Housing typically takes up a major proportion of households' expenditure, and thus it certainly plays a critical role in shaping the pattern of income inequality and social mobility. Whether high housing price-to-rent ratio will am- plify inequality and inhibit social class upgrading is still a...

In this paper, we build an overlapping generation model to examine the reason why developed countries with similar background have implemented different social health insurance systems. We propose two hypotheses to explain this phenomenon: (i) the different participation rates of the poor in the...