Public capital has been considered to be the wheels of a nation's or a region's economic activity. The reverse effects, the contributions of economic growth to public capital, are also worth analysing. Non-structural approaches in econometrics were implemented for the Australian economy using...

Public capital has been considered to be the wheels of economic activity in a nation or region. The reverse effect, the contribution of economic growth to public capital, is also worth analysis. The non-structural vector auto-regression (VAR) approach is performed for the Australian economy...

Using the Panel Study of Income Dynamics, this paper studies household stock market participation and trading behavior in 2007 - 09, a period that saw a major stock market downswing. The stock market participation rate fell after the market crash. We find evidence that less-educated households,...

Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this paper, we develop a life-cycle model to examine the interaction between households' use of TDA and their housing decisions. The model generates life-cycle patterns of home...

This paper investigates the effect of private pensions on the retirement wealth distribution. We incorporate stochastic private pension coverage into a calibrated life-cycle model with stochastic earnings. Private pensions lead to higher net worth inequality at retirement, which is closer to the...

We investigate the effect of reaction-time delay of drivers upon traffic flow analytically and numerically. We extend the optimal velocity difference model by taking reaction-time delay of drivers into account. The stability condition is obtained. The Burgers, Korteweg–de Vries (KdV) and...

Population aging and the recent global financial crisis underscore the importance of the discussions of the adequacy of retirement preparation in Canada and the soundness of the Canadian retirement income system. The focus of this study is to examine whether the accumulated private savings of...

Le vieillissement de la population et la recente crise financiere mondiale font ressortir l'importance des discussions concernant le caractere adequat de la preparation a la retraite au Canada et la fiabilite du systeme de revenu de retraite canadien. La presente etude vise a determiner si...

Karst is widely distributed in the southwest of China, especially in Guizhou Province. The phenomenon of desertification in these areas is very serious. And soil erosion is the key link in the process of desertification. Through field monitoring, underground soil leakage is derived to the main...