Vol.29 No.4 (2023.IV)

A Study on the Selection of Industries for Liquidity Support by Estimating the Probability of Cash Crunch Risk: Focusing on the COVID-19 case Eunsook Seo, Sanghyun Hwang
Financial Stability, Impossible Trinity, and Macroprudential Policy Jun-Hyung KO, Hitoshi MOTOYAMA, Akio SASHIDA
An Empirical Analysis of the Impact of Yen Exchange Rate Fluctuations on Japanese Exports: A Comparison Before and After the Great East Japan Earthquake Joon-heon Song

Vol.29 No.3 (2023.III)

Analysis of the Regime-Switching Property of Unspanned Macro Risks in the Korean Yield Curve Sun Ho Lee
Estimation of Korea’s Knowledge Production Function Considering Population Structure Change Won-Kyu Kim
The Effects of Changes in Population Structure and Policy Alternatives on Employment by Industry in Korea Hyejin Kim, Jongwoo Chung

Vol.29 No.2 (2023.II)

Analyzing the Pro-Cyclicality of Household Consumption in Korea after the Global Financial Crisis: Focusing on Consumption Behavior by Generation Young Jun Choi
Analysis of Determinants to Account for Changes in the Natural Rate of Interest before the COVID-19 Pandemic in Korea, the US, and Japan Junha Park, Dooyeon Cho
Which Type of Trust Matters?: Interpersonal vs. Institutional vs. Political Trust In Do Hwang

Vol.29 No.1 (2023.I)

The Korea-U.S. Interest Rate Differential, Real Exchange Rates & the Dollar-Carry Currency Return on the Korean Won: A Present Value Approach Jaeho Yun
The Effects of School Starting Age on Academic Achievement Taehoon Kim
Analysis of the Effects of Debtor-in-Possession on Performance of the Distressed Firms: Evidence from Kor Young Jun Choi

Vol.28 No.4 (2022.IV)

Essential Roles of CBDC in the Payment System Young Sik Kim, Ohik Kwon
Central Bank Digital Currency and the Transmission Channel of Monetary Policy: a Dynamic Stochastic General Equilibrium Approach Seonghoon Cho, In Do Hwang
Effects of the Introduction of Central Bank Digital Currency on Banking Industry and Macroeconomics Kee-Youn Kang, Inkee Jang, Byoungho Choi
CBDC and Card Payment Market Yeongwoong Do

Vol.28 No.3 (2022.III)

Predictive Probability Estimation of Stagflation in Korea Keunhyeong Park, Kyu Ho Kang
A Study on North Korea’s Economic System: Actual Conditions & Evaluation Moon-Soo Yang, Song Lim
Field-of-study Mismatch and the Long-term Wage Effects of Graduating During a Recession Young Jun Choi

Vol.28 No.2  (2022.II)

Dynamic Factor Model and Deep Learning Algorithm for GDP Nowcasting Hyun Chang Yi, Dongkyu Choi, Yonggun Kim
Private Insurance and Precautionary Saving: Evidence from the Korean Household Panel Survey Yunah Song
Seasonal Adjustment of Korean Daily Data Geung-Hee Lee, Keunho Jang

Vol.28 No.1  (2022.I)

Analysis of Housing Price Changes in South Korea Using the Structural Vector Autoregression Method: Estimating the Extent to Which Speculative Demand for Houses Contributes to the Price Changes Woojin Lee, Cheolbeom Park
Macroeconomic Implication of Foreign Currency Bond Financing by Non-financial Firms in Korea Jongho Park
Agent-based Systemic Risk Model Sangwon Suh

Vol.27 No.4  (2021.IV)

Forecasting Korean CPI Inflation Kyuho Kang, Jungsung Kim, Serim Shin
Transmission of Chinese Monetary Policy Shocks: Evidence from Korea Yujeong Cho
Changes in North Korea's Financial System During the Kim Jong-un Era -Based on North Korean Literature - Minjung Kim, Sungmin Mun

Vol.27 No.3  (2021.III)

An Empirical Study on Bank Capital Channel and Risk-Taking Channel for Monetary Policy Sang Jin Lee
The Government Expenditure Multiplier in Korea : Evidence From Input-Output Table Panel Data Minki Hong
Inter-regional Income Inducement and Income Transfer Analysis Using Korean Regional Input-Output Tables Tae Hyun Kwon

Vol.27 No.2  (2021.II)

A Slowdown in Korea's GDP Trend Growth and Its Decomposition Byoung Hoon Seok, Nam Gang Lee
The Effects of Job Training Programs on the Employment and Wages of Immigrants in Korea Hyejin Kim, Chulhee Lee
Estimating Land Assets in North Korea: Framework Development & Exploratory Application Song Lim

Vol.27 No.1  (2021.I)

Impacts of US Monetary Policy on Domestic Bond and FX Swap Markets Yongo Kwon, Mira Kim, Inhwan So
Estimation of the Potential Impacts of COVID-19 on Poverty in ASEAN Countries Hokyung Bang, Eunjeong Yang
The Impact of COVID-19 Pandemic on the Relationship Structure between Volatility and Trading Volume in the BTC Market: A CRQ approach Beum-Jo Park

Vol.26 No.4  (2020.IV)

