The government of the Republic of Korea has become concerned with reducing cigarette consumption, which historically has been very prevalent. This study contributes to the debate over cigarette policies in South Korea, with implications for other Asian countries with similar economic and...

"In this paper, we investigate the sources of the decline in U.S. output volatility. We estimate structural vector autoregression models before and after the structural break date of the first quarter of 1984. We find that the magnitude of both supply and demand shocks in the pre-1984 period is...