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Has regional disparity been reduced in Korea?:: A sectoral approach 韩国的地区差距缩小了吗?*部门办法
International journal of economic research Pub Date : 2015-01-01 DOI: 10.17256/jer.2015.20.1.003
H. Zang, Jong-soo Lee
{"title":"Has regional disparity been reduced in Korea?:: A sectoral approach","authors":"H. Zang, Jong-soo Lee","doi":"10.17256/jer.2015.20.1.003","DOIUrl":"https://doi.org/10.17256/jer.2015.20.1.003","url":null,"abstract":"Since mid-1980s, notably after the Democratization Movement in 1987, Korea had moved from an unbalanced regional development policy to a more balanced one. As the first study for Korea, this paper examines the contribution of sectors to output disparity for 15 Korea's regions for 1989-2012. The major finding is that, quite contrary to the experiences of the OECD countries presented in Bernard and Jones (1996), the services industry in Korea shows no sign of labor productivity convergence, while the manufacturing in - dustry mostly drives labor productivity divergence, leading to the aggregate non-convergence result for 1989-2012. Thus, contrary to the popular expectation, a rapid decentralization of industries did not contribute to the reduction of output disparity across Korea's regions. The potential impacts of economic liberalization realized after joining the OECD in 1996 and the aftermath of financial cri - sis in late 1997 contributed to increases in the regional disparity in Korea.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"89 1","pages":"39-55"},"PeriodicalIF":0.0,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90531367","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
Estimation of passenger car demand under the censored Tobit model with latent floating thresholds 带有潜浮动阈值的删减Tobit模型下的乘用车需求估计
International journal of economic research Pub Date : 2014-11-01 DOI: 10.17256/JER.2014.19.3.004
M. Sung
{"title":"Estimation of passenger car demand under the censored Tobit model with latent floating thresholds","authors":"M. Sung","doi":"10.17256/JER.2014.19.3.004","DOIUrl":"https://doi.org/10.17256/JER.2014.19.3.004","url":null,"abstract":"This paper analyzes the demand structure of passenger cars by estimating expenditure and opportunity cost equations separately under a censored regression model with latent floating censoring thresholds. An expensive durable good such as a passenger car is consumed at the expense of the foregone consumption of other goods and services or saving. A consumer accepts a price offer of a car when the worth specified by the price stream exceeds the reservation threshold specified by the opportunity cost, and the price is realized as expenditure. The expenditure increases with net wealth and income, while the opportunity cost decreases with income; however it increases with squared income and the number of owned cars. This implies that even a very rich person (household) would not demand an additional car, despite additional income, because the utility is already saturated and there are physical constraints against further consumption. By simulations, the probability of purchasing a car is demonstrated. The analyzing method can be generalized and extended directly to the cases of other expensive durable goods.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"1 1","pages":"283-307"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77014570","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
Endogenous sharing rules in collective rent seeking: A graphic characterization 集体寻租中的内生共享规则:一个图形表征
International journal of economic research Pub Date : 2014-11-01 DOI: 10.17256/JER.2014.19.3.003
이성규, Sanghack Lee
{"title":"Endogenous sharing rules in collective rent seeking: A graphic characterization","authors":"이성규, Sanghack Lee","doi":"10.17256/JER.2014.19.3.003","DOIUrl":"https://doi.org/10.17256/JER.2014.19.3.003","url":null,"abstract":"This note examines collective rent seeking with endogenous choice \u0000of intra-group sharing rules. Building on Davis and Reilly (1999) \u0000and paying full attention to non-negativity constraints, this note \u0000derives the Nash equilibrium in the two-stage collective rent seek \u0000- \u0000ing with endogenous intra-group sharing rules. Graphic methods \u0000are employed in deriving the equilibrium. While Nitzan (1991) and \u0000Davis and Reilly (1999) focus on the case where each group has \u0000more than a single member, the present paper allows for the possi \u0000- \u0000bility that one of the groups consists of a single member. In compe \u0000- \u0000tition between symmetric groups, the endogenous intra-group shar \u0000- \u0000ing rule is to distribute the rent solely based on relative effort. In \u0000competition between two groups asymmetric in size, the smaller \u0000group with at least two members distributes the rent solely based \u0000on relative effort, while the larger group adopts the mixed rule that \u0000distributes part of the rent according to relative effort and the re \u0000- \u0000sidual equally among the group members","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"22 1","pages":"265-281"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87614994","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
