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This paper empirically analyze the nonlinear relation between real output per capital and public debt by employing threshold cointegration method based on ARDL model. Empirical results show that there exists a threshold cointegration relationship between government debt and real output per...

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How different political market structures influence the behaviors of participants and the distribution of benefits was studied n the framework of game theory. Theoretical model showed that in the monopolized political market, the participation surplus of participants would serve as the rents of...

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This article employed a voting model to describe the optimum strategy for later retirement. The results indicated that, later retirement just a emergency measure to pension shortfall. The preference to later retirement was related with the gap between actual age and legal retirement age. The...

As is considered in this paper，none of the ever existing long wave theories can totally describe or correctly explain the chronic fluctuating characters of the capitalist world economy system since the year 1857. Based on Karl Marx’s greatest work “Capital” and combined with considerable...

Abstract: Ever since the separation of the loan capital from the commercial capital and the industrial capital, the virtual economy has been generated and expanded gradually along with the economic development. The virtual economy is a double-edged sword: on one hand, it promotes the development...

This paper, by building a New Keynesian dynamic general equilibrium model that combines with distortionary taxation, pollution decision of firms, and environmental quality evolution under uncertainty, analyzes shocks from markets and taxation policies on macro-economy and environmental quality...

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