Topic
Golden Rule (fiscal policy)
About: Golden Rule (fiscal policy) is a research topic. Over the lifetime, 661 publications have been published within this topic receiving 9789 citations.
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TL;DR: Li et al. as mentioned in this paper employed an overlapping-generations (OLG) model with altruistic motive and lifetime uncertainty to investigate the urban public pension system in China and found the optimal firm contribution rate to adjust the capital-labor ratio of the market economy to the modified golden rule level.
Abstract: This paper employs an overlapping-generations (OLG) model with altruistic motive and lifetime uncertainty to investigate the urban public pension system in China. Focusing on the case of Beijing, we examine the effects of the individual contribution rate, firm contribution rate, life expectancy and population growth rate on the capital-labor ratio, savings, per capita consumption and pension benefits. By controlling the firm contribution rate to adjust the capital-labor ratio of the market economy to the modified golden rule level, we find the optimal firm contribution rate. We also discuss the optimal firm contribution rate in Beijing under three cases: risen life expectancy, fallen population growth rate and the joint case of risen life expectancy and fallen population growth rate, and estimate the optimal firm contribution rate in 2020s. Integrating the established effects and the current economic goals, it is concluded that it will do more good than harm to strictly implement Beijing municipal population policy, improve the living and medical conditions, reduce the firm contribution rate, and raise the individual contribution rate.
1 citations
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TL;DR: In this article, it is shown that monopolists who are uncertain of the level of output at which they will maximise profits can use a simple decision rule, based on the "golden section" for choosing an efficient sequence of experiments.
1 citations
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01 Jan 2012TL;DR: In this paper, the authors investigate how individual biases and environmental characteristics affect ethical decision-making among entrepreneurs and propose a conceptual framework to evaluate whether entrepreneurs are more or less ethical than other business agents.
Abstract: Are entrepreneurs more or less ethical than other business agents? How do individual biases and environmental characteristics affect ethical decision-making among entrepreneurs? Our conceptual fram...
1 citations
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TL;DR: In this paper, a simple model (continuous time) and a discrete production model and the Golden Rule are presented. But the model does not consider the optimal stocks of capital.
Abstract: I. Introduction, 117. — II. The simple model (continuous time), 117. — III. The discrete production model and the Golden Rule, 119. — IV. Discounting and the optimal stocks of capital, 121.
1 citations