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Is There a “Middle-income Trap”? Theories, Experiences and Relevance to China
growth slowdown middle-income trap total factor productivity
2013/7/5
Through review of relevant studies and analysis, this article indicates that the “middle-income trap” is in line with the framework of the mainstream economic growth theories, and, therefore, it is a ...
A Formal Economic Theory for Happiness Studies: A Solution to the Happiness-Income Puzzle
Economics of Happiness Happiness-Income Puzzle Reference Group Theory Pareto Optimality
2010/7/2
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...
How are Income and Non-Income Factors Different in Promoting Happiness? An Answer to the Easterlin Paradox
Easterlin Paradox Social Comparison Pareto Optimality
2010/7/2
This paper develops a formal economic theory to explain the Easterlin paradox|average happiness levels do not increase as countries grow wealthier. The theory analyzes the different roles of the incom...