Effects of Industrial Restructuring on Employment and Growth Byeongseon Seo · Taekyung Kim
Labor Market and Business Cycles in Korea: Bayesian Estimation of a Business Cycle Model with Labor Market Frictions Junhee Lee
Korea’s Employment Embodied in Exports: a Multi-Regional Input-Output and Structural Decomposition Analysis Tae-jin Kim
Determinants of a Firm’s Exit from Exporting: Evidence from Korean Manufacturing Firms Yunmi Nam · Moon Jung Choi

Vol.26 No.3  (2020.III)

Predicting Economic Activity via the Yield Spread: Literature Survey and Empirical Evidence in Korea Jaeho Yun
Estimating a Precautionary Saving Motive under Consumption Uncertainty Jin-tae Hwang · Sung-min Kim
The Bank of Korea Act Enacted as an Apparatus for Modern Central Banking: A Review and Evaluation Hong-Bum Kim

Vol.26 No.2  (2019.II)

Effects of Dollarization on Inflation and Exchange Rates in North Korea Sungmin Mun · Byoung-ki Kim
Business Cycle Analysis on Korean Youth Labor Market using Alternative Unemployment Measures Taebong Kim · Keunhyeong Park
The Effects of North Korea’s Mineral Export on Various Imports Dawool Kim · Minjung Kim · Byung-yeon Kim

Vol.26 No.1 (2020.I)

Minimum Wage and Productivity: Analysis of Manufacturing Industry in Korea Kyoo Il Kim · Seung Whan Ryuk
A Political Economic Analysis of Korean Reunification, Migration and Income Redistribution Weh-Sol Moon
Estimation of the Korean Yield Curve via Bayesian Variable Selection Byungsoo Koo
Impacts of Population Aging on Real Interest Rates Myunghyun Kim · Ohik Kwon

Vol.25 No.4  (2019.IV)

The Impacts of Student Loans on Early Labor Market Performance
Dongkyu Yang · Jaesung Choi
Patene Citations and Localizations of Knowledge Spillovers: Evidence from Korea
Jihong Lee · Yunmi Nam
Comparative Analysis of Youth Unemployment in Korea and Japan: Implications for Korea SaangJoon Baak · Keunho Jang

Vol.25 No.3 (2019. III)

The Impact of Dual Labor Market on Labor Productivity: Evidence from the OECD
Koangsung Choi · Jieun Lee · Chung Choe
International Trade and Labor Demand of Korean Firms: Focusing on Heterogeneous Firm Productivity
Jihyun Eum · Jinho Park · Moon Jung Choi
The Effects of Financial Market Uncertainty: Does Regime Change Occur During Financial Market Crises?
Seewon Kim
The Effects of Government Spending in Korea: a FAVAR Approach
Wongi Kim

Vol.25 No.2 (2019.II)

Monetary Policy in a Two-Agent Economy with Debt-Constrained Households 
Yongseung Jung, SungJu Song
A study about the effects of online commerce on the local retail commercial area
Kangbae Lee
The Analysis of Hysteresis in Youth Unemployment
Namju Kim
The Impact of US Monetary Policy upon Korea's Financial Markets and Capital Flows: Based on TVP-VAR Analysis
Hyunduck Suh, Tae Soo Kang

Vol.25 No.1 (2019.I)

Determinants of Variance Risk Premium
Sun-Joong Yoon
Import Demand in Developed Economies & Korean Exports
Moon Jung Choi · Kyung Kuen Kim
Employment Structure in Korea: Characteristics & Problems
Keunho Jang

Vol.24 No.4 (2018.IV)

Monetary Policy and Corporate Investment: Analysis of the Asset Price Channel and the Balance Sheet Channel
SaangJoon Baak · Seung Whan Ryuk
An Empirical Study on the Risk-taking Channel of Monetary Policy in Korea
Choi, Won Hyung · Yoon, Young Man
Which determines new housing supply? Demand versus Supply
Jiyoon Oh
The Demographic Structure, Firm Age and Economic Performance: A Local Level Analysis
Jisoo Kang · Janghee Cho

Vol.24 No.3 (2018. III)

Analysis on Korean Inter-industry Productivity Spillover Effects
Won-Kyu Kim
Fourth Industrial Revolution and Innovative Capacity: Comparative Analysis of Major Industrial Nations with US Patent Data, 1976-2015
Lee, Jihong · Lim, Hyunkyeong · Jeong, Daeyoung
Inventory Investment and Business Cycle: Asymmetric Dynamics of Inventory Investment over the Business Cycle Phases
Byeongseon Seo · Keunho Jang
The Analysis on the Sources of the Excessive Consumption Volatility in Emerging countries: Based on the Comparison of Korea with Mexico 
Kwang Hwan Kim · Taekyung Kim

Vol.24 No.2 (2018.II)

The Effects of Job Training Programs on Employability among College Graduates
Chung Choe · Namju Kim · Koangsung Choi
A Construction of an Employment Multiplier in the Input-Output Model: The Analyses of Industrial Labor Linkages and Opportunity Costs
Haemyoung Ji
Analysis of the Relationship between Negative Interest Rate and Bank Profitability
Jae-Joon Han · Inhwan So
Structural Relationships between Equity Flows, Stock Prices and Exchange Rate
Cheonggu Cho

Vol.24 No.1 (2018.I)

