We build an endogenous growth model with consumer-generated data as a new key factor for knowledge accumulation. Consumers balance between providing data for profit and potential privacy infringement. Intermediate good producers use data to innovate and contribute to the final good production,...

We provide new evidence on the long-run relationship between economic growth and labor share in national income, based on a comprehensive panel data set for 144 countries from 1950 to 2017. Our primary finding is that labor share follows a cubic relationship with real GDP per capita over the...

The short answer is yes. This paper studies the potential impact of artificial intelligence (AI) on families' fertility choices. According to the literature, AI is increasingly automating and replacing tasks performed by people, while the population is usually assumed to be exogenous. Keeping...

We have proposed a two-sector two-country behavioral trade model to examine the effect of household’s creation intention on production, consumption and net export (import). Our theoretical framework predicts that countries with higher creativity intention are inclined to export creative goods,...

We propose a theory of rational "Rush", emphasizing the quantity of rational over-investment in contrast to the theory of irrational price "Bubble". We illustrate an important friction when financing breakthrough innovations: non-excludability and spillover of uncertain knowledge due to...

The previous research has not reached a consensus on whether the protection of intellectual property rights (IPR) stimulates innovation, especially in the digital era. And due to the lack of exogenous variation of copyright statute, solid evidence on the causal effect of copyright protection is...

Chapter 1: The introduction of the portfolio management and risk evaluation -- Chapter 2: The major trends in financial portfolio management -- Chapter 3: Machine Learning and AI in financial portfolio management -- Chapter 4: Introduction of Alternative data in Finance -- Chapter 5: Alternative...

In this study, we estimate and investigate the evolution of monetary rules in China and the United States in the 21st century. Our goal is to examine if financial stability has been taken into consideration in practical monetary policy decision-making. By proposing a new estimation method that...

In this paper we introduces a new coalitional game with transferable utility — called two-sided platform game. The participation of platform user on one side benefits the other side, and the platform can be established if and only if there is more than one entrepreneur. Well-known point...

In this paper, we build a growth model using a new type of data for knowledge accumulation. This type of data can be viewed as a byproduct during the production process, therefore illustrating a new source of data supply, i.e., producer data. Labor will be employed for collecting and cleaning...