This paper investigates the impact of the effective minimum wage, defined as the log difference between the minimum and the median wages, on wage inequalities in the OECD countries. Unlike the previous studies that focus on single countries in which the minimum wage has no cross-sectional...

Background: Reduction of under-five year mortality rate by two-thirds by 2015 compared to 1990 level has been adopted as Target 4A in the Millennium Development Goals. Since infant deaths account for over seventy percents of under-five year mortality, the same two-thirds reduction Target of...

This paper examines the persistent properties of 12 sectoral relative prices between Korea and Japan obtained following the Classification of Individual Consumption according to Purpose (COICOP) over the period of 1985-2016. Applying a new econometric method developed by Pesaran which controls...