This paper studies work flow dynamics in Korea from 2000 to 2011 by using data from Economically Active Population Survey (EAPS). We examine the size and cyclicality of both the gross work flows and the associated transition rates between the labor market states of employment, unemployment, and...

During the global financial turmoil in 2007-2008, deviation from the covered interest parity (CIP) between the Korean won and US dollar through the foreign exchange swap has escalated in its magnitude beyond 1,000bp in November 2008, and it still persists around 100bp level. In this paper, we...

This paper discusses Korea's post-crisis monetary policy, focusing on two questions: (i) whether the high interest rate policy right after the outbreak of crisis was effective on exchange rate stabilization and (ii) whether the post-crisis interest rate policy can be justified in light of the...

This paper talks about the 'art and science' of nuancing conflict situations. The word 'art' is used to designate non-scientific factors, and the term 'art and science' is employed to introduce the use of non-economic factors, for example diplomatic know-how and negotiation skill, that are...

This paper examines the distributional effect of loosening liquidity constraints on consumption expenditures, asset holdings and debts using two years of cross-section data sets (1996 and 2001). The data sets of our concern are unique in that they enable us to evaluate the consequences of the...

A Corporate Governance Perspective on Public Enterprises In its broad sense, corporate governance may be defined as the entire set of institutions, both inside and outside the firm, through which the objectives of the company are set and executed and the performance of the firm is monitored....