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Yung-Ping Chen
Yung-Ping Chen (November 24, 1930 – May 10, 2022) was an American economist and gerontologist of Chinese origin. He pioneered the concept of home equity conversion (reverse mortgages) in the United States and developed innovative approaches to the funding of Social Security benefits and long-term care. His scholarship contributed to a better understanding of the economic, political, and social implications and challenges created by the "mass aging" phenomenon—the ongoing and unprecedented shift to an increasingly elder-populated society. Biography Born in Jingjiang, Jiangsu Province, China, Chen went to the United States for graduate school in 1955 and remained there to teach economics and gerontology for 50 years. He retired in 2009. He was married and had three children and six grandchildren. A graduate of National Taiwan University in Taipei, he received his M.A. and Ph.D. in Economics at the University of Washington, Seattle. He was professor emeritus of gerontology ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jingjiang
Jingjiang () is a county-level city under the administration of Taizhou, Jiangsu province, China. It is located on the northern (left) bank of the Yangtze River, and is the southernmost part of Taizhou City, bordering Nantong to the northeast, Suzhou to the southeast, Wuxi to the south, Changzhou to the southwest, and Zhenjiang to the west. The area of Jingjiang is 655.6 square kilometres and the population was 684,360 at the 2010 census. History The terrain of Jingjiang nowadays was originated as a shoal in the Yangtze River, which was known Matuosha in the ancient China. As the shoal had been extended, it was separated from then Jiangyin county to found a new county in 1471. As being looted by the Wokou for several time, it is designated Jiangjiang (means "pacifying the Yangzte River"). The county under the administration of the prefecture-level city of Yangzhou originally, was converted to a county-level city in 1993, then was transferred to the Taizhou in 1996. Geography Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taipei
Taipei (), officially Taipei City, is the capital and a special municipality of the Republic of China (Taiwan). Located in Northern Taiwan, Taipei City is an enclave of the municipality of New Taipei City that sits about southwest of the northern port city of Keelung. Most of the city rests on the Taipei Basin, an ancient lakebed. The basin is bounded by the relatively narrow valleys of the Keelung and Xindian rivers, which join to form the Tamsui River along the city's western border. The city of Taipei is home to an estimated population of 2,646,204 (2019), forming the core part of the Taipei–Keelung metropolitan area, which includes the nearby cities of New Taipei and Keelung with a population of 7,047,559, the 40th most-populous urban area in the world—roughly one-third of Taiwanese citizens live in the metro district. The name "Taipei" can refer either to the whole metropolitan area or just the city itself. Taipei has been the seat of the ROC central government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Assistance
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. most pension systems), as opposed to ''social assistance'' programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury. More broadly, welfare may also encompass efforts to provide a basic level of well-being through free or subsidized ''social services'' such as healthcare, education, infrastructure, vocational training, and pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Equity
Home equity is the market value of a homeowner's unencumbered interest in their real property, that is, the difference between the home's fair market value and the outstanding balance of all liens on the property. The property's equity increases as the debtor makes payments against the mortgage balance, or as the property value appreciates. In economics, ''home equity'' is sometimes called real property value. Home equity is not liquid. ''Home equity management'' refers to the process of using equity extraction via loans, at favorable, and often tax-favored, interest rates, to invest otherwise illiquid equity in a target that offers higher returns. Homeowners acquire equity in their home from two sources. They purchase equity with their down payment and the principal portion of any payments they make against their mortgage. They also benefit from a gain in equity when the value of the property increases. Investors typically look to purchase properties that will grow in value ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wealth Distribution
The distribution of wealth is a comparison of the wealth of various members or groups in a society. It shows one aspect of economic inequality or heterogeneity in economics, economic heterogeneity. The distribution of wealth differs from the income distribution in that it looks at the Distribution (economics), economic distribution of ownership of the assets in a society, rather than the current income of members of that society. According to the International Association for Research in Income and Wealth, "the world distribution of wealth is much more unequal than that of income." For rankings regarding wealth, see list of countries by wealth equality or list of countries by wealth per adult. Definition of wealth Wealth of an individual is defined as net worth, expressed as: wealth = assets − liability (financial accounting), liabilities A broader definition of wealth, which is rarely used in the measurement of wealth inequality, also includes human capital. For example ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Distribution
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the distribution of income between the primary factors of production (land, labour and capital). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and economic growth, and their often inverse relationship. The Lorenz curve can represent the distribution of income within a society. The Lore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Insurance
Social insurance is a form of Social protection, social welfare that provides insurance against economic risks. The insurance may be provided publicly or through the subsidizing of private insurance. In contrast to other forms of Welfare, social assistance, individuals' claims are partly dependent on their contributions, which can be considered insurance premiums to create a common fund out of which the individuals are then paid benefits in the future. Types of social insurance include: * Universal health care, Public health insurance * Social Security (United States), Social Security * Unemployment Insurance, Public Unemployment Insurance * Public auto insurance * Parental leave, Universal parental leave Features * The contributions of individuals is nominal and never goes beyond what they can afford * the Social welfare, benefits, eligibility requirements and other aspects of the program are defined by statute; * explicit provision is made to account for the income and exp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk-pooling
A “Risk pool” is a form of risk management that is mostly practiced by insurance companies, which come together to form a pool to provide protection to insurance companies against catastrophic risks such as floods or earthquakes. The term is also used to describe the pooling of similar risks within the concept of insurance. It is basically like multiple insurance companies coming together to form one. While risk pooling is necessary for insurance to work, not all risks can be effectively pooled in a voluntary insurance bracket unless there is a subsidy available to encourage participation. Risk pooling is an important concept in supply chain management. Risk pooling suggests that demand variability is reduced if one aggregates demand across locations because as demand is aggregated across different locations, it becomes more likely that high demand from one customer will be offset by low demand from another. The reduction in variability allows a decrease in safety stock and th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Sector
The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money. A 2013 study by the International Finance Corporation (part of the World Bank Group) identified that 90 percent of jobs in developing countries are in the private sector. Diversification In free enterprise countries, such as the United States, the private sector is wider, and the state places fewer constraints on firms. In countries with more government authority, such as China, the public sector makes up most of the economy. Regulation States legally regulate the private sector. Businesses operating within a country must comply with the laws in that country. In some cases, usually involving multinatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, infrastructure, public transit, public education, along with health care and those working for the government itself, such as elected officials. The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service. Public enterprises, or state-owned enterprises, are self-financing commercial enterprises that are under public ownership which provide various private goods and services for sale and usually operate on a commercial basis. Organizations that are not part of the public sector are either part of the private sector or voluntary sector. The private sector is composed of the economic sectors that are intende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White House Conference On Aging
The White House Conference on Aging (WHCoA) is a once-a-decade conference sponsored by the Executive Office of the President of the United States which makes policy recommendations to the president and Congress regarding the aged. The first of its kind, the goals of the conference are to promote the dignity, health and economic security of older Americans. It has been claimed that it is perhaps the best-known White House conference. The conference is held once a decade, with the most recent conference held in 2015, in preparation for the retirement of the baby boomer generation. History Early conferences and councils In 1950, President Harry S Truman ordered the Federal Security Agency to hold a national conference on aging. The purpose was to assess the policy challenges posed by a changing populace, particularly in light of numerous changes in federal entitlement programs (such as Social Security) that had been enacted during the previous 20 years. Social Security's goal was t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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