Substantial evidence exists that economic inequality in Asia has been growing, but the dimensions of this inequality and its growth are far less clear. This paper evaluates inequality in household incomes per capita across various demographic groups in income surveys from six middle- and...

Social capital is both an input and an output of individuals' economic choices, but relatively little is known about social capital investment, particularly in individuals' old age. With a premise that SC is an individual-level concept in which individuals purposely invest, we estimate elderly...

This study explores the organization of the Korean labor market, systemic faults in it leading to undesirable outcomes and their determinants, and consequences for workers and employers. Long-term implications for the arrangement and cohesion of society at large are discussed. The study has...

Nominal and real macroeconomic variables are traditionally linked by the expectational Phillips curve. There is evidence that changes in employment and output result from unanticipated changes in money stock and inflation. Unfortunately, expectations about money stock and prices are not...

Most Korean employers screen extensively job applicants' personal backgrounds. Because this includes applicants' protected characteristics, and is not directly related to job requirements, the practice may yield discrimination and inefficiency in recruitment. This study surveys companies'...

Existing literature has identified the effects of competition and firms' ownership and management structure on firms' decisions to invest in innovation. We extend this literature by examining the role of market-demand uncertainty on the relationship between firm ownership, management structure...

Korean employers notoriously practice seniority-based personnel management, rather than one prioritizing workers’ skills or performance, and this has changed only slowly amid the evolving business landscape and advancing labor standards. This study contributes to understanding this phenomenon...