An Empirical Study on Savings Banks’ Ownership Structure and Dividends
Hakkon Kim
Analysis on Determinant Factors of Local Government Expenditure with Panel Data Ridge Regression
Seung-Jun Park · Dae Chul Kim
The Effect of the Cash Receipt System on Preventing Tax Evasion from Consumers’ Perspective
Eunbi Ko · Heonjae Song
Dispersion of Household Debt and Its Macroeconomic Implications: Evidence from South Korea
Ki Young Park · Soohyon Kim

Vol.23 No.4 (2017.IV)

The Effect of Population Aging on Growth
Byung Kwun Ahn · Ki-Ho Kim · Seung Whan Ryuk
The Effects of Population Aging on the Labor Market
Chulhee Lee · Jieun Lee
Analysis of Regional Categorization by Employment and Wages and the Possibility of the Virtuous Cycle
Jeonghong Kim
Changes in Global Value Chains and Factor Decomposition Analysis of GDP Changes in Korean Industries Based on Brexit Scenarios
Tae-jin Kim · Jungu Kang · Seung-jin Shim

Vol.23 No.3 (2017. III)

The Role of Unobservable Fundamentals in Korea Exchange Rate Fluctuations: Bayesian Approach
Young Min Kim · Seojin Lee
Demographic Change and Long Term Trend of Inflation: The Case of South Korea
Hwan Koo Kang
Main Bank Relationship and Firm's Income-Increasing Earnings Management
Sang wook Lee

Vol.23 No.2 (2017.II)

An Empirical Analysis of Mortgage Loan Delinquency Using Personal Panel Data in Korea
Hosung Jung
The Effects of Household Debt on Consumption and Economic Growth - Flow Effect and Stock Effect -
Jong Ku Kang
Estimation of Formal and Informal Sectors in Social Accounting Matrix for the North Korean Economy
Jiyoung Choi
The Effects of Relationship Banking on Bank Lending to Small and Medium-sized Enterprises: Evidence from Korea
Sangwon Suh · Kyung rok Wi

Vol.23 No.1 (2017.I)

Effects of Increasing Non-regular Workers on Wage Distribution
Chung Choe · Sungyup Chung
Analysis of Call Rate Behaviour Using Regime-switching Diffusion Process Model
Seungmoon Choi · Byungkuk Kim
Fiscal Multipliers of Korea: A Bayesian VAR Approach
Kang Koo Lee · Joonyoung Hur
China Effects on Labor Markets in Korean Manufacturing Industries: Empirical Analysis
Taegoo Kwon · Nakil Sung · Minchang Kim

Vol.22 No.4 (2016.IV)

Marginal Efficiency of Investment (MEI) Shock and Comovement of Consumption
Kwang Hwan Kim · Chang-kee Lee
Implied Liquidity Estimation
Joon Myoung Woo · Jieun Lee
Credit Cycle and the Macroeconomy: Empirical Evidence from Korea
Jaehoon Hahn · Ho-Seong Moon
Central Bank Losses and Monetary Policy Implementation
Yongho Lee · Youngman Yoon

Vol.22 No.3 (2016. III)

An Interpretive Analysis of Direct and Indirect Input Requirements in the Input-Output Model
Sang Yul Shim · Yoon Kyung Kim
The Effect of Pension Wealth of National Pension and Special Occupational Pension on Household Savings
Wonjin Jang · Heonjae Song
Investors’ Herd Behavior and its Relation with Volatility in the Korean Stock Market
Beum-Jo Park
Internationalization of the German Financial System: Structural Features and Implications
Hee-Sik Kim

Vol.22 No.2 (2016.II)

Population Aging and Extension of Retirement Age (Quantitative Analysis using Overlapping Generation Model)
Jay H. Hong · Youngjae Lee · Taesu Kang
Intergenerational Equity and Sustainability of the Korean National Pension: A Generational Accounting
Ki-Hong Choi
The Role of Foreign Currency Deposits, and the Impacts of External Shocks on CDS Spreads for EMEs
Hosung Jung · Woo Joon Myung

Vol.22 No.1 (2016.I)

The impacts of Dual Labour Markets on Unemployment and Productivity
Sun-Bin Kim · Yongsung Chang · Taesu Kang
Inference and Dynamic Analyses of Non-stationarity of Real Interest Rate
Yun-Yeong Kim
Non-Recourse Mortgage Loans and Implied Option Prices
Sun-Joong Yoon · Chang Gyun Park
Comovement of Won/Dollar Exchange Rates with Yen/Dollar Exchange Rates Revisited
Keun Yeong Lee

Vol.21 No.4 (2015.IV)

An Analysis on the Inflation Differentials by Income and Age Group : Focusing on the Democratic CPI
Hyun-Jeong Kim · Hyungsik Kim · Jungick Lee
GVAR Analysis on 6 Korean Broad Regions - Bayesian Cointegration Approach
Ki-Ho Kim
Understanding the Effects of Different Types of Oil Shocks on Korean Manufacturing Industry
Kyungsoo Cha
Maximum Likelihood Estimation of Continuous-Time Diffusion Models for Korean Short-Term Interest Rates
Seungmoon Choi
Inflation Dynamics and Monetary Policy : Markov Switching Model Approach
Woo Joon Myung

Vol.21 No.3 (2015. III)

The Korean Financial Cycle
Jungyeoun Lee · Yang Su Park
Forecasting CPI Inflation Using Combination of Point Forecast and Density Forecast
Hyun Hak Kim
Artificial Market Approach to Employment Targeting: A Possibility of ‘Smart’ Employment Policy
Du Yong Kang
The Value-Added and the Productivity of Korean Banking Industry
Se-Jik Kim · Seungki Hong
An Empirical Analysis on the Sources of Agglomeration Economies : Focusing on Coagglomeration Patterns
Changuk Byeon

