Does the social safety net improve welfare? Conventional wisdom says that means-tested social safety net programs improve welfare because they provide partial insurance against large negative shocks by guaranteeing a minimum consumption floor, but some economists have argued that they may also...

A fuzzy logic-based energy management strategy for a hybrid power system used in electric vehicles was developed and verified in this paper. First, the topology structure of a hybrid power system was put forward that the ultracapacitors connected with the battery pack in parallel after a...

Battery peak power capability estimations play an important theoretical role for the proper use of the battery in electric vehicles. To address the failures in relaxation effects and real-time ability performance, neglecting the battery’s design limits and other issues of the traditional peak...

Most of the studies examining the implications of social security reforms in China use overlapping generations models and abstract from the role of family support. However, in China, family support plays a prominent role in the well-being of the elderly and often substitutes for the lack of...

A general equilibrium model that properly captures the risks in old age, the role of family insurance, changes in demographics, and the productivity growth rate is capable of generating changes in the national saving rate in China that mimic the data well. Our findings suggest that the...

The share of wealth held by the top one percent of Americans has increased from about 24% in 1980 to 40% in 2010. This paper examines the potential role played by three factors in accounting for this increase - decline in the corporate tax rates, increase in the income risk, and the decline in...

Rising income and wealth inequality across the developed world has prompted a renewed focus on the mechanisms driving inequality. This paper contributes to the existing literature by studying the impact from life-cycle savings, intergenerational transfers, and fertility differences between the...

Rising income and wealth inequality across the developed world has prompted a renewed focus on the mechanisms driving inequality. This paper contributes to the existing literature by studying the impact from life-cycle savings, intergenerational transfers, and fertility differences between the...

This paper investigates the effects of financial development of FDI target countries on FDI inflows, and how bilateral political relations change the effects through the evidence from China. The results show: (1) FDI target countries’ financial activities, financial sizes, and financial...