC UTILITY, LABOUR SUPPLY AND THE WELFARE EFFECTS OF TAX CHANGES
by
John Creedy
JANUARY 2001
Department of Economics. University of Melbourne. Melbourne Victoria 3010 Australia
Contents
1. Introduction
2. Labour Supply
3. The Slutsky Condition
4. Welfare Changes
4.1 The Expenditure Function
4.2 Compensating and Equivalent Variations
5. Numerical Examples
5.1 The Tax System
5.2 Utility and Labour Supply
6. Conclusions
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