간행물

한국경제학회> The Korean Economic Review

The Korean Economic Review update

  • : 한국경제학회
  • : 사회과학분야  >  경제학
  • : KCI등재
  • : SSCI,SCOPUS
  • : 연속간행물
  • : 반년간
  • : 0254-3737
  • :
  • :

수록정보
수록범위 : 1권0호(1985)~36권2호(2020) |수록논문 수 : 630
The Korean Economic Review
36권2호(2020년 07월) 수록논문
최근 권호 논문
| | | |

KCI등재 SSCI SCOPUS

1Hollowing Out or Filling In? The Effects of Multinational Enterprises on Domestic Plant Turnover and Job Growth in Factory Asia

저자 : Hyunbae Chun , Jung Hur , Nyeong Seon Son

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 285-317 (33 pages)

다운로드

(기관인증 필요)

초록보기

In recent years, multinational enterprises (MNEs) originating from Asian countries, such as China and Korea, have rapidly expanded their global operations. However, the employment effects of these MNEs on their home countries have rarely been studied. By using Korean firm-plant matched data over the period of 2008-2013, we examine the effects of MNEs on domestic plant turnover and job growth. We find that Korean MNEs are more likely to close down their domestic manufacturing plants and open new plants than non-MNEs. Along with active plant turnover, Korean MNEs exhibit great active job reallocation across their domestic manufacturing plants within firms, without resulting in net job loss. In sum, Korean MNEs participating in Factory Asia have restructured their domestic manufacturing bases rather than hollowing them out.

KCI등재 SSCI SCOPUS

2Impact of the Simultaneous Use of the Stigmatization and Categorical School Funding Policy on the Test and Post-Secondary Outcomes of Lower-Achieving Students

저자 : Seunghoon Han , Hosung Sohn

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 319-352 (34 pages)

다운로드

(기관인증 필요)

초록보기

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.

KCI등재 SSCI SCOPUS

3The Monetary Policy Reaction Function in Korea with Multi-level Factors

저자 : Byoungsoo Cho

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 353-376 (24 pages)

다운로드

(기관인증 필요)

초록보기

The monetary policy reaction function in Korea is estimated. In particular, a variant of the Taylor rule is analyzed using information from a panel of macroeconomic variables in the United States (US) and Korea. The main findings are as follows. First, two global factors common to both countries are significant in the monetary policy reaction function, while no country-specific factors are significant. Second, the information contained in these factors is similar to variables, such as the credit spread in the US, the KRW/USD exchange rate, non-farm employment, and business survey indices for new contracts and sales in Korea. As such, these variables are also significant when added to the monetary policy reaction function. Third, the policy response to the inflation rate becomes significantly positive only when these additional variables are added, which is consistent with the legal purpose of monetary policy under the inflation targeting regime in Korea.

KCI등재 SSCI SCOPUS

4Limited Impact of Business Development Programs on Entrepreneurs' Profitability in the Presence of Ambiguity Aversion

저자 : Dmitry Shapiro

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 377-413 (37 pages)

다운로드

(기관인증 필요)

초록보기

This paper develops a theoretical framework to explain the limited effect of business development programs (BDPs) on entrepreneurs' profits. We argue that a mismatch between a BDP's narrow focus on business-promoting strategies and the wider context in which microentrepreneurs operate can limit the impact of business training. In our framework, entrepreneurs are ambiguity-averse and have multiple sources of income (e.g., business and wage incomes.) We show that for a sufficiently ambiguity-averse entrepreneur with multiple income sources, efficient training can result in a decline in expected profit. Notably, when the wider context (multiple income sources, ambiguity-aversion) is considered, the businesstraining impact is limited and can result in a post-training expected profit decline. This limited impact is caused by the diversifying role that the business income plays in household finances.

