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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...

Generally, Political Business Cycles happens in western economy, which reflects that macro-economy fluctuating is according with election cycles. The reason is that statesmen and citizens often do not have the same interest. And also, there is information asymmetry between them. Consequently,...

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Chinese Abstract:...

English Abstract: The authors review the availability and allocation of commercial credit in China, the investment options presented to savers and the funding options available to Chinese banks. They highlight the markets intrinsic deficiencies, vast externalities and tremendous potentials for...

This paper construct the NK model with Cosummer’s Heterogenicity included three sectors, in which government is divided into three type of fiscal sector, social security department and central bank. The tax shocks, social security fees rate shock and fiscal expenditure shock are incorporated...

From the perspective of environmental macroeconomics, in addition to environmental equilibrium effected by environmental policies, the fiscal policy have an impact on the environment equilibrium. On this basis, this paper constructs a RBC model with environmental equilibrium, that contains...

This paper construct the NK model with Cosummer’s Heterogeneity included three sectors, in which government is divided into three type of fiscal sector, social security department and central bank. The tax shocks, social security fees rate shock and fiscal expenditure shock are incorporated...

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...