Competition and cooperation when the pool of competitors is expanded 竞争与合作，即竞争者扩大
International journal of economic research Pub Date : 2014-11-01 DOI: 10.17256/JER.2014.19.3.002
Sam‐Ho Lee
{"title":"Competition and cooperation when the pool of competitors is expanded","authors":"Sam‐Ho Lee","doi":"10.17256/JER.2014.19.3.002","DOIUrl":"https://doi.org/10.17256/JER.2014.19.3.002","url":null,"abstract":"While a tournament competition can induce the optimal incentive to work, it usually harms cooperation among participants. This paper shows how this adverse effect of a tournament can be reduced without impairing the incentive to work. As the pool of competitors in a tournament expands while the portion of winners is held constant, the negative effect on cooperation diminishes while the incentive to work remains.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"1 1","pages":"249-263"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83765663","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
Trade liberalization and Foreign Direct Investment in Pakistan 巴基斯坦的贸易自由化和外国直接投资
International journal of economic research Pub Date : 2014-11-01 DOI: 10.17256/JER.2014.19.3.001
M. Zakaria, Hasnain Naqvi, B. A. Fida, Syed Hussain
{"title":"Trade liberalization and Foreign Direct Investment in Pakistan","authors":"M. Zakaria, Hasnain Naqvi, B. A. Fida, Syed Hussain","doi":"10.17256/JER.2014.19.3.001","DOIUrl":"https://doi.org/10.17256/JER.2014.19.3.001","url":null,"abstract":"The paper studies the impact of trade liberalization on foreign di \u0000- \u0000rect investment (FDI) in Pakistan using quarterly data from 1972 \u0000to 2010. The findings suggest that there is a significant positive re \u0000- \u0000lation between trade liberalization and FDI. The results are ro \u0000- \u0000bust under alternative trade liberalization measures and differ \u0000- \u0000ent model specifications. The results indicate that the factors that \u0000drive foreign investment have a differential impact on FDI flows \u0000to Pakistan. Specifically, human and physical capitals, capital re \u0000- \u0000turn, infrastructure development, terms of trade and urbanization \u0000promote FDI in Pakistan. Foreign debt and inflation lead to de \u0000- \u0000teriorating foreign investment in the country. Another important \u0000finding is that the effect of trade liberalization on FDI has been \u0000augmented after the inception of a flexible exchange rate system in \u0000Pakistan. However, this result is not robust to alternative equation","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"189 1","pages":"225-247"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85463635","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
Inflation targeting and the uncertainty level in developing countries 通货膨胀目标制与发展中国家的不确定性水平
International journal of economic research Pub Date : 2014-08-01 DOI: 10.17256/JER.2014.19.2.002
Osama D. Sweidan, B. Widner
{"title":"Inflation targeting and the uncertainty level in developing countries","authors":"Osama D. Sweidan, B. Widner","doi":"10.17256/JER.2014.19.2.002","DOIUrl":"https://doi.org/10.17256/JER.2014.19.2.002","url":null,"abstract":"This paper investigates theoretically using an economic model whether inflation targeting policy is an optimun policy or not in developing countries, where central banks have engaged in quasi fiscal activities.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"59 1","pages":"137-170"},"PeriodicalIF":0.0,"publicationDate":"2014-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86044843","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
Monetary policy and central bank independence under endogenous conservatism 内生保守主义下的货币政策与央行独立性
International journal of economic research Pub Date : 2014-08-01 DOI: 10.17256/JER.2014.19.2.001
Michael Berlemann, Andrea Schneider
{"title":"Monetary policy and central bank independence under endogenous conservatism","authors":"Michael Berlemann, Andrea Schneider","doi":"10.17256/JER.2014.19.2.001","DOIUrl":"https://doi.org/10.17256/JER.2014.19.2.001","url":null,"abstract":"In this paper we study the effects of monetary policy under endogenous conservatism. We find a feedback mechanism of macroeconomic outcomes on policy conservatism to destabilize the economy or at least to contribute to considerable adjustment costs. Central bank independence turns out to be a suitable solution to this problem.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"100 1","pages":"125-136"},"PeriodicalIF":0.0,"publicationDate":"2014-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83508528","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
