This paper seeks to examine the effects of the ageing population in Illinois with inclusion of the household’s ex-ante intra-generational heterogeneity across race and migration status. For this, this paper empirically shows that there are significant gaps in returns to education between race and migration status in Illinois; and there exists significant relationships between a resident’s demog...

China’s decade-long housing boom looks nothing short of a gigantic bubble familiar to many countries: In big cities the price-to-income ratio reached 30 to 1 and the vacancy rate stood at 30% or above. This paper provides a theoretical framework to shed light on the causes and consequences of the great housing boom in China. We argue that the boom could be a rational bubble rooted in China’s un...

In this study, we sought to identify empirically the types of use and non-use values that motivate dairy farmers in their work relating to animal welfare of dairy cows. We also sought to identify how they prioritize between these use and non-use values. Use values are derived from productivity considerations; non-use values are derived from the wellbeing of the animals, independent of the prese...

Studies examining the relationship between globalisation and the welfare state tend to focus on the effects of economic dimensions of globalisation, the extent to which a country is part of the world market. Globalisation also has a social and political dimension and their effects on welfare states – in terms of social security transfers and generosity – are studied in this article. Data from t...

BACKGROUND Countries with limited resources in economic downturns often reduce government expenditures, of which spending on preventive healthcare with no apparent immediate health impact might be cut down first. This research aims to find the optimum share of preventive health expenditure to gross domestic product (GDP) and investigate the implications of preventive health services on economic...