In this paper, we analyze how a change in the labeling (guideline) regarding exposure to air pollution affects the consumption of respiratory medicine. In 2018, the Government of South Korea changed air pollution warning standards to a level that was more severe than it was in reality and as...

This paper explores how perceptional changes in exposure to air pollution impact the values of real assets in a housing market. Given a revised air pollution standard due to an environmental policy shock in South Korea, the existing indicators show air quality generally gets lower than before,...