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Recent research has begun to distinguish two aspects of subjective well-being.Emotionalwell-being refers to theemotionalquality of an individual’s everyday experience—the frequency and intensity of ex...
This paper presents an empirical analysis of the controversial relationship between financial system development and economic development.Using cointegration and VAR estimations on annual data from Af...
This Colloquium reviews statistical models for money, wealth, and income distributions devel- oped in the econophysics literature since the late 1990s. By analogy with the Boltzmann-Gibbs distributi...
The paper proposes a poverty reduction index demonstrating that the selection of growth policies should be to maximize the sum of income and inequality effects. The empirical results indicate that eco...
Since the 1980s, income disparity has increased significantly in the People’s Republic of China, largely as a result of widening urban–rural income gaps. The urban–rural inequality stems from the du...
This paper estimates income inequality in the People’s Republic of China at the national, regional, and provincial levels using extrapolated unit-level household income data covering urban and rural...
The People’s Republic of China (PRC) achieved rapid economic growth during the last 30 years, but its income distribution has worsened. In contrast, Republic of Korea and Taipei,China experienced hi...
We present a stochastic agent-based model for the distribution of personal incomes in a developing economy. We start with the assumption that incomes are determined both by individual labour and by st...
Deaton and Lubotsky (2003) found that the robust positive relationship across American cities between mortality and income inequality became small, insignificant, and/or non-robust once they con...
In this paper we introduce a class of information-based models for the pricing of fixed-income securities. We consider a set of continuous-time processes that describe the flow of information concerni...
A microeconomic model is developed, which accurately predicts the shape of personal income distribution (PID) in the United States and the evolution of the shape over time. The underlying concept is ...
This paper proposes a statistical mechanics approach to the analysis of income distribution and inequality. A new distribution function, having its roots in the framework of -generalized statistics, ...
The great promise of surveys in which people report their own level of life satisfaction is that such surveys might provide a straightforward and easily collected measure of individual or national wel...
This paper develops a formal economic theory that is mainly proposed to explain and study the Easterlin paradox — a puzzle at the heart of our lives: average happiness levels do not increase as countr...

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