CLAIM: After the Second Coming, Jesus shepherds and gathers ethnic Jews from the nations back to the promised land, and then prospers them (Deut. 30:1-10; Ezek. 34:11-31). The blessings described recall the Garden of Eden (Isa. 11:6-9).
Verse 23’s David is clearly a reference to Christ. He is the Good Shepherd. He is the one shepherd placed over Israel (see the discussion on the “One New Man” perspective, located here).
The last few verses seem to indicate the same covenant of peace mentioned in Ezekiel 37:26, and so would indicate a future fulfillment. However, this is a future indication, and most of the chapter appears to have happened at the first coming of Christ.