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This paper aims to understand the impact of land acquisition and the provision of rehabilitation and remuneration (R & R) transfers included in it, toward the short-run and the long-run growth of an economy as well as on the welfare of farmers and industrialists over time.

The authors develop a two-sector model of growth with agriculture and manufacturing in which land is an essential input to production in both sectors. Industrialists buy land from farmers and deals include R & R payments. Individuals live for one period and at its end, bequeath land and capital assets to their child. There is Hicks-neutral technical progress in each sector.

The R & R policy has no effect on the long-run sectoral growth or land allocation. While such a policy benefits the farmers initially, after a certain period, it reduces their welfare. The R & R scheme makes the industrialist worse-off in all periods. It was found that besides the standard convergence effect, land acquisition by the industrial sector increases the growth rate of capital. This may lead to non-monotonic growth rate of capital.

The two-sector model abstracts from labor and labor markets. Hence, sectoral employment mobility or changes in the skill-wage premium over time are not captured.

First, this paper developed a two-sector growth model with land as a factor of production and an asset. Second, it examined growth and distributive impacts of the R & R package embodied in land transactions.

Analyses the effect of a minimum wage on unemployment. Using a model with covered and non‐covered sectors, comparative static analysis is performed with respect to the elasticity of demand for labour in the covered sector, the elasticity of the wage in the non‐covered sector with respect to the size of the non‐covered sector labour force, and the size of the minimum wage. It turns out, contrary to the existing literature, that for none of these parameters is the comparative static effect unidirectional.

An increase in life expectancy brings about an aging society, necessitating increasing demand for elderly care services. The purpose of this paper is to present an examination of: how an aging society affects the demand for elderly care services and the labor market for elderly care services; how the labor share and wage inequality between the final goods sector and elderly care sector are determined; and whether the subsidy for elderly care service increases demand for elderly care services or not.

This paper sets the dynamics general equilibrium model with two sectors model: one for final goods sector and the other for elderly care services. This paper derives how the labor supply for elderly care services is determined in the theoretical model. In addition to analytical research works, this paper examines how the subsidy for elderly care service affects the labor share allocated for elderly care sector and wage inequality between the final goods sector and the elderly care sector with the numerical examples.

Related reports of the literature describe that an aging society raises the share of labor dedicated to elderly care services. However, considering a closed economy in which saving affects the capital stock, an aging society does not always raise the share of labor used for elderly care services because the wage rate of the final goods sector increases with an aging society. This effect prevents the increase of the labor supplied to elderly care services. On the other hand, the subsidy for the elderly care service raises the labor share of elderly care sector.

The related literatures derive that an aging society raises the labor share allocated for elderly care sector. However, the paper shows that the subsidy for elderly care plays an important role in the increase in the labor share of elderly care sector.

This paper examines how the aging society affects the labor share of elderly care sector, wage inequality between final goods sector and elderly care sector and others with numerical examples. Thanks to the numerical examples, this paper derives the quantitative result and shows how the subsidy for elderly care service should be provided.

The author thinks that this paper has rich implications and originality. There exists no literature that examines how the labor share of elderly care sector and the relative wage rate of elderly care sector are determined by the aging and the subsidy for elderly care service. The author thinks that it is a very important analysis because many economically developed countries face the aging society problem.

Numerous studies have concluded that immigration has very small effects on wages or unemployment, even when the immigration flow is very large. Three reasons suggested for this are that immigration: (1) is not supply-push, but may instead be driven by demand-pull factors; (2) is likely to cause some out-migration; and (3) may induce flows of other factors across the economy. Surprisingly, few studies consider another obvious explanation: immigrant workers also consume locally, which means immigration stimulates the local demand for labor. Previous researchers have generally ignored the measurement of immigration's effects on labor demand, perhaps because when immigration, out-migration, and immigrant consumption occur simultaneously in the same labor market, it is very difficult to isolate immigration's effect on labor demand. This paper measures the labor demand-augmenting effects of immigration using a two-sector model of a very special case in which the receiving economy consists of: (a) an export industry employing both immigrants and natives; and (b) a retail industry employing native labor that is driven by local demand. The model can incorporate both supply-push and demand-pull immigration as well as out-migration. The model's important implication is that since immigration is exogenous to the retail sector, an unbiased estimate of the demand effect of immigration can be obtained without having to use instrumental variables estimation or other statistical procedures that may introduce new sources of bias. Fortunately, the economy in our model matches a very convenient test case: Dawson County, Nebraska. Dawson County recently experienced a surge in demand-pull immigration due to the location of a large export-driven meatpacking plant. This exogenous capital shock pulled in many Hispanic immigrant workers, who did not immediately seek work in the retail sector because of social and language barriers. This immigration led to higher retail wages and housing prices, confirming that immigration is capable of exerting significant effects on local labor demand.

The purpose of this paper is to review studies focusing on the magnitude of money laundering and their effects on a country’s economy. The relevant concepts are identified on the basis of discussions in the literature by prominent scholars and policy makers. There are three main objectives in this review: first, to discuss the effects of money laundering on a country’s macro-economy; second, to seek measurements from other scholars; and finally, to seek previous findings about the magnitude and the flows of money laundering.

In the first part, this paper outlines the effects of money laundering on macroeconomic conditions of a country, and then the second part reviews the literature that measures the magnitude of money laundering from an economic perspective.

Money laundering affects a country’s economy by increasing shadow economy and criminal activities, illicit flows and impeding tax collection. To minimise these negative effects, it is necessary to quantify the magnitude of money laundering relative to economic conditions to identify the most vulnerable aspects of money laundering in a country. Two approaches are used in this study: the first is the capital flight approach, as money laundering will cause flows of money between countries; the second is the economic approach for measuring money laundering through economic variables (e.g. tax revenue, underground economy and income generated by criminals) separately from tax evasion.

The paper offers new insights for the measurement of money laundering, especially for developing countries. Most methods in quantifying money laundering have focused on developed countries, which are less applicable to developing countries.

The paper sets out a conceptualisation of the housing cycle centring on households' desire to upgrade their housing consumption.

The paper begins by studying house price trends and cycles in OECD countries since 2000 to identify housing cycle patterns. It then assesses existing theories partly in relation to these patterns. It then proposes a new conceptualisation of the housing cycle.

The paper finds the central role of supply lags in housing cycles is not warranted. Instead, a demand cycle generated by upgrading desires better explains an initial boom followed by a slow recovery.

The paper challenges existing orthodoxy on housing cycle dynamics and proposes an alternative perspective.

This study offers a political risk prediction model that replicates a known political risk index on the basis of economic and political variables. The results show that the political risk is affected by the level of the United Nations human development index, the gross domestic savings as a percentage of gross domestic product, the labor force as a percentage of total population, the total expenditures on health and education as a percentage of gross domestic product and the level of the terms of trade.