**Below is a description of the paper and not the actual abstract.** We set up a general equilibrium model of a two-sector economy in which movement costs across sectors play a crucial role in explaining the cyclical fluctuations of employment, even though there is little labor reallocation...

This paper revisits the impact of population aging on economic growth. In order to understand the impact of population aging on economic growth, it is important to consider the changes in the entire age distribution of demography. Our empirical analysis indicates that a change in age...

Inter-sectoral shocks require resource reallocation across sectors, while intra-sectoral shocks require resource reallocation within sectors. A crucial difference between these shocks is that the former requires much higher adjustment costs than the latter. Using accounting data to calculate...

Technological progress may be less beneficial for older workers than younger workers. In this paper, we empirically examine the impact of technological change on the wage share of older workers. More specifically, we look at five different types of technological advancement using data from 30...

While there are growing concerns about population aging, some studies explore the possibility that population aging can give rise to a silver dividend which contributes to economic growth [AEIR (2019)]. Whereas the demographic dividend refers to the increase of the working-age population, the...

Korean Abstract: 한국경제에서 가장 큰 리스크 요인은 급증한 가계부채이다. 본 연구는 민간회사인 나이스 신용정보의 자료에 기초한 한국은행의 가계부채DB를 빅데이터 분석기법을 이용하여 분석함 으로써 거시적인 가계부실...

While there are growing concerns about population aging, some studies explore the possibility that population aging can give rise to a silver dividend that contributes to economic growth (ADB 2019). While the demographic dividend refers to the increase of the working-age population, the silver...

This paper reviews the evidence on the sources of business cycles within and across countries and the implications for the importance of borders in business cycles. A simple econometric model is presented and applied to within-U.S. and cross-country data in order to provide a framework for...

Regionalism is taking two forms. It is occurring firstly through free trade arrangements and secondly through monetary arrangements. In this paper, we highlight the issues related to the reversal of sequence between trade integration (free trade agreement) and monetary integration (a monetary...