Vol. XVI,  No. 2,   April, 2000

Editor: Dr. Sunwoong Kim
Edited & Designed for the Web by Hae-shin Hwang


 
CONTENTS
Seoul Convention Call for Papers Job Openings Member News


 
Seoul Convention
The Ninth International Economics Convention
August 18-19, 2000
Seoul, Korea

The Final Program for the Seoul Convention can be seen in a pdf format.
 

The preparation for 2000 KEA/KAEA Conference in Seoul is going well. Members of KAEA is going to present the total of 33 papers in the conference. The papers are selected through a double-blinded refereeing process in which each paper has two referees. Executive Committee thanks the referees for their effort. At this point, minimum travel support for each paper presenter has been determined at $400. The amount can be increased if the forthcoming fund-raising effort is more successful. Please let the Executive Committee know potential donors. Preliminary program is posted in KAEA web pages, and the more detailed program will be available soon. We will keep you posted.

The KAEA Executive Committee has chosen the following 33 papers for the Seoul Convention. There were initially 41 submissions; three withdrew in the different stages.

There are 7 ABD's, 10 assistant professors, 2 associate professors, 11 professors and 3 research economists, not counting co-authors.

1. "Inference and Forecast of Exchange Rates via Generalized Spectrum and Nonlinear Time Series Models," Tae-Hwy Lee (Associate Professor, University of California, Riverside) and Yongmiao Hong

2. "Dynamic Pricing in the Presence of Antidumping Policy: Theory and Evidence," Jee-Hyeong Park (Assistant Professor, Wayne State University) and Bruce A. Blonigen

3. "An Estimable General Equilibrium Model of Schooling and Working Decisions: The Impact of Cohort Size on Economic Outcomes," Donghoon Lee (ABD, University of Pennsylvania)

4. "Patience, Persistence and Properties of Two-Country Incomplete Market Models," Jinill Kim (Assistant Professor, University of Virginia), Sunghyun Henry Kim, and Andrew Levin

5. "Labor Force Participation and Equilibrium Worker Flows," Sun-Bin Kim (ABD, University of Pennsylvania)

6. "Does International Trade Synchronize Business Cycles?'' Noh-Sun Kwark (Assistant Professor, Texas A&M University), Heather M. Anderson, Farshid Vahid

7. "Equivalence of Continuous Trading System with Costly Information," Hae-shin Hwang ( Professor, Texas A&M University)

8. "Technological Comparative Advantage and Behavior of Factor Prices with Trade," Kwan Koo Yun (Professor, SUNY-Albany)

9. "Symmetric Tragedies: Commons and Anticommons," Yong J. Yoon (Senior Research Scholar, George Mason University) and James M. Buchanan

10. "The Rationality of Stock Markets In Response To Economic and Financial Shocks," Bong-Soo Lee (Professor, University of Houston)

11. "Understanding the Asian contagion: an international business cycle perspective," Sunghyun Kim, (Assistant Professor, Brandeis University), M. Ayhan Kose, and Michael G. Plummer

12. "The Drawbacks of Joint R&D," Jeong W. Byun (ABD, University of Pennsylvania)

13. "Labor Unions and Employment Adjustments in Korea," Young-Kyu Moh (ABD, Ohio State University) and Ju-Ho Lee

14. "Production Inefficiency and Factor Hoarding in OECD Manufacturing Industries," In-Bong Kang (Assistant Professor, SUNY-Binghamton) and Ronald Britto

15. "Games Implementing the Stable Rule of Marriage Problems in Strong Nash Equilibria," Sang-Chul Suh (Professor, University of Windsor)

16. "Single workers, married couples, and Social Security Disability Insurance," Cheolsung Park (Assistant Professor, National University of Singapore)

17. "A re-examination of the predictability of the yield spread for real economic activity," Dong Heon Kim (ABD, University of California, San Diego) and James D. Hamilton

18. "A Common Currency Peg in East Asia: Perspectives from Western Europe," Yoonbai Kim ( Associate Profesor, University of Kentucky) and Hwee Kwan Chow

19. "Financial Panic and Exchange Rate Overshooting during the Currency Crisis," Soyoung Kim (Assistant Professor, University of Illinois at Urbana-Champaign) and Sunghyun H. Kim

20. "Structural Error Correction Models for Real Exchange Rates of Traded Goods: A System Method," Jaebeom Kim (ABD, Ohio State University)

21. "Technology Differential, Learning, and Adjustment Costs in Dynamic Stackelberg Competition," Kwang Soo Cheong (Assistant Professor, University of Hawaii at Manoa) and Kenneth Judd

