Showing 501 - 510 of 576
This paper compares long-run implications for growth and fertility of four types of taxation for social security with positive bequests. A tax rise under lump-sum taxation enhances growth but lowers fertility, while other types of taxation do so under additional restrictions. A tax rise under...
Persistent link: https://www.econbiz.de/10005738840
This article investigates why many eligible for welfare do not participate. We show that on-the-job wage-rising potential is the key factor motivating nonparticipation. Although individuals with very low earnings and little wage-rising potential are typically welfare recipients, those with good...
Persistent link: https://www.econbiz.de/10005746747
We show that in principal only a small degree of probability distortion is necessary for agents to exhibit the Allais paradox. We also show that the choices observed in the Allais experiments employing small real payoffs cannot be explained by Cumulative Prospect Theory without the assumption of...
Persistent link: https://www.econbiz.de/10005643842
Infrastructure can affect sectoral productivity and lead to industrial structure changes. Under the framework of Harrigan (1997), this study provides an empirical analysis of the effect of infrastructure on China's industry-level productivity and regional specialization during the period of...
Persistent link: https://www.econbiz.de/10010748051
Estimating the recovery rate and recovery amount has become important in consumer credit due to the new Basel Accord regulation and the increase in the number of defaulters as a result of the recession. We compare linear regression and survival analysis models for modelling recovery rates and...
Persistent link: https://www.econbiz.de/10010796135
The article addresses two questions related with tourism as a service trade. Can tourism be explained as other export activities? Does service liberalisation have a positive or negative impact on tourism receipts in destination countries? Previous research has either focused on the demand side...
Persistent link: https://www.econbiz.de/10010690580
The role of rich-club connectivity is significant in the structural property and functional behavior of complex networks. In this study, we find whether or not a very small portion of rich nodes connected to each other can strongly affect the frequency of occurrence of basic building blocks...
Persistent link: https://www.econbiz.de/10010588463
This paper considers socially optimal government policies in a dynastic family model with physical capital, human capital, endogenous fertility and positive spillovers from average human capital. Such spillovers reduce human capital investment but raise fertility from their social optimum. We...
Persistent link: https://www.econbiz.de/10010594901
Previous studies have shown that the stationary and nonstationary time-varying volatilities have different implications on the unit root test. In this paper, we provide a Bayesian unit root test for an AR(1) model with stochastic volatility and leverage effect. Monte Carlo simulations show that...
Persistent link: https://www.econbiz.de/10010597527
Persistent link: https://www.econbiz.de/10010597827