KDI Journal of Economic Policy最新文献_第6页

Nepotism or Networking?: The Effectiveness of Social Networks in the Labor Market 裙带关系还是关系网?社会网络在劳动力市场中的有效性

KDI Journal of Economic Policy Pub Date : 2012-08-01 DOI: 10.23895/KDIJEP.2012.34.3.133

Y. C. Kim

引用次数: 2

Social Welfare Policy Expansion and Generational Equity: Generational Accounting Approach 社会福利政策扩张与代际公平:代际会计方法

KDI Journal of Economic Policy Pub Date : 2012-08-01 DOI: 10.23895/KDIJEP.2012.34.3.31

C. Jun

引用次数: 1

Stereotypes and Inequality: A 'Signaling' Theory of Identity Choice 刻板印象和不平等:身份选择的“信号”理论

KDI Journal of Economic Policy Pub Date : 2012-06-01 DOI: 10.23895/KDIJEP.2012.34.2.1

Y. C. Kim, G. Loury

{"title":"Stereotypes and Inequality: A 'Signaling' Theory of Identity Choice","authors":"Y. C. Kim, G. Loury","doi":"10.23895/KDIJEP.2012.34.2.1","DOIUrl":"https://doi.org/10.23895/KDIJEP.2012.34.2.1","url":null,"abstract":"We develop an identity choice model within the context of a stereotyping-cumsignaling framework. The model allows us to explore implications of the fact that, when individuals can choose identity, then the distribution of abilities within distinct identity groups becomes endogenous. This is significant because, when identity is exogenous and if the ability distributions within groups are the same, then inequality of group reputations in equilibrium can only arise if there is a positive feedback between group reputation and individual human capital investment activities (Arrow, 1973; Coate and Loury, 1993). Here we show that when group membership is endogenous then the logic of individuals’ identity choices leads there to be a positive selection of higher ability individuals into the group with a better reputation. This happens because those for whom human-capital-investment is less costly are also those who stand to gain more from joining the favored group. As a result, ability distributions within distinct groups can endogenously diverge, reinforcing incentive-feedbacks. We develop the theoretical framework that can examine the positive selection and the endogenous group formation. The model implies that inequality deriving from stereotyping of endogenously constructed social groups is at least as great as the inequality that can emerge between exogenously given groups.","PeriodicalId":32627,"journal":{"name":"KDI Journal of Economic Policy","volume":"34 1","pages":"1-15"},"PeriodicalIF":0.0,"publicationDate":"2012-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68934789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Economic Openness and Labor Allocation between Skilled and Less-skilled Sectors 经济开放与低技能部门劳动力配置

KDI Journal of Economic Policy Pub Date : 2012-03-01 DOI: 10.23895/KDIJEP.2012.34.1.87

김영준

引用次数: 4

A Macroprudential Approach to Financial Supervision and Monetary Policy in Emerging Economies 新兴经济体金融监管和货币政策的宏观审慎方法

KDI Journal of Economic Policy Pub Date : 2012-03-01 DOI: 10.23895/KDIJEP.2012.34.1.1

박영철

引用次数: 1

Estimation of Embodied Technological Progress in Korean Manufacturing 韩国制造业隐含技术进步评价

KDI Journal of Economic Policy Pub Date : 2012-03-01 DOI: 10.23895/KDIJEP.2012.34.1.53

이시욱

引用次数: 0

Margin and Funding Liquidity: An Empirical Analysis on the Covered Interest Parity in Korea 保证金与资金流动性:韩国备息平价的实证分析

KDI Journal of Economic Policy Pub Date : 2012-03-01 DOI: 10.23895/KDIJEP.2012.34.1.29

정대희

引用次数: 0

Borrowing Constraints and the Marginal Propensity to Consume 借贷约束与边际消费倾向

KDI Journal of Economic Policy Pub Date : 2011-12-01 DOI: 10.23895/KDIJEP.2011.33.4.1

Thomas Bishop, Cheolbeom Park

{"title":"Borrowing Constraints and the Marginal Propensity to Consume","authors":"Thomas Bishop, Cheolbeom Park","doi":"10.23895/KDIJEP.2011.33.4.1","DOIUrl":"https://doi.org/10.23895/KDIJEP.2011.33.4.1","url":null,"abstract":"Available evidence suggests that the average marginal propensity to consume (MPC) from the 2001 tax rebate in the US was not nearly as large as that from previous tax cuts. We examine if this phenomenon can be explained by the fact that the widespread use of credit cards has made borrowing accessible for most US households by constructing a model that simulates the dynamic effect of relaxed borrowing constraints. Our model uses Kreps-Porteus preferences which account for independent measures of relative risk aversion and the elasticity of intertemporal substitution, both of which can theoretically affect the willingness to save or spend. Our model shows that the average MPC drops substantially immediately after borrowing constraints are relaxed because few consumers have binding borrowing constraints at that time. The model also shows that consumers gradually reduce their wealth after borrowing constraints are relaxed, causing more of them to have binding constraints over time, which in turn causes the average MPC to rise gradually to a new steady state value that is slightly lower than the original value. This dynamic pattern of the MPC suggests that a greater ability to borrow with credit cards could explain the lower effectiveness of the 2001 tax rebate. In addition, the model predicts that consumers choose to hold lower amounts of liquid assets for precautionary reasons when they have a greater ability to borrow unsecured debt.","PeriodicalId":32627,"journal":{"name":"KDI Journal of Economic Policy","volume":"33 1","pages":"1-25"},"PeriodicalIF":0.0,"publicationDate":"2011-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68934748","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

A Theoretical Study on Storm and Flood Insurance in Korea 韩国暴雨洪水保险的理论研究

KDI Journal of Economic Policy Pub Date : 2011-12-01 DOI: 10.23895/KDIJEP.2011.33.4.119

Kwang-Ho Kim

引用次数: 2

Improving the Ownership Regulation in the Broadcasting Industry 完善广播行业股权监管

KDI Journal of Economic Policy Pub Date : 2011-12-01 DOI: 10.23895/KDIJEP.2011.33.4.85

이수일

引用次数: 0