This paper introduces the concept of spillover tax revenues, which are also known as "indirect" or "secondary revenues," or "externality effects." Based on a case study of high-speed rail in Taipei,China, the spillover tax revenues are identified using the regional tax data through a DID...

The COVID-19 pandemic highlights the importance of information and communications technology (ICT) not only for the economy but also for human well-being. However, the investment gap in ICT infrastructure has been growing and is expected to reach more than $30 billion by 2040. We argue that one...

Social protection, especially health care systems for the poor, is essential to reduce inequality. Health-related shocks, such as death or severe sickness, can affect households' budgets significantly and create serious household trauma, leading to higher possibilities of them falling into...

This paper examines the tail dependence between energy and housing markets in the United States by using cross-quantilogram approach. Our main finding shows a housing returns are dependent on the oil returns in a large part of the return distribution, and that the housing returns are more likely...

This paper revisits the fiscal sustainability condition proposed by Domar (1944). The Domar condition is derived from the government budget constraint and thus focuses on the supply side of the government bond. By considering the demand for the government bond, this paper finds that public debt...

This paper examines the effects of infrastructure projects on economic performance by studying the changes in government revenue in the Northern Midland and Mountainous region of Viet Nam. More specifically, this paper investigates the effects of two expressway projects, namely (1) the Noi...

This research piece is an empirical attempt to model the Indian economy at an aggregate level with annual data, ranging from 1980 to 2019. The major theoretical premise of the paper mimics the New Keynesian framework, which is based on the microeconomic foundations of Keynesian economics. The...

Ever since the occurrence of the first oil shock, which struck the Japanese economy in 1973, Japan has made efforts to increase its energy efficiency, reduce its energy intensity, decrease its dependence on fossil fuels, and diversify its energy basket by introducing alternative energy sources,...

An energy resource as a production input plays a major role in various economic sectors, including commodity production, transportation, and electricity generation. However, increased energy consumption may lead to more air pollution, resulting in negative health impacts in a society. The main...

Japan's aging population poses a variety of problems, one of which is the increase in neurological disorders. In this study, we propose a framework quantifying the decline in gross domestic product (GDP) resulting from the reduction of labor from two neurological disorders, Alzheimer's disease...