22. "Real Exchange Rate and Trade Balance-Empirical Results for Asian Countries," Kilman Shin (Professor, Ferris State University)

23. "The Boundaries of the Firm: Is the Korean Chaebol Too Big or Too Diversified?" Hong Youl Park (Professor, Saginaw Valley State University) and Sung Hahn Suh, Gun Chul Shin

24. "The Test for Stability: An Application to the Korea Money Demand," Sungwon Shin (ABD, University of Wisconsin - Milwaukee)

25. "Testing The Efficiency of the Canadian Foreign Exchange Market," Soo-Bin Park ( Professor, Carleton University)

26. "Aspects of Earning Dynamics in Korea: Income Inequality and Mobility," Yong-seong Kim (Institute for Social Research, University of Michigan)

27. "Foreign Capital, Exports and Economic Growth in China: A Cross-Provincial Analysis," Jong H. Park (Professor, Kennesaw State University) and Penelope B. Prime

28. "Some Thoughts on Antidumping Laws with Special Reference to Korea," Robert W. McGee (Professor, Seton Hall University) and Yeomin Yoon (Seton Hall University)

29. "Financial Sector Corporate Governance and Financial Crises," Jong Park (Economist, Federal Reserve Board)

30. "Money, Real Income, and Prices: Evidence from the New Monetary Aggregates," Benjamin J.C. Kim (Associate Professor, University of Nebraska-Lincoln), Sadullah Celik and Noor A. Ghazali

31. "Assigning Spectrum Rights for IMT-2000 in Korea: Has the Time for Auction Come?" Jay Pil Choi (Professor, Michigan State University

32. "The Analysis of Foreign Exchange Rate Movements under the Parity Conditions of Goods, Bonds, and Equities," Heejoon Kang (Professor, Indiana University, Bloomington)

33. "The Rigidity and the Transferability in the U.S. Labor Market of The Information Technology: the Lesson," Soon Paik (U.S. Department of Labor/BLS)


 
Call For Papers
2001 ASSA meetings, New Orleans, January 5-7

The 2001 convention of the Allied Social Science Association will be held in New Orleans, Lousiana, January 5-7, 2000. The Korea-America Economic Association (KAEA) will sponsor four (4) sessions at this convention including one joint session with American Economic Association. KAEA members are invited to submit papers/proposals for presentation. The KAEA is interested in a broad range of topics, and both empirical and theoretical papers are welcome. However, the KAEA is particularly interested in papers that address issues relating to the economic issues in Korean economy from various perspectives. Extra effort will be made to include all of those who submit papers/proposals on the program by the organizing and review committee, consisting of: Suchan Chae (Rice University), Yoonbai Kim (University of Kentucky), and Sunwoong Kim (Chair, Univ. of Wisconsin - Milwaukee).

Guidelines for Paper Submission: Please send an extended abstract (or a complete paper if possible) with a cover page containing the names, affiliations, phone number, e-mail and postal addresses for all authors to:

Professor Sunwoong Kim
kim@uwm.edu
(414)229-6924
Department of Economics
University of Wisconsin - Milwaukee
P.O. Box 413
Milwuakee, WI 53021


 
Job Openings

New Item(Posted on August 7, 2000)

Contract Professors and Post-Doctoral Fellows
Department of Economics, Korea University

The BK21 Program in the Department of Economics, Korea University, has openings for 2~3 contract professors and 2~3 post doctoral fellows. Applications are welcomed from young professionals with outstanding records in academic research. The selection will be made based on research potential. The BK (Brain Korea) 21 Education and Research Program is financially supported by the Korean Ministry of Education.

  • Areas: International trade and finance, Macroeconomics, Information and telecommunication, Environment and labor, and Institutional economics and Korean economy.
  • Application period:  by September 30, 2000
  • Required documents: (1) curriculum vitae (photo attached), (2) list of publications, (3) research proposal (A4, 2 sheets), including the proposed period of employment, (4) a copy of graduation certificate and academic transcript (PhD), and (5) one reference.

  • Qualification: Contract professors should have research experience of more than two years. The appointees must be able to conduct research as well as teaching in English. Post-doctoral fellows include those who can obtain Ph.Ds during the fall semester, 2000.

  • Salaries will be around 28 million Won per year for a contract professor and around 18 million Won per year for a postdoctoral fellow, depending upon research experience. The initial contract will run for a minimum of six months up to one year, and thereafter an extension up to one year may be considered.
  • Applications need be sent to

Prof. Nam, Chong-Hyun, Department of Economics, Korea University, 1 Anam-Dong, Sungbuk-Ku, Seoul, 136-701, Korea.

