South Korea raised the nation-wide minimum wage substantially over the past two years (2018 and 2019), and the minimum wage rose from 53 percent of the median wage to 63 percent. While the minimum wage has been increasing steadily over the decades, the rapid pace was largely unexpected and...

We study the impact of the boycott on Japanese products, initiated in July 2019, in the Korean beer market. First, we find that sales of Japanese beer decreased by 75 percent on average during the 14-month boycott period in the data. Second, the decrease in Japanese beer sales during the boycott...