Summary A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable...

Purpose – The purpose of this paper is to examine the multiplier effects of the grain subsidy program in China, which is a large food self-sufficiency project that is implemented as a cash transfer program. Income multiplier effects have not been empirically examined in the evaluation of the...

Abstract In comparison to the standard literature on inequality and growth which assumes the former to be exogenous, we formulate a model in which inequality and growth are both endogenous. Long-run distribution, at least locally, is shown to be independent of the initial distribution of factor...

Abstract In this paper I explore the quantitative implications for savings of population aging. In doing so, I pay particular attention to some features that have been partially over-looked in the literature. These features include the details of the population aging process, the initial...

Purpose The structural change of the dairy industry has been a long-term process with fewer, larger dairy herds in all regions. The purpose of this paper is to evaluate whether this structural change is leading to less income and wealth equality across dairy farms and how these factors differ...

Abstract Der demografische Wandel in Deutschland lässt sich auch ohne einen weiteren Abbau bei den Renten finanzieren. Eine Kapitaldeckung oder Teil-Privatisierung ist gesamtwirtschaftlich betrachtet kontraproduktiv. Hierdurch werden lediglich die Gewinn- und Vermögenseinkünfte und die...

Purpose The purpose of this paper is to find out whether the election of star analysts leads to the conflict of interests between analysts\institutional investors and individual investors. And then, further investigate how the election results to influence the individual investors’ decision...

Purpose This study aims to understand how scholarly research addresses sustainable investments’ contribution to sustainable development (SD) within the sustainable development goals (SDG) framework. This is achieved by focusing on how the asset management industry, through the practice of...

Abstract This paper studies the business cycle dynamics of income and wealth distributions in the context of the neoclassical growth model where agents are heterogeneous in initial wealth and non-acquired skills. Our economy admits a representative consumer which enables us to characterize...