This study investigates three testable hypotheses of intra-industry trade., It begins by developing a theoretical, two country model., The model explicitly includes two goods: differentiated products and homogeneous goods., Then three empirical hypotheses are derived as follows., The share of...

type="main" <p>Using Korean firm-level data, this paper studies the effects of knowledge spillovers on knowledge production and productivity growth. Data from 213 Korean firms for the years 1985 to 2007 are used, and the number of patent applications is used as a proxy variable for knowledge. The...</p>

The question "Does the monetary model explain the exchange rate movement?" is re-examined. Using the simple monetary model, whether or not the exchange rates are cointegrated with the monetary model is tested. With data from seven countries during the recent float period, the panel approach...

This study investigates the relationship between stock price and earnings-per-share using Korean stock market data. The nonstationarity of the data has been managed. In particular, recently developed panel cointegration techniques are used, which are known to be more powerful than individual...

This paper uses a model with time-varying coefficients in order to track changes in Feldstein-Horioka saving-retention coefficients over time. To the extent that such coefficients measure international capital mobility, the main empirical findings are as follows. First, the stability of the...