Even though graduate students are critical for carrying out research, they have not been treated as important in the existing literature on research productivity. Accordingly, this paper focuses on whether the number of graduate students has a significant impact on their supervisors' research...

This paper examines the effects of major funding projects for graduate education in Korea, specifically the BK21 and the WCU programs, on the research productivity of professors and young researchers. We apply the standard DID method, which compares the increase in research outputs as measured...

A central puzzle in international finance is that real exchange rates are volatile and, in stark contradiction to effcient risk-sharing, negatively correlated with cross-country consumption ratios. This paper shows that incomplete asset markets and a low price elasticity of tradables can account...