This book examines welfare effects of gender-related inequalities in Korean households and labor markets. It uses subjective well-being data to show that reductions of excessive levels of working hours did improve family well-being in the past decade. Moreover, benefits from major life events...

The effect of marriage on productivity and wages has been long debated. A difficulty in estimating the effect of marriage on productivity is the lack of data that contain measures of both marital status and exogenous productivity. We fill this gap by using a sample of professional athletes from...

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...