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Cross-Border Spillover Effect of Particulate Matter Pollution between China and Korea 中韩颗粒物污染的跨境溢出效应
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2020.36.1.008
Hye-Youn Park, W. Lim, Hyungna Oh
{"title":"Cross-Border Spillover Effect of Particulate Matter Pollution between China and Korea","authors":"Hye-Youn Park, W. Lim, Hyungna Oh","doi":"10.22841/KERDOI.2020.36.1.008","DOIUrl":"https://doi.org/10.22841/KERDOI.2020.36.1.008","url":null,"abstract":"Given its adverse health effects, particulate matter (PM) pollution has become a critical public policy issue in Northeast Asia. As concerns about PM pollution increase, so does the interest in identifying its origins, including trans boundary pollutant sources. Employing the daily average PM10 concentration level data from Beijing, Shanghai, and Seoul in 2014–2016, we estimate the direction and extent of the spillover effect of the PM10 density between China and Korea. Estimation outcomes suggest that the PM10 density levels in Beijing and Shanghai are Granger causes of the PM density in Seoul, but not vice versa.That is, the PM 10 density in Seoul increased by 0.13 and 0.133 ppm in response to the 1ppm increase in the PM10 density in Beijing and Shanghai on the previous day, respectively.The cross-border spillover effect from Beijing decreased by 0.076 ppm from May to October when the air flow hindered the PM10 sources generated in Beijing from reaching Seoul.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126266641","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: 5
Parental Cheating Regarding Child’s Birthday: A Response to the School Cutoff Date 关于孩子生日的父母欺骗:对学校截止日期的回应
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2020.36.1.006
L. Woo, Hyunkuk Cho
{"title":"Parental Cheating Regarding Child’s Birthday: A Response to the School Cutoff Date","authors":"L. Woo, Hyunkuk Cho","doi":"10.22841/KERDOI.2020.36.1.006","DOIUrl":"https://doi.org/10.22841/KERDOI.2020.36.1.006","url":null,"abstract":"This study is the first to provide evidence of birthday manipulation. In South Korea, approximately 13,000 children born in the month of December between 2006 and 2015 were falsely registered as having been home-born in January of the subsequent year. These children differed significantly in terms of certain characteristics from those home-born in other months. Some parents likely manipulated their child’s birthday to leverage the benefits enjoyed by the oldest children in a class cohort.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126747039","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: 0
Impact of Longevity Risks on the Korean Government: Proposing a New Mortality Forecasting Model 长寿风险对韩国政府的影响:提出一个新的死亡率预测模型
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2020.36.1.007
Yongok Choi
{"title":"Impact of Longevity Risks on the Korean Government: Proposing a New Mortality Forecasting Model","authors":"Yongok Choi","doi":"10.22841/KERDOI.2020.36.1.007","DOIUrl":"https://doi.org/10.22841/KERDOI.2020.36.1.007","url":null,"abstract":"Korea’s life expectancy has experienced an unprecedented rapid increase that is significantly higher than that in other advanced economies. However, this phenomenon also signifies that the Korean government faces a considerable financial risk. This study identifies the factors that contribute to the overestimation of mortality and develops a new mortality forecasting model. In addition, the population projections of the new mortality forecasts are used to quantitatively measure the economic size of the longevity risks faced by the Korean government. Results suggest that if substantial longevity exposure is realized in the context of the Korean government, the longevity can solely increase the debt-to-GDP ratio by 33.8%p by 2060. Drawing on these findings, this study concludes with suggestions to mitigate such longevity risks.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"136 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115882470","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: 0
Statistical discrimination, employer learning, and employment gap by race and education 统计歧视，雇主学习，种族和教育的就业差距
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2020.36.1.001
Sei-Chull Kim, H. Lee