Vol.21 No.2 (2015.II)

The Determinants of FDI and Suggestions of Recent Changes in Korea
Chang Hyun Park · Hangseo Cho · Sung Hee Ahn · Jongik Park
Reasons for Recent Decline in Economic Volatility, and Implications
Hwan-Koo Kang · Sei-joon Park · Jihoon Ahn · Jongik Park · Sunghee Ahn
The Relationship between Exchange Rate Fluctuations and Export Prices Considering Imported Input Costs
Kyungmin Kim
Risk Preferences in Decision Making and Cognitive Ability: An Experimental Analysis
Beum-Jo Park
Bank Loan Portfolio and Bank Risk
Sang Wook Lee · Sung Wook Cho
The Effect of House Prices on Consumption: Evidence from Micro Panel Data on Mortgage Borrowers
Sungho Choi · SangYoon Song · Youngsik Kim

Vol.21 No.1 (2015.I)

Is There Diversification Incentive in Foreign Equity Fund Investment?: Evidence from Korean Equity Fund Market
Kim, Sei-Wan · Park, Jee-Won
Impacts of Employment Protection on Labor Market Duality and Productivity
Seungwon Kim
Impacts of Population Aging on Employment in Korea
Sunyoung Jung
Monetary and Macroprudential Policies Considering Business and Financial Cycles
Yong Min Kim · Jung Yeoun Lee
The Effects of Outward FDI on Domestic Investment in Korea: Using Firm-Level Data
Bong Geul Chun · Hyounjin Yi
Nominal Wage Contracts, Search Frictions and the Macroeconomy
Weh-Sol Moon

Vol.20 No.4 (2014.IV)

Forecasting Korean Macroeconomic Variables with Autoregressions and Vector Autoregressions
Jinhee Lee · Dukpa Kim
Predictive Density Simulation of the Korean Yield Curve: Pooling Method Approach
Ah Jin Choi · Kyu Ho Kang
Effects of Demographic Changes on Economic Growth in an Open Economy: The Relationship between Population Ageing and Capital Movements
Jong Chil Son
Business Cycle Indicator Using Big Data: Compilation of the Naver Search Business Index
Geung-Hee Lee · SangPil Hwang

Vol.20 No.3 (2014. III)

Market Concentration and Labor Income Share: A Panel Analysis based on the Korean Manufacturing Sector
Hyein Shim
Institutional Quality and Economic Growth
Young Soo Shin · Yong-Hwan Noh · Dongwon Lee · Weh-Sol Moon
Estimation of Current Account Benchmarks via Bayesian Model Averaging
Min-Ho Nam · Hyuntae Kim
International Portfolio Investment Behavior: Relationship between Bond and Equity Flows
Joo Yong Lee · Geun-young Kim

Vol.20 No.2 (2014.II)

Panel Econometric Analysis on the Determinants Affecting Default Probability of Saving Banks in Korea
Jeong Hwan Bae
Effects of Large Distribution Firms on the Number of Small Retail Stores : An Empirical Analysis
Taegoo Kwon · Nakil Sung
A Research on the Relation between Capital Intensity and Value-added : The Application of the Hypothesis of Galenson and Leibenstein using IRIO Model
Haemyoung Ji
The Short-Term Risk Premium Puzzle : Revisited by Dynamic Herd Behavior
Beum-Jo Park

Vol.20 No.1 (2014.I)

Recent Developments and Challenges in DSGE Modeling at Central Banks : A Survey
Hwan-Koo Kang · Yang Su Park · Jinho Choi
Income Tax Burden by Income Groups and Bracket Creep Effect
Nak Nyeon Kim
An Empirical Analysis on the Regional Output-Employment Relationship
Young-Duk Kim
In Search of Better Labor-Market Indicators : Assessment of Inflation Predictability
Kangwoo Park · Sangwoo Lee

Vol.19 No.4 (2013.IV)

Estimating the Neutral Real Interest Rate (NRIR) and Analyzing Factors of its Fluctuation in Korea
Minsu Kim · Yang Su Park
A Study on the Interaction between House Prices and the Real Economy in Korea
Kyungsoo Cha · Sangyeon Hwang
A Study on Merchant Membership Obligations in the Korean Credit Card Industry
Sun-Joong Yoon · Kyeong-Hoon Kang · Jeong Gyu Kim
Foreign banks and Main Bank Relations
Sang Wook Lee

Vol.19 No.3 (2013. III)

Recent Theories Regarding Financial Contagion
Frederick Dongchuhl Oh · Hyunjoon Lim
Determinants of Per Capita Income Volatility Across Countries Focusing on the Stabilization Effect of Government Spending
Noh-Sun Kwark
Analysis on Wage Gap responses to Education level and Skill
Eun Suk Kim · GBong Geul Chun
What Explains Movements in the Labor Income Share in the Korean Economy?
Bae-Geun Kim

Vol.19 No.2 (2013.II)

Assessing Korean Households Credit Risk - Stress Tests with Household Level Data
Young Il Kim · Joo Hee Yoo
Productivity Performance and Exporting Activity of Korean Manufacturing Firms - Quantile Regression Approach
Minjung Kim
Volatility Regimes and the Relationship between Volatility Trading Volume and Spreads in the FX market
Beum-Jo Park
Total Factor Productivity and Growth Potential - A Macro-Perspective Analysis on R and D Investment in OECD Countries
Joonkyung Ha · Eunseok Lee

