South Korea became a net-provider of foreign direct investment in the late 1980s, and is now emerging as a major source of foreign direct investment in ASEAN and China. In general, the economic gains that the host country realizes from foreign direct investment are not a factor that the home...

I found that the University has experienced modest grade inflation over the past twelve years but the rate of inflation has been considerably low relative to other universities. In addition, I failed to find clear evidence of a widening interdepartmental gap, which is often referred to as being...

Static oligopoly theories disagree on whether mergers are profitable. The Cournot model says that many potential mergers would be unprofitable whereas the Bertrand model says that all mergers are profitable. We show that, for economically sensible parameter values, mergers are profitable for...

We show that the Gini coefficient is a simple linear transformation of the center of gravity of income distribution. The new derivation and inequality decomposition methods are applied to income data for Korea in order to analyze the distributional impact of the recent economic crisis. We also...

Using U.S. income data, we evaluate several functional forms for the Lorenz curve. On the basis of the goodness of fit, estimated income shares and Gini coefficients, the form proposed by Kakwani (1980) is found to be overall superior to the other forms.

Using quarterly data for urban worker-households in Korea, I investigate trends in income and consumption inequality since the eruption of the recent economic crisis. I find evidence of sharply increasing income inequality while consumption inequality does not show any apparent trend. There is...

This paper develops a simple general equilibrium model with signalling in the presence of adverse selection in the financial market and with occupational choice in the labor market, in order to examine the efficiency cost and incidence of an entrepreneurial profit tax. The model yields an...

A signalling model is developed to investigate the consequences of corporate income taxation in the presence of adverse selection in the equity market. The model obtains a unique, informationally-constrained efficient equilibrium in which a better quality firm retains more inside-equity, and, as...