{"title":"Statistical discrimination, employer learning, and employment gap by race and education","authors":"Sei-Chull Kim, H. Lee","doi":"10.22841/KERDOI.2020.36.1.001","DOIUrl":"https://doi.org/10.22841/KERDOI.2020.36.1.001","url":null,"abstract":"Tests of statistical discrimination require evaluation records provided by employers or variables that employers do not observe directly but are observed by researchers. As such variables are difficult to obtain, this paper develops a strategy that uses variables available in usual data sets. This paper derives testable implications for statistical discrimination by exploiting the heterogeneity in employer learning processes. Evidence from analysis using the March Current Population Survey for 1971-2016 is consistent with the theoretical predictions. The empirical findings are not explained by alternative hypotheses, such as human capital theory, taste-based discrimination, or search and matching models.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123743114","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: 1
Inflation Risk, Settlement Cycles, and Monetary Policy 通货膨胀风险、结算周期和货币政策
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2018.34.2.007
Choi Sun
{"title":"Inflation Risk, Settlement Cycles, and Monetary Policy","authors":"Choi Sun","doi":"10.22841/KERDOI.2018.34.2.007","DOIUrl":"https://doi.org/10.22841/KERDOI.2018.34.2.007","url":null,"abstract":"A monetary model is constructed to explore the risk-sharing role of multiple installment payments for credit settlement against inflation risk when the choice of cash and credit is endogenous. Economic individuals acquire liquidity for cash consumption and credit settlement. In equilibrium, the choice of a debt rollover may adjust the demand for liquidity in credit settlement to dampen consumption loss. Welfare benefits result from inflation. The optimal money growth is positive with a zero nominal interest rate and a one-period settlement cycle.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127397917","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: 0
Export Subsidies and Least Developed Countries: An Entry-Deterrence Model under Complete and Incomplete Information 出口补贴与最不发达国家:完全信息与不完全信息下的入口威慑模型
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2019.35.1.006
Kyoungwon Rhee, Moonsung Kang
{"title":"Export Subsidies and Least Developed Countries: An Entry-Deterrence Model under Complete and Incomplete Information","authors":"Kyoungwon Rhee, Moonsung Kang","doi":"10.22841/KERDOI.2019.35.1.006","DOIUrl":"https://doi.org/10.22841/KERDOI.2019.35.1.006","url":null,"abstract":"To explore the export subsidy policies in technologically inferior countries, we consider an entry-deterrence model in which firms compete a la Bertrand if entry occurs. Under complete information, only a subsidy policy can deter entry. We also check whether a “no subsidy” policy can deter entry under incomplete information, in which the existence of an export subsidy policy is assumed to be unknown to the foreign firm. In the separating equilibria, it is optimal for the government not to provide export subsidies because they are financially burdensome given the technological inferiority of the domestic firm being subsidized. However, in the pooling equilibria, under certain conditions, even the firm that does not benefit from a subsidy policy can deter the entry of a more technologically advanced firm, thereby granting an incentive for the government to employ a policy of strategic ambiguity in order to prevent the disclosure of information about its export subsidies.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121341271","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: 0
Cheap Talk by Two Senders in the Presence of Network Externalities 网络外部性下的两方廉价谈话
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2019.35.1.009
Jeahan Jung, Jeong‐Yoo Kim
{"title":"Cheap Talk by Two Senders in the Presence of Network Externalities","authors":"Jeahan Jung, Jeong‐Yoo Kim","doi":"10.22841/KERDOI.2019.35.1.009","DOIUrl":"https://doi.org/10.22841/KERDOI.2019.35.1.009","url":null,"abstract":"We develop a model of cheap talk with two senders in the presence of network externalities, such that their utility functions are increasing in the network size. We first show that, if there is no noise in the private information received by each sender, the full information is revealed by the harshest cross-checking strategies, that is, strategies to punish the senders unless their messages exactly coincide. Then, we prove that, even with a small noise, cross-checking strategies cannot induce full revelation if the utility functions of senders are linear in the network size, whereas full revelation is possible if utility functions are strictly concave. Finally, we show that a CARA (constant absolute risk aversion) utility function of senders is the necessary and sufficient condition for the existence of a fully revealing equilibrium, which is supported by the cross-checking strategy with a positive confidence interval independent of each sender’s private information.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"21 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114129596","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: 0