Vol.19 No.1 (2013.I)

On the Determinants of Currency Internationalization - Implications for Korean Won Internationalization
Suk Hyun · Sangheon Lee
An Empirical Study on the Effects of Bank-Firm Relationship on Small Firm Borrowings
Jung-Jin Lee · Soo-Young Hwang
Corruption Technological Progress and Economic Growth - An Empirical Evaluation Using Cross-Country Data
Seewon Kim
The Evolution of Industry Comovement in Korea - A Wavelet Analysis
Sunoong Hwang

Vol.18 No.4 (2012.IV)

Analysis of Changes in the Welfare of Middle and Low Income Families in Korea after the Global Financial Crisis Based on Stochastic Dominance Approaches
Mijung Choi · Jin Lee
The Yen Real Exchange Rate May Not be stationary After All - New Evidence from Non-linear Unit-Root Tests
Hyeongwoo Kim · Young-Kyu Moh
The Nature and Determinants of the Loss Given Default of Residential Mortgage Loans - Evidence from the Apartment Market
Doo Won Bang · Yun Woo Park
Asymmetry and Non-Linearity in the Exchange Rate Pass-Through to Korean Export Prices
Cheonggu Cho

Vol.18 No.3 (2012. III)

Inflation Persistence in Korea
Tae-Jeong Kim · Kwangyong Park · Kumhwa Oh
Dynamics of Asset Prices Based on Time-varying Risk Aversion and Adaptive Beliefs System
Beum-Jo Park
Extracting the Nominal Risk-Free Rate from Stock Returns and the Purchasing Power Parity Hypothesis of the Won-Dollar Exchange Rate
Hyein Shim · Heechae Ko
Expenditures on Education and Household Saving Ratio
Hyunjoon Lim · Kangwoo Park
Income Concentration in Korea 1976-2010 - Evidence from Income Tax Statistics
Nak Nyeon Kim

Vol.18 No.2 (2012.II)

Regional Financial Market Integration in Korea 1876-1942
Dae Hyun Kim
A New Measure for Core Inflation Based on Generalized Dynamic-Factor Model
Jinill Kim · Byung Kwun Ahn
Structural Break in the Term Structure of the Korean Government Bond Yields
Kyu Ho Kang
The Impacts of Single Bank Relationship on Firm Performance
Sang Wook Lee

Vol.18 No.1 (2012.I)

Analysis on the Causes of Increase in Income Inequality using Country Panel Data
Kang, Jong=Ku · Park, Chang-Gui · Cho, Yoon-Je
Inflation Differentials between Korea and 9 OECD Countries
Myung Kee Kim · Ehung Gi Baek
The Increase in Household Debt and Borrowing Constraints
Kyeongwon Yoo · Hae Won Byun

Vol.17 No.4 (2011.IV)

Analysis on the Forecasting Performance of KOSPI200 Volatility between Long Memory Model and Regime-Switching Model
Joonhyuk Song
Comparison of Employment Policies Aimed to Deal With Aging Population with respect to Their Effect of Improving Growth Rate
Ki-Ho Kim
Cumulative Effects of Trade Liberalization - The Case of Korean Manufacturing
Soonchan Park
The Effect of Housing Price Changes on Household Debt - An Overlapping Generations Model Approach
Hyun Jeong Kim · Jong Chil Son · Myung-Soo Yie

Vol.17 No.3 (2011. III)

A Cause Analysis of Low Fertility and Population Aging in Korea - Evidence from Economic Factors in Marriage Determination
Sangho Yi · Sangheon Lee
Systemic Risk and Financial Regulation
Seung Hwan Lee
Analysis on the Effect of Foreign Factors on the Korean Bond market and Prediction using Two-country Nelson-Siegel Model
Do-wan Kim
The Effect of Sector-Biased Technological Progress on Economic Growth - An Approach Based on a Multi-Sector Growth Model
Bae-Geun Kim

Vol.17 No.2 (2011.II)

Are Korean Recessions affected by Oil Price Shocks
Kwon Sik Kim
Industrial Diversity and Frictional Unemployment
Sangheon Lee
The Cash Flow Sensitivity of Investment - A Switching Regression Approach Based on Korean Firm Data
Jaewoon Koo · Kyunghee Maeng
The extension of a continuous beliefs system and analyzing herd behavior in stock markets
Beum-Jo Park
A Study on the construction and application of fossil energy Input-Output table
Park, Chang-Gui · Lee, Kihoon

Vol.17 No.1 (2011.I)

An Estimate of Consumer Price Index of Colonial Korea 1907-1939
Ki-Joo Park · Nak Nyeon Kim
The Relationship between Retirement and Household Consumption
Jaeho Yun · Hyun-Jeong Kim
Comparison of Stochastic Frontier Models in Application to Analysis on R and D and Production Efficiency
Young Hoon Lee
The Role of Money and Banking in Monetary Policy Does It Matter Quan itatively for the Korean Economy
Hyun Euy Kim · Sang Min Aum

Vol.16 No.4 (2010.IV)