Artificial neural networks and aggregate consumption patterns in New Zealand 人工神经网络与新西兰总消费模式
International journal of economic research Pub Date : 2014-08-01 DOI: 10.17256/JER.2014.19.2.004
D. Farhat
{"title":"Artificial neural networks and aggregate consumption patterns in New Zealand","authors":"D. Farhat","doi":"10.17256/JER.2014.19.2.004","DOIUrl":"https://doi.org/10.17256/JER.2014.19.2.004","url":null,"abstract":"This study engineers a household sector where individuals process macroeconomic information to reproduce consumption spending patterns in New Zealand. To do this, heterogeneous artificial neural networks (ANNs) are trained to forecast changes in per worker consumption. In contrast to existing literature, results suggest that there exists a trained ANN that significantly outperforms a linear econometric model at out-of-sample forecasting. To improve the accuracy of ANNs using only in-sample information, methods for combining private knowledge into social knowledge are explored. For one type of ANN, relying on an expert is beneficial. For most ANN structures, weighting an individual\"s forecast according to how frequently that individual\"s ANN is a top performer during in-sample training produces more accurate social forecasts. By focusing only on recent periods, considering the severity of an individual\"s errors in weighting their forecast is also beneficial. Possible avenues for incorporating ANN structures into artificial social simulation models of consumption are discussed.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"3 1","pages":"197-224"},"PeriodicalIF":0.0,"publicationDate":"2014-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78237149","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: 7
"Overeducation" in the Korean labor market:: Evidence from young workers 韩国劳动力市场的“过度教育”:来自年轻工人的证据
International journal of economic research Pub Date : 2014-05-01 DOI: 10.17256/JER.2014.19.1.002
Su-Jin Cho, Soohyung Lee
{"title":"\"Overeducation\" in the Korean labor market:: Evidence from young workers","authors":"Su-Jin Cho, Soohyung Lee","doi":"10.17256/JER.2014.19.1.002","DOIUrl":"https://doi.org/10.17256/JER.2014.19.1.002","url":null,"abstract":"This paper examines the prevalence of overeducation in Korea and its economic implications. By overeducated workers, we mean those whose educational attainment exceeds the level of education their jobs require. Analyzing a sample of young college-educated workers, we find that approximately a quarter of workers are overeducated and these overeducated workers are paid significantly less and have lower job satisfaction compared to their counterparts who are adequately educated. Furthermore, overeducated workers are less likely to be employed or to work for the same firm in a subsequent period, but more likely to experience faster wage growth than adequately educated workers.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"58 9 1","pages":"19-41"},"PeriodicalIF":0.0,"publicationDate":"2014-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88286402","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: 10
How to exit from zero interest rate when there is a financial accelerator 金融加速器下如何退出零利率
International journal of economic research Pub Date : 2014-05-01 DOI: 10.17256/JER.2014.19.1.005
Donghun Joo
{"title":"How to exit from zero interest rate when there is a financial accelerator","authors":"Donghun Joo","doi":"10.17256/JER.2014.19.1.005","DOIUrl":"https://doi.org/10.17256/JER.2014.19.1.005","url":null,"abstract":"This paper extends a simple new Keynesian DSGE model with a financial accelerator (FA) to study an exit strategy from zero interest rate. The extension of the model is made in two steps to consider the role of uncertainty explicitly: first introducing the FA mechanism that amplifies a shock and then investigating the financial shock uncertainty. The FA mechanism makes monetary policy to be less aggressive under the optimal discretionary policy regime. The introduction of the financial shock uncertainty however overwhelms the FA effect and makes monetary policy to be more aggressive in total. As a whole, the zero interest rate period is prolonged against the negative demand shock and the overshooting of output and inflation gaps are allowed during the phase of recovery. However, when the interest rate exits from the zero interest rate, it should be raised more steeply to a higher level than in the case of Nakov (2008) when the economy recovers.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"7 1","pages":"93-123"},"PeriodicalIF":0.0,"publicationDate":"2014-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86077963","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
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