Over the past few decades, the skilled–unskilled hours differential for U.S. men increased when the skill premium rose sharply, in contrast with dominant income effects. Based on PSID data, we show that over the 1967–2000 period, skilled men experienced a three times larger increase in wage...

We develop a new identification approach based on the regression of consumption on output to identify a structural break in business cycles. Using this method, we find that a structural change in the trend and cycle in Korea occurred in 1993. To explain these, we estimate the parameters of the...

On the basis of regression of consumption on output, we develop a new approach to identify a structural break in business cycles. Using this approach, we find that a structural change in the trend and cycle in Korea occurred in 1993 and that the business cycles in Korea started to show the...

Korean Abstract: 본고는 비관측 요인 모형을 통해 1981년부터 2019년까지 한국의 1인당 실질 GDP 추세 성장률을 추정하고 성장회계를 통해 추세 성장률 하락의 원인을 분석한다. 1인당 실질 GDP 추세 성장률은 외환위기를 극복하던...

Rapidly growing developing economies are characterized by heavy exportation and current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively important in developing countries and behind some of this dramatic growth. This paper explores if...

Korean Abstract: 본 연구에서는 2001년부터 2018년까지 한국의 노동생산성 증가율을 자본 심화, 인적자본 증가, 그리고 총요소생산성 향상으로 분해하였다. 특히 인적자본 증가는 교육수준의 확대에 따른 노동 구성의 변화와...