An Analysis of Factors Affecting Korean Banks Maturity Mismatch
Jong Ku Kang
Estimating Real Effective Exchange Rate by Industry in Korea and Panel Unit-Root Tests
Hokyung Bang
Autonomous Stability Mechanism of Won Dollar Foreign Exchange Rate through Lagged Own Volatility
Yun-Yeong Kim
Post Crisis Foreign Exchange Market of Korea Decomposition of Financial and Real Factors
Dongchul Cho
Microstructure Approach to Private Information in the Won Dollar FX Market The Influence of Domestic and Foreign Dealers Order Flows
Junghoon Seon · Kyong Shik Eom

Vol.16 No.3 (2010. III)

Extracting Stochastic Volatilities and Jumps for the Korean Stock Index Using Optimal Filter
Jaeho Yun
The Efficiency of Price Discovery in the Korean Government Bond Markets
Junghoon Seon · Seung Hyun Oh
The Effect of Elite High Schools on Households Private Tutoring Expenditures
Joonkyung Ha
The Stress test of Household Loan Sector considering Heteroscedasticity Autocorrelation and Conditional Loss at Given Default(LGD)
Do-wan Kim · Kibeom Kim
The Relationship between Uncertainty of Price Variables and Economic Fluctuations

Vol.16 No.2 (2010.II)

Global Production Networks and Trade Balance Structures
Hongshik Lee · Jungu Kang
Assessment of Deflation Risk in Korea
Woong Kim
The Intra and Inter-generational Welfare Impact of the Financing Policies of the National Pension System
Sungwhee Shin · Ki-Hong Choi
On Return and Volatility Timing Abilities in Korean Equity Funds
Sangbae Kim · Taehun Jung

Vol.16 No.1 (2010.I)

Empirical Estimation of Banks Herding in the Korean Loan Markets
Jong-Ku Kang
An Empirical Analysis of the Relationship between Monetary Policy and Stock Returns in Korea and Its Implications
Sangkyu Lee · Yang Woo Kim ·  Joonmyung Woo
The Factors Affecting Distribution of Fund Fees between Managing Firms and Selling Channels
Sejin Min · Kyoungwon Rhee
Productivity and the Timing of Foreign Direct Investment
Sangho Kim

Vol.15 No.4 (2009.IV)

Demand for Risky Assets with Uncertain Labor Income A Panel Study
Seewon Kim
The Price-setting Behavior of Korean Firms Survey Evidence
Woong Kim · Seung Je Hong
Household Debt in Korea Empirical Evidence from Micro Data
Kyeongwon Yoo
Herding in Financial Markets Its Causes and Implications
Jong-Ku Kang

Vol.15 No.3 (2009. III)

Monetary Policy Effects on Disaggregated Prices in Korea
Kangwoo Park
Does the Price Gap Predict Inflation An Approach Based on the Theory of the Price Level
Bae-Geun Kim
Roemers Conception of Equal Opportunity and Koreas Income Tax-Benefit Policy
Woocheol Kim · Woojin Lee
The Impact on Consumption of the Household Indebtedness in Korea
Hyun Jeong Kim · Wooyoung Kim

Vol.15 No.2 (2009.II)

Determinants of Net Interest Margin in Korean Banking Industry
Chang-Gyun Park · Taehoon Youn
Decomposition of Interest Rate Differentials
Bok-Keun Yu · Hwagyun Kim
National Accounts of Korea 1911-2007 A Long Term Series of Principal Indicators
Nak Nyeon Kim
Estimating monthly Macro-Finance Model for Korea
Seonghoon Cho

Vol.15 No.1 (2009.I)

Forecasting Economic Variables Using Disaggregated Data for Consumer Expectations A Comparison of Forecast Combination Methods
Ha-Hyun Jo · Sun-Oong Hwang
Exchange Market Pressure and Net Foreign Assets in Korea
Yongbok Kim
The Trade Creation Effects of Hallyu
Soonchan Park · Jong Il Choe
The Determinant of Employment Decision on Foreign Workers
Chul-Woo Kwon · Bong Geul Chun

Vol.14 No.4 (2008.IV)

Bond Risk Premia and Business Cycle
Joonhyuk Song · Youngsoo Choi
A Study on the Relationship between Volatility and Trading Volumes Using a Surprising-Information-Stochastic-Volatility(SISV) Model
Beum-Jo Park
The Analysis of daily Korea call rate
Dong Heon Kim · Myoungjae Lee
Explaining the Cyclical Behavior of the Korean Labor Market
Weh-Sol Moon

Vol.14 No.3 (2008. III)

A Look at Habit Persistence over Business Cycles
Yongseung Jung
External Supply Shocks and the Optimal Interest Rate Rule in an Open Economy
Geun-Young Kim
An Assessment of the New Keynesian Phillips Curve in the Korean Economy
Bae-Geun Kim · Byung Kwun Ahn
The Cost Channel Effect of Monetary Policy in Korea
Myung-Soo Yie
Interest Arbitrage and Interest Rates in Korea
Byoung Hark Yoo

Vol.14 No.2 (2008.II)

A Study on the Stability of Korean Banks Household Lending Sector_A Stress Test under a Macroeconomic Credit Risk Model
Heung Bae Chun · Jung-Jin Lee · Woon Youl Choi
Chinese Banks' Efficiency and Productivity Change during the Financial Reform Era of 1998 to 2006
Dae-Won Oh
An Empirical Analysis of the Propagation Mechanism of Financial Globalization
Heesik KIM · Seung-je HONG
Empirical Analysis of the Crowding Out Effect of the National Pension on Household Private Savings
Kim Dae Chul · Kim Jin Young · Lee Man Woo

