The aim of this paper is to compare statistical properties of stock price indices in periods of booms with those in periods of stagnations. We use the daily data of the four stock price indices in the major stock markets in the world: (i) the Nikkei 225 index (Nikkei 225) from January 4, 1975 to...

The income gains in the top 1 percent are the primary cause for the rapid growth in U.S. inequality since the late 1970s. Managers and executives of firms account for a large proportion of these top earners. Chief executive officers (CEOs) in particular have seen their compensation increase...

The Matthew effect refers to the adage written some two-thousand years ago in the Gospel of St. Matthew: “For to all those who have, more will be given.” Even two millennia later, this idiom is used by sociologists to qualitatively describe the dynamics of individual progress and the...

The gravity model is widely used to estimate the movement of people and goods. We use the gravity model to explain the characteristics of the movement of Korean people between and within cities via various modes of transportation using data from 246 county/district-level municipalities. We use a...

Transitioning from one form of energy to another has led to social change in areas such as production methods, quality of life, and labor productivity. In addition, there is a relationship between this social change and the emergence of different types of political systems. Surprisingly, there...