Practices and meanings of non-professional stock-trading in Taiwan : a case of relational work

Accepted for workshop on 21/11/2014PreprintNon peer reviewe

Migration, Social Security, and Economic Growth

This paper studies the effect of population aging on economic performance in an overlapping-generations model with international migration. Fertility is endogenized so that immigrants and natives can have different fertility rates. Fertility is an important determinant to the tax burden of social security since it affects the quantity and quality of future tax payers. We find that introducing immigrants into the economy can reduce the tax burden of social security. If life expectancy (or the replacement ratio) is high enough, the growth rate of GDP per worker for an economy with international migration will be higher than for a closed economy. Regarding migration policies, our numerical results indicate that economic growth rate of GDP per worker will first decrease then increase as the flow of immigrants increases. Increasing the quality of immigrants will enhance economic growth.Economic growth; Fertility; Migration; Social security.

Suppression of long-wavelength CMB spectrum from the no-boundary initial condition

The lack of correlations at the long-wavelength scales of the cosmic microwave background spectrum is a long-standing puzzle and it persists in the latest Planck data. By considering the Hartle-Hawking no-boundary wave function as the initial condition of the inflationary universe, we propose that the power suppression can be the consequence of a massive inflaton, whose initial vacuum is the Euclidean instanton in a compact manifold. We calculate the primordial power spectrum of the perturbations, and find that as long as the scalar field is moderately massive, the power spectrum is suppressed at the long-wavelength scales.Comment: 9 pages, 7 figures; journal versio