Gangwon province has suffered from low rate of regional economic growth, resulting in exodus of locally well educated young workforce and thus, losing vitality and sense of hope. The situation will aggravate unless one turns the tide upside down. Now it appears that the time has come for the...

Gangwon province has suffered from low rate of regional economic growth, resulting in exodus of locally well educated young workforce and thus, losing vitality and sense of hope. The situation will aggravate unless one turns the tide upside down. Now it appears that the time has come for the...

This paper examines the impact of direct income payments on productive efficiency of Korean rice farms, using farm-level cross sectional data in 2006. For representation of efficiency and its determinants, this paper uses a model that estimates the deviations of farms from a translog distance...

We consider a worker's job search problem in which firms arrive sequentially, observe the worker's unemployment duration, and conduct an interview to learn about her unobservable productivity. Firms engage in fully flexible information acquisition subject to a uniformly posterior-separable cost...

We empirically investigate the role of credit supply in fertility decisions. Using the U.S. banking deregulation in the 1980s and the 2007–2009 Great Recession as two independent laboratories for the study of credit supply shocks, we find that an increase in credit supply consistently implies...

We find evidence for the beta anomaly in mutual fund performance. This anomaly is not accounted for in the standard four-factor framework, nor by the addition of a BAB factor to the benchmark model. We identify the active component of alpha (i.e., active alpha) not attributable to the passive...