财富聚散与可持续发展

社会的可持续发展依赖于财富这种社会能量的合理应用，既需要财富的有效聚合以及进行各种规模化经济活动，又必须保持财富的相对分散均衡以维持社会稳定，因此提倡加强对财富的合理引导、管理，从而更好地发挥财富对社会持续稳定发展的支撑。     

财富密度:财富标志的量化特征研究

为深入财富标志量化问题的研究,提出财富密度概念,作为度量财富的一种新属性。通过财富密度的定量分析可区分一般财富和财富标志,从而使基于财富标志的各种拓展研究具有更坚实的理论基础。基于财富密度概念进一步提出了财富分布空间和财富密度曲线,并从财富密度视角对广义虚拟经济中的财富标志泛化、基于财富标志的货币体系、心理需求r要素逃逸等问题重新解读。     

高质量发展背景下我国财富指数的测度与分析

随着我国经济从高速增长阶段转入高质量发展阶段,如何衡量经济的高质量发展水平,特别是高质量的财富水平,成为急需解决的重大理论和实践问题。本文在国家财富内涵研究基础上,以Dasgupta提出的包容性财富指数为总体框架,从人力财富、物质财富和自然财富等三大维度构建了高质量发展背景下的财富指数。并分别利用J-F终身收入法、永续盘存法和资源预期收益折现法对我国省际层面的人力资本财富、物质资本财富和自然资本财富进行测度和分析。研究发现,1997—2017年我国总财富从171. 67万亿元增长至412. 02万亿元,20年来的财富主要依靠物质资本财富和人力资本财富驱动,其中物质资本财富驱动作用更加明显。从各省(区、市)情况看,财富增长最快的地区均以人力资本财富为主导,而财富增长最慢的地区均以自然资本财富为主导。未来经济发展中应统筹解决好经济运行中的结构性问题和周期性问题,打好物质资本财富积累基础;以"调整存量、做优增量、提质增效"为核心目标,提升自然资源的使用效率;加大人力资本投入,全面推进创新人才培养;适时推动生育政策调整,为人力资本财富的增长提供条件;依据各区域财富结构的具体特征,统筹发达地区和欠发达地区经济发展,推动财富结构的持续优化,为实现经济高质量发展提供基础和保障。     

马克思的财富创造理论及其现实意义

建设中国特色社会主义,需要将注意力更多地放在财富创造的分析层面,寻求建设和谐社会、增进国民财富的各种积极性力量。研究表明,以《资本论》为代表的政治经济学不仅提供了价值创造理论,同时也提供了财富创造理论,包括"财富创造和源泉"的分析、"财富占有"的分析,以及两重关系基础上的"分享剩余"的分析等。这是运用马克思的劳动二重性方法对现代经济对象进行剖析所得出的科学认识结果,因而成为马克思主义政治经济学现代化和中国化的切入点。马克思主义政治经济学只要始终坚持与现实、实践相结合,与时俱进地创新发展,就能够永葆生机。     

生产力论对财富论的超越——李斯特对后发国家的重大理论贡献

在经济活动中,是财富重要还是生产财富的能力更重要,经济思想史并未给出一个清晰而肯定的答案。文章开启尘封已久的李斯特生产力论,指出它对以亚当·斯密为代表的财富论的超越,充分肯定它对后发国家加快发展作出的重大理论贡献。     

住房信贷会削弱“财富效应”吗?——基于CFPS数据对房产财富效应的再检验

住房财富对家庭消费的促进作用在已有研究中得到佐证,在住房市场和住房信贷市场不断发展的背景下,讨论贷款购房带来的还贷经济压力是否抑制了房产"财富效应",在我国特有的消费文化和居住文化中具有重要的意义,对当前我国经济高质量发展阶段刺激国民消费需求具有重要的政策启示。本文基于2014年和2016年两期中国家庭追踪调查(CFPS)数据,使用固定效应模型在引入购房方式相关变量后对房产"财富效应"进行了再检验。实证分析结果显示我国住房"财富效应"广泛存在,是否持有住房、住房套数和住房价值对家庭消费均具有促进作用,但如果脱离购房方式,单一考虑住房"财富效应"不尽准确,在考虑了购房方式和待偿房款额变量后,发现贷款购房方式缓解了家庭预算约束,待偿房款额对住房"财富效应"并无明显的抑制作用,虽然"房奴效应"对于住房"财富效应"具有一定的削弱,但不足以抵消住房价值提高对家庭消费的促进作用。     

《现代财富论》

本刊主编、著名经济学家刘诗白教授新著《现代财富论》深入研究了现代社会财富的性质、结构、源泉和加快财富创造的经济机制和规律．特别是在当代发达市场经济和高科技经济条件下社会财富创造的新情况、新特点及其生产机制，该书一共六章二十八节，其主要内容如下：     