Accounting for Changes in House Prices and Rent in Korea, 2001–2016 2001-2016年韩国房价和租金变化的核算
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2020.36.1.009
Hong， Jayhwa, Choonsung Park, J. Song
{"title":"Accounting for Changes in House Prices and Rent in Korea, 2001–2016","authors":"Hong， Jayhwa, Choonsung Park, J. Song","doi":"10.22841/KERDOI.2020.36.1.009","DOIUrl":"https://doi.org/10.22841/KERDOI.2020.36.1.009","url":null,"abstract":"We quantitatively evaluate the relative contribution of macroeconomic fundamentals and housing-related policies to the changes in real house prices, rent, and household welfare in Korea. We show that the observed changes in real house prices and rent in 2001-2016 are mainly attributed to a decrease in the real interest rate, an increase in real income, and an increase in the aggregate housing supply. However, housing-related policies turn out to have little impact on the price changes, contrary to the common belief that such policies significantly affected the housing market over this period. We also find that the welfare implications of fundamentals and housing-related policies vary by household income.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124604693","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: 0
Impacts of Liquidity Preference on Loan-to-Deposit Ratio and Regional Economic Growth: A Post-Keynesian View 流动性偏好对存贷比和区域经济增长的影响:一个后凯恩斯主义的观点
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2021.37.1.002
W. Park, Byoung-kil Min
{"title":"Impacts of Liquidity Preference on Loan-to-Deposit Ratio and Regional Economic Growth: A Post-Keynesian View","authors":"W. Park, Byoung-kil Min","doi":"10.22841/KERDOI.2021.37.1.002","DOIUrl":"https://doi.org/10.22841/KERDOI.2021.37.1.002","url":null,"abstract":"In this study, we analyze the loan-to-deposit ratios (LDRs) and regional economic growth from the perspectives of Post-Keynesian endogenous money theory and liquidity preference theory. We also discover policy implications from the simulation results of a stock-flow consistent model. Contrary to the interpretation of exogenous money theory, we find that a low LDR in a region implies a high level of economic activity. Furthermore, regional economic gaps may emerge through the differences in the liquidity preferences of regions, that is, the liquidity preference differences among regions may lead to differences in various economic behavior, such as willingness to lend, investment propensity, and consumption propensity, which may exacerbate the regional economic gap. Therefore, regional finance should be examined from the perspectives of endogenous money theory and Keynesian theory of liquidity preference.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129695127","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: 3
Impact of the Simultaneous Use of the Stigmatization and Categorical School Funding Policy on the Test and Post-Secondary Outcomes of Lower-Achieving Students 同时使用污名化和分类学校资助政策对成绩较差学生的考试和中学后成绩的影响
The Korean Economic Review Pub Date : 1900-01-01 DOI: 10.22841/KERDOI.2020.36.2.002
SeungHoon Han, Hosung Sohn
{"title":"Impact of the Simultaneous Use of the Stigmatization and Categorical School Funding Policy on the Test and Post-Secondary Outcomes of Lower-Achieving Students","authors":"SeungHoon Han, Hosung Sohn","doi":"10.22841/KERDOI.2020.36.2.002","DOIUrl":"https://doi.org/10.22841/KERDOI.2020.36.2.002","url":null,"abstract":"This study analyzes the impact of one type of school-based accountability system―the simultaneous use of stigmatization and categorical school funding―on test scores and postsecondary outcomes. We conduct randomization inference in the context of regression discontinuity design by exploiting the discontinuous rule used in the accountability system in South Korea. The results show that the joint use of stigmatization and funding leads to a statistically and practically significant increase in test scores (7, 6, and 5 percentile points for reading, math, and English, respectively). Subgroup analyses by urban or rural areas show that the policy leads to a practically but not statistically significant increase in the share of students taking college entrance exams (4 percentage points) and a practically and statistically significant increase in the share of students matriculating into four-year colleges (9 percentage points) only for schools located in rural areas. We do not find any practically and statistically significant increase in the post-secondary outcomes for schools located in urban areas.","PeriodicalId":426169,"journal":{"name":"The Korean Economic Review","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130793619","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: 0
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