We examine the situation in which firms attempt to fully appropriate returns to their own R&D investment through the intellectual property protection mechanism. To do this, we set up three different games: asymmetric IPP, symmetric IPP, and non-IPP regimes. Each game consists of two stages: each...

This study conducts a comparative analysis of the monetary policy transmission channels and their effects in Korea and Japan using a sign restriction VAR model to determine whether a Japanese-style monetary policy can be implemented in Korea. Results indicate considerable differences between...