As private education has become widespread over the last decade in South Korea, the education gap among regions and social classes has noticeably widened. The recent global financial crisis exacerbates the problem as the rich continue to utilize more private education, while the poor utilize it...

We develop a dynamic model that can explain identity switching activities among a stereotyped population, such as passing and selective out-migration, based on the group reputation model developed in Kim and Loury (2008). The more talented members of the population, who gain more by separating...

Economists have developed theoretical models identifying self-fulfilling expectations as an important source of statistical discrimination in labor markets (Arrow, 1973). The static models dominating the literature of statistical discrimination, however, may leave the false impression that a bad...

Economists have developed theoretical models identifying self-fulfilling expectations as an important source of statistical discrimination practices in labor markets (Arrow, 1973). The static models dominating the literature of statistical discrimination, however, may leave the false impression...