Vol.14 No.1 (2008.I)

Testing Purchasing Power Parity in Transformed ECM with Nonstationary Disequilibrium Error
Yun-Yeong Kim · Joon Y. Park
Asymmetric Responses to the Business Cycle in Korean Labor Market
Wooyoung Kim
The Effect of Foreign Direct Investment on Domestic Investment
Hyun-Jeong Kim
Uncovering Structural Change in U.S. Economy_ The Analysis of Single Source of Error Beveridge-Nelson Decomposition
Dong Heon Kim · Chang-Jin Kim · Do-wan Kim

Vol.13 No.4 (2007.IV)

Changing Temporary Employment Dynamics in the Korean Economy
Sun-Ung Hwang
Money Demand and House Prices in Korea
Byoung Hark Yoo
The Probability of Being Credit-Constrained Households and Labor-Income Risk
Jinsuk Choi · Youngduk Kim
Welfare Implications of Alternative Monetary Policy Rules under Imperfect Information
Yong-seung Jung

Vol.13 No.3 (2007. III)

Changes in Financial Environment and the Stability of Korean Banks
Jong-Ku Kang
The Optimal Tax Burden Ratio in Korea
Young Jun Chun · Chong-Bum An
Are Korean Consumers Prudent
Seewon Kim
Estimation of Korean Monthly GDP with Mixed-Frequency Data using the Unobserved Component Error Correction Model
Ki-Ho Kim
Empirical Investigation of Stochastic Volatility Interest Rate Models using the EMM The Case of Korea
Chae-Shick Chung · Jong Sung Lee

Vol.13 No.2 (2007.II)

An Analysis on the Characteristics of Recent Business Cycles
Nam, Sang-Ho
Macroeconomic policy Mix and Social Welfare
Kim, Hyun-Jeong · Seong Hun Yun
Decrease in the household Savings Rate and the Effecriveness of Monetary policy
Chung, Kyuil
The Impact of Pension Funds on Capital Markets_ The Mechanism and Conditions
Kim, Hee-Sik
Research on Long-term Memory of interest Rate Fluctuations in Korea Using Wavelet OLS
Jin, Hyung Joung · Jun Mo Park

Vol.13 No.1 (2007.I)

Accessibility to Capital Markets and the Sensitivity of Investment to Cash Flows
Kwangwoo Park · Rae Soo Park · Suk Heun Yoon
The Interest Rate Channel of Monetary Transmission under Low Inflation in Korea
Hyun-Euy Kim
The Impact of Surprise Information on the Relation between Volatility and Trading Volume in Exchange Rate Markets
Beum-Jo Park
Preemptive Monetary Policy and the Zero Interest Rate Bound
Taehun Jung
Transparency of Financial Regulation and Financial Stability
Chul-Woo Kwon · Bong Geul Chun
An Analysis of the Demand For Cash in korea
Byoung Hark Yoo

Vol.12 No.4 (2006.IV)

Information Technology and Polarization - Analysis of the Heterogeneous Effects Associated with Differences in Firm-Size, Industrial Sector and the Role of IT
Ilsoon Shin · Sang Won Lee
A Causal Analysis of Changes in Korea Household Consumption Behavior after the 1997 Currency Crisis
Youngjun Choi
Market Structure and Market Performance in the Korean Manufacturing Industries - Panel Data Approach
Gwang-hoon Lee
The Shift to the Service Economy - Causes and Effects
Hyun-Jeong Kim
Understanding the Synchronisation of the Movements of Korean won and Japanese yen from an FX Market Micro-structural Approach
Haesik Park · Chi-Young Song

Vol.12 No.3 (2006. III)

Macroeconomic Impacts of the Accelerating Depreciation of Human Capital and Rising Social Insurance Contributions
Cuhl-In Lee
An Analysis of Personal Bankruptcy Decisions in Korea
Kyeongwon Yoo
The Optimal Structure of Technology Adoption and Creation - Basic Research vs. Development in view of Distance to Technological Frontier
Yongjin Kim · Jongwha Lee · Joonkyung Ha
Monetary Policy and Stock Market - Intraday Transaction Data Analysis
Wook Sohn · Yunsung Eom
The Stabilizing Effect of Active KRW-JPY Transactions on KRW Exchange Rate Movements
Sangwon Suh

Vol.12 No.2 (2006.II)

Benchmarking of Korean Economic Time Series
Geunghee Lee
Income Redistribution Structure of the Korean Economy - A Social Accounting Matrix Perspective
Yong-Hwan Noh
Estimation of the Asymmetric Monetary Policy Reaction Functions in Korea
Young-Sun Kwon
Job Flow and Unemployment in Korea - A Search-Theoretic Approach
Hyewon Kim
The Effect of the Trade Pattern of the Automobile Industry on Productivity
Dukhee Lee · Hyunjeong Kim · Misuk Jung

Vol.12 No.1 (2006.I)

Technology Innovation and Employment
KyuHo Kang
A Microdata Analysis of Recent Corporate Investment in Korea
Kiseok Hong
The Influence of Foreign Stock Investment on Korean Stock Prices and Its Implications
Sangwon Suh
The Impact of Regional Economic Integration on the Technology - Intensive Intermediate Goods Industry
YoungHan Kim

Vol.11 No.4 (2005.IV)