KCI등재 SSCI SCOPUS

5Employer Size and Wage Inequality: Rent-Sharing Role of Performance Pay

저자 : Sang-yoon Song

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 415-444 (30 pages)

다운로드

(기관인증 필요)

초록보기

This study analyzes employer contributions to size-wage effects via heterogeneous rentsharing behaviors and compensation for capital dependency. Mainly attributed to differences in performance pay between small and large employers, the increasing size-wage effect has substantially contributed to a growing wage inequality since 1994, even after factoring in observed and unobserved worker characteristics. Analysis of the sources of increasing size- wage effects in terms of firm-side factors reveal that more active rent-sharing behaviors and compensation for capital dependency of large employers that use performance pay translate into the increasing size-wage effect. These results show that, unlike in the United States, the labor market in Korea associates performance pay more with employer characteristics than with worker characteristics.

KCI등재 SSCI SCOPUS

6Policy Implications of Investment Rate Distributions in the Korean Manufacturing Sector

저자 : Jinhee Woo

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 445-480 (36 pages)

다운로드

(기관인증 필요)

초록보기

A cross-sectional distribution of the investment rates of manufacturing establishments in Korea, based on the Mining and Manufacturing Surveys of 2011 through 2014, reveals a fat right tail and an asymmetry between positive and negative investment rates, reflecting the fixed cost of capital adjustment and the partial irreversibility of investment. This finding reveals that the aggregate responsiveness to the investment support policy will be greater during a boom than during a recession. A heterogeneous plant model designed to explain the cross-sectional distribution of investment rates observed in the data demonstrates that the response of aggregated investment to investment subsidy is 21.8% higher during a boom than during a recession. Our study also suggests that concentrating subsidies in establishments with small employment size will increase the investment inducement effect of the policy rather than provide equal subsidies for establishments of all sizes.

KCI등재 SSCI SCOPUS

7Triple Regime Stochastic Volatility Model with Threshold and Leverage Effects

저자 : Heejoon Han , Eunhee Lee

발행기관 : 한국경제학회 간행물 : The Korean Economic Review 36권 2호 발행 연도 : 2020 페이지 : pp. 481-509 (29 pages)

다운로드

(기관인증 필요)

초록보기

This study considers a new stochastic volatility model, in which the sign and magnitude of stock returns play roles in explaining a substantially detailed relationship between stock returns and volatility. The proposed model allows for threshold and leverage effects, and accommodates three regimes (i.e., large negative return; mid-range, including moderate negative and positive returns; and large positive return) to better capture the time-varying aspect of the leverage effect. Applications of the proposed model on the return series of the S&P 500 Index and Microsoft Corporation suggest that the relationship between stock returns and volatility depends on the magnitude of the returns and their signs. The comparison of the deviance information criterion for various stochastic volatility models reveals a good fit of the proposed model for the data.

1
권호별 보기
가장 많이 인용된 논문

(자료제공: 네이버학술정보)

가장 많이 인용된 논문
| | | |
1연안해역에서 석유오염물질의 세균학적 분해에 관한 연구

(2006)홍길동 외 1명심리학41회 피인용

다운로드

2미국의 비트코인 규제

(2006)홍길동심리학41회 피인용

다운로드

가장 많이 참고한 논문

(자료제공: 네이버학술정보)

가장 많이 참고한 논문

다운로드

2미국의 비트코인 규제

(2006)홍길동41회 피인용

다운로드

해당 간행물 관심 구독기관

인하대학교 성신여자대학교 전북대학교 고려대학교 동서대학교
 3
 3
 3
 2
 1
  • 1 인하대학교 (3건)
  • 2 성신여자대학교 (3건)
  • 3 전북대학교 (3건)
  • 4 고려대학교 (2건)
  • 5 동서대학교 (1건)
  • 6 중앙대학교(서울) (1건)
  • 7 이화여자대학교 (1건)
  • 8 University of Toronto (1건)
  • 9 Leiden University (1건)
  • 10 경기대학교 (1건)

내가 찾은 최근 검색어

최근 열람 자료

맞춤 논문

보관함

내 보관함
공유한 보관함

1:1문의

닫기