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You searched for +publisher:"University of Hong Kong" +contributor:("Lau, SH"). Showing records 1 – 2 of 2 total matches.

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University of Hong Kong

1. Cai, Zhipeng. Essays on demographic changes and lifecycle behavior.

Degree: PhD, 2017, University of Hong Kong

This three-part thesis investigates demographic changes, lifecycle behavior and two macroeconomic variables, asset returns and wealth level. The first chapter studies how schooling and retirement choices affect the equilibrium asset return on the balanced growth path. Chapters two and three analyze how increasing wealth and mortality decline shape individual schooling and retirement decisions when human capital carries non-pecuniary benefit. Academia and practitioners have extensively studied the relation between population structure and asset returns. In most existing studies, the population structure refers to the relative population of certain age groups. I make two major contributions by analyzing the balanced-growth path of a continuous-time overlapping generations model. First, two important lifecycle choices - schooling and retirement - have non-negligible effects on the equilibrium return. Second, while the literature usually takes population structure as given, the driver of population structure changes can either be fertility variation or mortality transition. I show that mortality reduction after retirement age lowers equilibrium return, or raises asset price, which implies that a higher concentration of retirees (asset sellers) does not necessarily lead to lower asset prices. In the past century, there have been significant increases in longevity and average years of schooling across most countries. Meanwhile, the average retirement age and expected lifetime labor supply have been falling. Standard models of human capital accumulation are incompatible with the evidence. Chapters 2 and 3 try to alleviate the incompatibility by utilizing the non-pecuniary benefits of education and the significant increase in the wealth level. The presence of the non- pecuniary benefit of schooling enables the wealth effect to reduce retirement age but increase schooling, as people substitute pecuniary benefits of education for non-pecuniary benefits.

published_or_final_version

Economics and Finance

Doctoral

Doctor of Philosophy

Advisors/Committee Members: Lau, SH.

Subjects/Keywords: Wealth; Demographic transition; Rate of return; Retirement; Education

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Cai, Z. (2017). Essays on demographic changes and lifecycle behavior. (Doctoral Dissertation). University of Hong Kong. Retrieved from http://hdl.handle.net/10722/249213

Chicago Manual of Style (16th Edition):

Cai, Zhipeng. “Essays on demographic changes and lifecycle behavior.” 2017. Doctoral Dissertation, University of Hong Kong. Accessed February 16, 2019. http://hdl.handle.net/10722/249213.

MLA Handbook (7th Edition):

Cai, Zhipeng. “Essays on demographic changes and lifecycle behavior.” 2017. Web. 16 Feb 2019.

Vancouver:

Cai Z. Essays on demographic changes and lifecycle behavior. [Internet] [Doctoral dissertation]. University of Hong Kong; 2017. [cited 2019 Feb 16]. Available from: http://hdl.handle.net/10722/249213.

Council of Science Editors:

Cai Z. Essays on demographic changes and lifecycle behavior. [Doctoral Dissertation]. University of Hong Kong; 2017. Available from: http://hdl.handle.net/10722/249213


University of Hong Kong

2. Ng, Hoi-tak, Philip. Three essays on population, income, and distribution.

Degree: PhD, 2006, University of Hong Kong

published_or_final_version

abstract

Economics and Finance

Doctoral

Doctor of Philosophy

Advisors/Committee Members: Lau, SH.

Subjects/Keywords: Income.; Income distribution.; Population.

Record DetailsSimilar RecordsGoogle PlusoneFacebookTwitterCiteULikeMendeleyreddit

APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Ng, Hoi-tak, P. (2006). Three essays on population, income, and distribution. (Doctoral Dissertation). University of Hong Kong. Retrieved from Ng, H. P. [吳凱特]. (2006). Three essays on population, income, and distribution. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. Retrieved from http://dx.doi.org/10.5353/th_b3684990 ; http://dx.doi.org/10.5353/th_b3684990 ; http://hdl.handle.net/10722/51052

Chicago Manual of Style (16th Edition):

Ng, Hoi-tak, Philip. “Three essays on population, income, and distribution.” 2006. Doctoral Dissertation, University of Hong Kong. Accessed February 16, 2019. Ng, H. P. [吳凱特]. (2006). Three essays on population, income, and distribution. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. Retrieved from http://dx.doi.org/10.5353/th_b3684990 ; http://dx.doi.org/10.5353/th_b3684990 ; http://hdl.handle.net/10722/51052.

MLA Handbook (7th Edition):

Ng, Hoi-tak, Philip. “Three essays on population, income, and distribution.” 2006. Web. 16 Feb 2019.

Vancouver:

Ng, Hoi-tak P. Three essays on population, income, and distribution. [Internet] [Doctoral dissertation]. University of Hong Kong; 2006. [cited 2019 Feb 16]. Available from: Ng, H. P. [吳凱特]. (2006). Three essays on population, income, and distribution. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. Retrieved from http://dx.doi.org/10.5353/th_b3684990 ; http://dx.doi.org/10.5353/th_b3684990 ; http://hdl.handle.net/10722/51052.

Council of Science Editors:

Ng, Hoi-tak P. Three essays on population, income, and distribution. [Doctoral Dissertation]. University of Hong Kong; 2006. Available from: Ng, H. P. [吳凱特]. (2006). Three essays on population, income, and distribution. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. Retrieved from http://dx.doi.org/10.5353/th_b3684990 ; http://dx.doi.org/10.5353/th_b3684990 ; http://hdl.handle.net/10722/51052

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