In this study, we investigate the impact of political uncertainty on Bitcoin. Introducing the U.S. federal election cycle as a proxy for political uncertainty, we find that (i) an increase in political uncertainty leads to a decrease in Bitcoin return, (ii) political uncertainty has the...

We study the identification of policy shocks in Bayesian proxy VARs for the case that the instrument consists of sparse qualitative observations indicating the signs of certain shocks. We propose two identification schemes, i.e. linear discriminant analysis and a non-parametric sign concordance...

Purpose – The purpose of this study was to investigate market power of soybeans exported by the United States to Korea. Particularly, this paper considered dichotomous characteristics of genetically modified (GM) soybeans and non-GM soybeans and conducted empirical analysis of these two...

Purpose – This study deals with a strategic plan for meeting the value added criteria effectively, which is one of the methods of determining origin used in preferential trade such as FTA. Automobile products, one of the major Korean export items, were selected to give a practical use against...

Total cost estimates for crime in the United States are both out-of-date and incomplete.We estimated incidence and costs of personal crimes (both violent and non-violent) and propertycrimes in 2017. Incidence came from national arrest data, multi-state estimates of police-reportedcrimes per...

The first-half of the 20th century is characterized by mass migration from Europe to the US and rapid technological progress. Exploiting national immigration policy changes together with historical settlement patterns of immigrants' across US counties, I estimate the effect of skilled...

Multicollinearity is one of the major methodological problems in the study of the guns‐growth trade-off. In this paper, we use ridge regression to separate the effects of individual variables influencing economic growth in the United States. Ridge is not a new method, but to the best of our...

Post 2008, the market-to-book ratios of European and US banks have diverged markedly. We use panel regressions to investigate the determinants of the M/B ratios of 112 European and US banks. We show that the underperformance of European banks is mainly driven by non-performing loans and by the...

We use spatial panel data model analysis to study the international transmission of U.S. monetary policy shocks in the global equity and bond markets. Through this analysis, we decompose the overall effect of such a shock into 1) direct effects, 2) higher-order network effects transmitted...