This paper calculates the economic benefits and losses of Korea and the United States that may be explicitly attributed to the creation, diversion and contraction of trade flows between them before and after the enforcement of the bilateral free trade agreement (KORUS). This is the first...

Unlike most countries, Korea did not implement a lockdown in its battle against COVID-19, instead successfully relying on testing and contact tracing. Only one region, Daegu-Gyeongbuk (DG), had a significant number of infections, traced to a religious sect. This allows us to estimate the causal...