Cointegration Analysis of Financial Imbalances and Bankruptcies
WooSik Moon · YoungRok Cheong
An Empirical Study on the Determinants of the Cost of Financial Intermediation in the Korean Banking Industry
JungHee Park
Equity Return's Effect on Consumption - Empirical Evidence from Nonlinear Estimation
Seiwan Kim
Industry Level Real Effective Exchange Rates for Korea
Jaerang Lee · ByungChang Yi
The Financial Markets' Responses to Monetary Policy Announcements
Wook Sohn · Byungmook Sung · Hyosung Kwon

Vol.11 No.3 (2005. III)

Banks' Financial Intermediation Role in Korea
Jong-Ku Kang
A Study on Credit Information Sharing
Hyung-Kwon Jeong
SME Financing and Bank Lending - A Study on the Innovative SMEs
Joon-Ho Hahm · Jong-Ku Kang
Use of Information Variables in Inflation Forecasting
Jong Hwa Kim · Joong Shik Lee

Vol.11 No.2 (2005.II)

Estimation of the Term Structure of Interest Rates and its Features
Hyoung-Seok Lim
Aging and Aggregate Labor Productivity
Kwan-ho Shin · Yoon-Jae Whang
An Analysis on the Growth Effect of R&D in Korea
Joonkyung Ha
Employment Rate - A concept and Its Empirical Usefulness
Ki-Ho Kim · Dongkoo Chang
An Empirical Study of the Crowding - out Effect of the Public Pension on the Private Savings by Household Characteristics
Sung-ho Kang · Byung-in LIM

Vol.11 No.1 (2005.I)

An Analysis of Brisk Exports and Sluggish Domestic Demand Using a Nontradables Model_The Case of Korea Dongkoo Chang · Youngjun Choi
On an Effective Way of Implementing Bancassurance Sangche Lee · Jaewook Chung
Economic Effects of WTO Agricultural Liberalization_Focusing on Rice Chang-soo Lee
The Predictive Power of the Index of Consumer Sentiment Seung-Nyeon Kim · Youngwan Goo
The Adjustment of Bank Loans Responding to the Change of Bank Capital Ick Jin

Vol.10 No.4 (2004.IV)

International Finance Center_its conditions and effects
Sangyong Joo
Bank Consolidation and Bank Competition_An Empirical Analysis of the Korean Banking Industry
Sangkyu Lee · Jong-Kun Lee
Seigniorage and Policy Implication for Korean Economy
Seung-Je Hong · Jeong-Ho Hahm
An Analysis of the Effect of North Koreas and Inter-orean Trade on the economic growth of North Korea
Young-Hoon Lee
The Analysis of Knowledge Spillover Effects from Foreign Direct Investments in the IT sector
Gwnag hoon Lee

Vol.10 No.3 (2004. III)

Does Employment Resolve Poverty
Jae-Ho Keum
Change in Growth Potential of Korean Economy
Jong-Il Kim
An Essay on Invoicing Practices of Korean Exports
Yun Seong Hun
Quantitative Estimation of Industrial Hollowing Out
Do Yong Kang
Empirical Analysis of Precautionary Portfolio Allocation_Evidence for Korea
Kyeongwon Yoo

Vol.10 No.2 (2004.II)

What should be a Future Financial System in Korea Taehon Jinn · Duck-Young Kim· Jeong Ho Hahm
The Optimal Size of Public Sectorand Endogenous Growth under Rent-Seeking Competition Changmin Kim · Hyun Park
Financial Stability and the Public Agencies Concerned_The Case for Supervisory Cooperation and Checks and Balances Hong-Bum Kim
Factor Substitution of IT Capital_Empirical Evidence from Korean Firms Sung-Bae Moon · Dong-pyo Hong
Bank Consolidation and Monetary Policy Dongwook Yang · Seungje Hong

Vol.10 No.1 (2004.I)

Regional Segregation of Financial Markets in Korea Jaewoon Koo · Ho Seong Moon
The Effect of Deindustrialization on Economic Growth and Fluctuation Du Yong Kang
Volatility Spillovers in the Korean Financial Markets Ok-Ja Yoon · Kyu-Ho Kang
Compensation Schemes and Investment Behavior Venture Capital Firms Kyungwon Rhee
Identifying Business Cycle Turning Points in Korea with a New Index of Aggregate Economic Joong Shik Lee

Vol.9 No.4 (2003.IV)

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Fiscal Inflation_Theory and Applicability in Korea
Joo Kyung Ree
A Study on the Structural Change of Fiscal Policy after Korean Currency Crisis
Seong-Suhn Kim
Impact of Direct Regulations on the Korean Credit Card Market and Consumer Welfare
Seong-Hun Yun
Is korea Being Deindustrialized
Hyun-Joon Lim
Internet-Only Banks_Uncertain Innovation
Sangche Lee

Vol.9 No.3 (2003. III)

The effect of financial Restructuring on the Degree of Competition of the Korean Banking Sector
Byungyoon Lee
Rebuilding the Transmission System for Monetary Policy
Jeong Ho Hahn · Byung Han Seo
A study of the Relationship between the Korean Won and the Japanese Yen after the financial Crisis
Bong Han Kim
The Natural Rate of Unemployment in Korea and Its Usefulness
So-Sang Moon
Sources of Fluctuations of the Real
Myoungchul Chung
(Adding the list is in progress, the latest is 2023.I)

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