International comparisons of economic understanding generally require a translation of a standardized test written in English into another language. Test results can differ based on how researchers translate the English written exam into one in their own language. To confirm this hypothesis, two...

This paper presents a generalized two-step maximum likelihood estimation method for partially identified vector autoregressive models. We suggest a likelihood ratio test for over-identification in a sub-system and derive the asymptotics for impulse responses and forecast-error variance...

The authors describe key aspects of precollege and undergraduate economic education in Korea. They show that precollege students seem to have low economics literacy due to problems with the curriculum and insufficient training of teachers. At the undergraduate level, they show that economics...