This paper reviews how the changing financial environment in Korea has affected the conduct of monetary policy and … examines the extent to which the Bank of Korea now uses the short-term interest rate rather than money aggregates as an … operating target. Empirical results from estimation of monetary reaction functions suggest that the Bank of Korea has been …

This paper uses an event-study methodology to examine the wealth effects of Korea's recent move toward financial market …

debt or tax (seigniorage) finance has no substantial effect on inflation. This paper tests this hypothesis for Korea by …

price data from Hong Kong, Japan, and Korea. It is shown that the welfare costs of borrowing constraints are positively … constrained sector is 50 percent and residual demand elasticity is 2.0, then costs range from 9 percent of GDP in Korea, where …