Korean Abstract: 금융위기 이후 미국 경제는 여타 선진국 대비 빠른 속도로 회복되고 있어 그 원인에 대해 관심이 쏠리고 있다. 반면 이러한 회복세에도 불구하고 미국 내에서는 구조적 장기침체(secular stagnation)에 대한 우려로...

■ The disinflation in recent years has been significantly influenced by the changes in external conditions and sagging domestic aggregate demand. For 2017, inflation is projected to remain at a low level. ○ An empirical analysis found that fluctuations in consumer prices are significantly...

Korean Abstract:■ 최근의 물가상승률 하락은 국내 총수요의 부진과 함께 대외 여건 변화에도 상당 부분 영향을 받은 것으로 추정되는 한편, 내년에도 소비자물가는 낮은 상승세를 지속할 전망 ○ 실증분석 결과, 소비자물가의...

링크를 클릭하시면, 이 보고서의 한국어 버전을 보실 수 있습니다.'http://ssrn.com/abstract=2949658' http://ssrn.com/abstract=2949658.■ The discrepancies in the real purchasing power of different income quintiles is due to the varying growths in nominal income created...

The English version of this paper can be found at 'http://ssrn.com/abstract=2949659' http://ssrn.com/abstract=2949659Korean Abstract:■ 소득분위별 실질구매력의 격차는 금융위기 이전의 명목소득 증가율 차이에 기인하며, 소비자물가는 소득수준과...

The objective of this paper is to suggest a new predictive system for international trade, based on an unobserved component model. We employ the predictive system developed by Pastor and Stambaugh (2009), which is unlike other conventional predictive regression models. This paper derives an...

The main purpose of this paper is to scrutinize the time-varying relative importance of the permanent and the transitory shocks to the U.S. real GDP. After accounting for the cointegration relation between real GDP, consumption, and investment, we find that i) the real permanent shock played a...

This study analyzes global inflation synchronization and derives policy implications for the Korean economy. Unlike previous studies that assume a single global inflation factor, this study investigates if inflation in Korea can be explained further by other global inflation factors. Our...