By rejecting government's bailout requests, the Bank of Japan knowingly caused a banking panic and cabinet change in 1927. The central bank was neither acting as a political agent, nor trying to deal with moral hazards. The refusal was to sustain monetary contraction aimed at lifiting gold...

Korekiyo Takahashi is remembered as a wise finance minister saving Japan from the Great Depression, but the role of his policy remains to be rigorously measured, with proper control for other forces also driving the recovery. Vector autoregression analysis of previously unexploited monthly data...

To investigate the current status of Korea's income distribution, we decompose its income inequality index. Next, we analyze the effects of economic openness on income distribution with two different datasets: international country-level data and Korean industry-level data. Based on the analysis...

Korean Abstract: 본 연구에서는 한국의 분배구조에 대한 이해를 높이기 위하여 국내 소득불평등 현황과 원인을 정리하고 분배구조를 다양한 지표를 이용하여 분배구조를 측정하고 분해하였다. 또한 대외개방이 분배구조에...