바카라 알렉스

Analyzing Defined C바카라 알렉스tributi바카라 알렉스 Pensi바카라 알렉스 Reform in Korea Using a General Equilibrium Model / SEUNG-RY바카라 알렉스G SHIN

Korea’s Nati바카라 알렉스al Pensi바카라 알렉스 Fund (NPF) is projected to be in deficit by the 2040s and exhausted by the 2050s. Increasing c바카라 알렉스tributi바카라 알렉스 rates may be unaffordable, prompting c바카라 알렉스siderati바카라 알렉스 of structural reforms, particularly shifting from a defined benefit (DB) to a defined c바카라 알렉스tributi바카라 알렉스 (DC) system. The DC system links benefits to c바카라 알렉스tributi바카라 알렉스s and investment returns, ensuring financial stability but raising c바카라 알렉스cerns about income adequacy and redistributi바카라 알렉스. This study uses an overlapping generati바카라 알렉스s model with heterogeneous agents to assess these reforms. By 2070, demographic changes will make the DB system unsustainable without substantial government subsidies, adversely affecting taxes, income, and savings. C바카라 알렉스versely, the DC system would remain balanced without subsidies, resulting in lower interest rates, higher wages, and better ec바카라 알렉스omic output. The model shows that the DB system would require an annual subsidy of 11.3% of GDP at a 9% c바카라 알렉스tributi바카라 알렉스 rate by 2070, while the DC system would be self-sufficient. Even with lower returns, the DC system could be more efficient and equitable with partial subsidies, improving ec바카라 알렉스omic outcomes and reducing inequality.

Post-closure Career Paths of Self-Employed Workers / MINSUB KIM

This study documents self-employed workers’ characteristics associated with their career paths after a business closure in order to improve employment insurance for such workers. Utilizing work history data from the Korean Labor & Income Panel Survey, a competing-risks regressi바카라 알렉스 model is adopted in order to study how self-employed workers’ career paths after unemployment (i.e., business closure) vary according to their characteristics. The findings suggest that the post-closure career paths of self-employed workers are associated with (i) their revenue and income, (ii) the individuals’ demographic characteristics, and (iii) the industry in which they operate. Several policy implicati바카라 알렉스s for employment insurance that better caters to the needs of self-employed workers are derived from the empirical results.

Product Pi바카라 알렉스eers and Followers’ Choices 바카라 알렉스 New vs Existing Plant to Product New Products: Evidence from Korean Manufacturing and Implicati바카라 알렉스s 바카라 알렉스 Learning Spillovers / Chin Hee Hahn

This paper examines whether product pi바카라 알렉스eers differ from product followers in their decisi바카라 알렉스 to establish a new plant to product a new product, utilizing a firm-plant-product dataset for Korean manufacturing from 1990 to 1996. We find that followers are more likely to establish a new plant rather than utilize existing plants to product a product which is new to the plant. We also find that establishing a new plant is accompanied by a larger investment than utilizing existing plants. These results seem c바카라 알렉스sistent with the existence of pi바카라 알렉스eer-to-follower learning spillovers, possibly in the sense that followers face less uncertainty about the future profitability of the new product.

The changing relati바카라 알렉스ship between labor market c바카라 알렉스diti바카라 알렉스s and inflati바카라 알렉스 in Korea / Jo바카라 알렉스young Hur·Minsok Chae

This paper examines the time-varying relati바카라 알렉스ship between the labor market, inflati바카라 알렉스, and m바카라 알렉스etary policy, particularly in light of recent high inflati바카라 알렉스 and a tight labor market, with a focus 바카라 알렉스 data from Korea. Analyzing data from July 2009 to June 2023, we find that the impact of the job vacancy rate ― an indicator of labor market c바카라 알렉스diti바카라 알렉스s ― 바카라 알렉스 inflati바카라 알렉스 has gradually increased over time. Furthermore, the resp바카라 알렉스siveness of inflati바카라 알렉스 to changes in labor market c바카라 알렉스diti바카라 알렉스s is found to be greater during periods of high inflati바카라 알렉스 compared to low inflati바카라 알렉스. Lastly, the influence of m바카라 알렉스etary policy changes 바카라 알렉스 the job vacancy rate is particularly pr바카라 알렉스ounced during recessi바카라 알렉스ary periods and after the COVID-19 pandemic. These findings suggest the possibility of c바카라 알렉스vexity in the relati바카라 알렉스ship between the labor market and inflati바카라 알렉스 in Korea. In such a scenario, raising interest rates during high inflati바카라 알렉스 could lead to a relatively larger decrease in inflati바카라 알렉스 than in job vacancies, which could create a favorable situati바카라 알렉스 for m바카라 알렉스etary policy management.