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Government Spending Policy Uncertainty and Economic Activity: U.S. Time Series Evidence
(Korea Institute for International Economic Policy, 2016-12-16)
What are the macroeconomic consequences of fiscal policy uncertainty? Recently, many economists and policy makers are concerned about the adverse effects that uncertainty in fiscal policy has on economic activity. In the U.S., for example, the debt-ceiling ...
Exchange Rate Flexibility, Financial Market Openness and Economic Growth
(Korea Institute for International Economic Policy, 2016-06-27)
With global recovery not in sight, along with calls for stronger structural reform, international policy coordination is again under spotlight. Correcting global imbalance would contribute towards closing the demand gap. Emerging economies in particular ...
Financial Market Integration and Income Inequality
(Korea Institute for International Economic Policy, 2018-07-20)
Over the past decades, financial markets have been integrated across countries while income inequality has increased in most countries. This paper studies the effect of financial market integration on income inequality and investigates whether the ...
To Whom does Outward FDI Give Jobs?
(Korea Institute for International Economic Policy, 2016-09-30)
In this paper, we examine the impact of outward foreign direct investment (OFDI) on the overall employment in a sourcing country, using Korean industry-level data for the period 2007-2014. We further decompose the effects of OFDI into types of foreign ...
What Determined 2015 TPA Voting Pattern?: The Role of Trade Negotiating Objectives
(Korea Institute for International Economic Policy, 2017-12-27)
This paper analyzes 2015-TPA voting patterns in the Congress in the context of the trade negotiating objectives. By setting the trade negotiating objectives, the Congress lays out important trade agenda that the Administration is expected to address ...
The Effect of Restructuring on Labor Reallocation and Productivity Growth: An Estimation for Korea
(Korea Institute for International Economic Policy, 2017-09-15)
Productivity is considered one of the most important factors for economic growth. Total productivity grows through technological progress or reallocation of resources. This paper analyses their contribution to economic growth for total economy and by ...
Empirical Assessment of Trade Engagements: Africa, China and the Maritime Belt and Road Initiative
(Korea Institute for International Economic Policy, 2017-12-19)
The Belt and Road Initiative (BRI) is the most important economic program initiated by a developing country, with the intent of enhancing trade and economic development across continents. While expectations persist that the initiative can contribute ...
Comparative Advantage of Value Added in Exports: The Role of Offshoring and Transaction Costs
(Korea Institute for International Economic Policy, 2016-10-10)
This study tests whether Ricardian comparative advantage is valid for value added in exports that does not include intermediate inputs imported from vari- ous industries in a number of countries. Using a panel data on valued added contents of bilateral ...
A New Measure of Inter-industry Distance and Its Application to the U.S. Regional Growth
(Korea Institute for International Economic Policy, 2016-12-30)
We propose a new measure of inter-industry ‘distance’. This is constructed à la Antras et al. (2012). While they measure the distance of an industry from its final use – what they call ‘downstreamness’ of an industry – we measure the distance between ...
Ecommerce and Firm Performance: Evidence from Korea
(Korea Institute for International Economic Policy, 2017-06-30)
Official estimates peg global business-to-business ecommerce at 15 trillion dollars and global business-to-consumer ecommerce at 1.2 trillion dollars in 2013 (UNCTAD 2015). When we turn to official estimates for Korea, it is easy to find that Korea’s ...