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November 2025  --  Vol. 26  No. 2

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Heng-Fu Zou
The Republic of Entrepreneurs: Letters, Science, and the Civic Mechanics of Modern Prosperity
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Hao Li, Gaowang Wang, and Jun Yu
Revisiting Optimal Capital Taxation with the Spirit of Capitalism
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Wei Liang and Heng-Fu Zou
The Stability and Instability of Power: A Nonlinear Dynamic Analysis of Power Accumulation and Collapse
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Tianlin Hu, Yang Ming, and Jingming Zhu
When Do Circuit Breakers Stabilize Markets? Evidence and Theory
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Heng-fu Zou
Mean Field Games and Global Arms Races: Strategic Dynamics in a Multipolar World
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Matthew S. Wilson
Disaggregation Reverses the Risk-Free Rate Puzzle
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Qixin Zhan, Junzhu Zhao, and Heng-fu Zou
The Rule-of-Law Capital, Growth, and Development
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Julian A. Parra-Polania and Carmina O. Vargas
Debt Taxes During Crises, a Blessing in Disguise?
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Refk Selmi
Changes in Inflation Expectations and Firm Performance during Recent Global Economic Shocks
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Bo Zhang and Zhixiang Zhang
Efficiency in Overlapping Generations Economies with Natural Resources
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Rongyu Wang
Currency Attacks with Information Correlation
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Heping Xiong, Chao Tang, Jianhui Cao, and Haitao Zhang
A New Four-factor Model for the Chinese Stock Market
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