浅谈财富

财富是人类社会生存和发展不可缺少的资源 ,随着财富在经济生活中日益升温的地位和人们对财富予以的特别关注 ,有必要对财富的内涵、特性、源泉、社会意义等做一理性思考。     

财富的源泉与要素的作用

主要研究财富的源泉和劳动在财富生产中的特殊作用；将财富的生产过程分为三类：1、财富生产的自然过程，2、财富生产的人类过程，3、财富生产的社会过程。在财富生产的自然过程中，劳动和非劳动生产要素共同是财富的自然源泉，在财富生产的人类过程及其社会形式－财富生产的社会过程中，劳动是财富的惟一人类源泉。     

论我国市场经济条件下的财富伦理建设

当前我国市场经济条件下财富伦理建设的根本任务是要塑造财富精神,使人们能够根据财富的本质要求去创造则富、驾驭财富和运用财富。塑造财富精神主要从认清财富伦理的本质和意义、加强财富精神教育以及建设良好的市场环境三个方面进行。     

Precautionary Wealth Accumulation

When does an individual's expected wealth accumulation profile increase as earnings risk increases? This paper answers this question for multi-period models where earnings shocks are independent over time. Sufficient conditions are stated in terms of properties of a decision rule for savings and, alternatively, in terms of properties of preferences.     

Beyond Income and Wealth

This paper proposes four criteria for the selection of a better measure of living standards: it should be comprehensive, correlation sensitive, preference based, and fairness based. These criteria are applied to the following measures: income, equivalent income, capabilities, and satisfaction. The paper then explores the relationship between the space of goods and services, the space of budgets, and the more fundamental space of the aspects of life that people really care about. The importance of the fairness principles guiding interpersonal comparisons is highlighted.     

Inequality and Wealth: Comparing the Gender Wealth Gap in Switzerland and Australia

ABSTRACT

Although the gender gap in incomes has been extensively researched, scant attention has been paid to the gender wealth gap. This paper compares the gender wealth gap in Australia with that of Switzerland. Using data from the 2010 Household, Income, and Labour Dynamics in Australia (HILDA) and the 2012 Swiss Household Panel (SHP), this study attributes the gender wealth gap to differences in permanent income and education. Furthermore, the gender wealth gap is much larger in Switzerland than in Australia. The study links this finding to the type of wealth held by individuals in these two countries. Differences in wealth accumulation among women in Switzerland and Australia are likely to be linked to the housing market and to family policies for (single) mothers.     

Wealth and Consumption in Australia

We revisit the evidence on the effect of changes in household wealth on consumption using a panel of Australian states. We find that a one per cent increase in the value of housing wealth increases consumption by about 0.16 per cent in the long-run, with half of the response occurring within two quarters. The size of this response has been stable over time and largely reflects changes in spending on motor vehicles, durable goods and other discretionary items. We then run counterfactual scenarios using the Reserve Bank of Australia's macroeconometric model, MARTIN, to assess the macroeconomic effects of changes in household wealth. We show that increases in household wealth supported household spending between 2013 and 2017, when growth in disposable income was weak.     

Wealth Inequality and Asset Pricing

In an Arrow–Debreu exchange economy with identical agents except for their initial endowment, we examine how wealth inequality affects the equilibrium level of the equity premium and the risk-free rate. We first show that wealth inequality raises the equity premium if and only if the inverse of absolute risk aversion is concave in wealth. We then show that the equilibrium risk-free rate is reduced by wealth inequality if the inverse of the coefficient of absolute prudence is concave. We also prove that the combination of a small uninsurable background risk with wealth inequality biases asset pricing towards a larger equity premium and a smaller risk-free rate.     

Wealth accumulation and economic progress

In an evolutionary dynamic economic theory the accumulation of durable goods (i.e., wealth) is a key feature. Here we show that the wealth of individual economic agents can be measured by the progress function (PF). PF is a function of goods and money under straightforward assumptions, notably the ‘no-loss’ rule for transactions. We derive explicit formulae for wealth from the PF. We also show how the compatibility of the PF and the neoclassical economics deriving the conventional utility functions from the PF.     

论劳动财富观

作者认为劳动与财富是一对曾未被人们摆正的关系。文章指出，劳动财富观是理论创新的成果，应该正确处理劳动关系，树立与市场经济相适应的劳动财富观。     

Intergenerational Wealth Elasticity in Japan

This study estimates the intergenerational wealth elasticity using original Japanese survey data and assesses factors explaining the intergenerational wealth elasticity, such as income, educational level, bequests and preferences. The age‐adjusted elasticity of child wealth with respect to parental wealth ranges from 0.266 to 0.367, and transition matrices indicate that the intergenerational transmission of wealth persists more strongly in the tails of the distributions. The correlation between parent and child wealth mainly stems from income, education and bequests, which jointly constitute 63.9% of the wealth elasticity.