We develop a new identification approach based on the regression of consumption on output to identify a structural break in business cycles. Using this method, we find that a structural change in the trend and cycle in Korea occurred in 1993. To explain these, we estimate the parameters of the...

On the basis of regression of consumption on output, we develop a new approach to identify a structural break in business cycles. Using this approach, we find that a structural change in the trend and cycle in Korea occurred in 1993 and that the business cycles in Korea started to show the...

Rapidly growing developing economies have exported heavily and run current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively large in developing countries and behind some of this dramatic growth. This paper explores if learning-by-exporting helps...

Rapidly growing developing economies have exported heavily and run current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively large in developing countries and behind some of this dramatic growth. This paper explores if learning-by-exporting helps...

Rapidly growing developing economies are characterized by heavy exportation and current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively important in developing countries and behind some of this dramatic growth. This paper explores if...