(For further information, please contact:  Prof. Nam, Chong-Hyun (tel) 82-2-3290-2207, (fax) 82-2-927-4975, (e-mail) chnam@mail.korea.ac.kr)

The details of the BK21 Program are available on the web site http://www.korea.ac.kr/~konomics.


 
Korea Institute for International Economic Policy (KIEP)
(Posted on July 19, 2000)

The Korea Institute for International Economic Policy (KIEP), founded in 1990 by the Ministry of Finance and Economy, is an international economic research institute with the responsibility of advising the government on planning and policy, as well as keeping international and domestic participants in the Korean economy abreast of current Korean economic policy. We are currently looking for candidates for the position of RESEARCH FELLOW. Qualified candidates will have a Ph.D. in economics, with research experience in the fields of Eastern Europe (including countries of former Soviet Union) economics, trade and international relations. We will accept resumes with photograph, Ph.D. dissertation and cover letters until July 31, 2000. Please send to:

Department of Business Planning
Korea Institute for International Economic Policy
300-4 Yomgok-Dong, Seocho-Gu, Seoul 137-747, Korea
(KIEP homepage: http://www.kiep.go.kr)

 

Korea Institute for International Economic Policy (KIEP)
(Posted on July 12, 2000)

The Korea Institute for International Economic Policy (KIEP), founded in 1990 by the Ministry of Finance and Economy, is an international economic research institute with the responsibility of advising the government on planning and policy, as well as keeping international and domestic participants in the Korean economy abreast of current Korean economic policy. We are currently looking for candidates for the position of RESEARCH FELLOW. Qualified candidates will have a Ph.D. in economics, with research experience in the fields of Southeast and South Asia economics, trade and international relations. We will accept resumes with photograph, Ph.D. dissertation and cover letters until July 29, 2000. Please send to:

Department of Business Planning
Korea Institute for International Economic Policy
300-4 Yomgok-Dong, Seocho-Gu, Seoul 137-747, Korea
(KIEP homepage: http://www.kiep.go.kr)

 

Korea Institute for International Economic Policy (KIEP)
(Posted on June 1, 2000)

The Korea Institute for International Economic Policy (KIEP), founded in 1990 by the Ministry of Finance and Economy, is an international economic research institute with the responsibility of advising the government on planning and policy, as well as keeping international and domestic participants in the Korean economy abreast of current Korean economic policy. We are currently looking for candidates for the position of RESEARCH FELLOW. Qualified candidates will have a Ph.D. in economics, with research experience in the fields of Japanese economics, trade and international relations. We will accept resumes with photograph, Ph.D. dissertation and cover letters until June 30, 2000. Please send to:

Department of Business Planning
Korea Institute for International Economic Policy
300-4 Yomgok-Dong, Seocho-Gu, Seoul 137-747, Korea
(KIEP homepage: http://www.kiep.go.kr)

 

Ewha Womens University

Department of Economics of Ewha Womans University in Seoul is searching for a new full time faculty member in the field of microeconomics. Scholars of either theoretical or applied orientation with a good record of research and professional or teaching experience are welcome to apply. For more information, consult the announcement in the Ewha homepage http://www.ewha.ac.kr, or Ewha job announcement page http://www.ewha.ac.kr/news/hot425.htm, or contact Prof. Dosung Chung at dchung@mm.ewha.ac.kr.
 

University of Seoul

University of Seoul which is a university founded by Seoul Metropolitan Government has an immediate opening for a visiting economics professor. Since last December Division of Economics in University of Seoul received a 3-years research and education grant called "Brain Korea 21 Project" from Korean Government. The purpose of the project is to encourage research on a chosen topic by faculty members and graduate students in the selected universities. We proposed to perform researches on economic growth of Korean cities. Our research team is composed of 4 faculty members including me as a project director and eight graduate students. Applicants should have a Ph.D. in economics and extensive research experience specializing in empirical research on urban or regional economics or applied microeconomics. This might be an ideal position for an established professor who is on a sabbatical leave. But qualified junior economists are also welcome to apply. Main duty of this visiting scholar is to conduct academic or applied researches on economic growth of Korean cities which are publishable in internationally reputable journals. The researches should be performed jointly with faculty members and graduate students who are members of "Brain Korea 21 Project". The scholar should also serve as a committee member of M. A. or Ph. D. theses committees for students who will write their theses in English. The salary is 2,000,000 won per month. Term of appointment is one year (12 months), but it is possible to be renewed once. Applicants should mail, fax or e-mail a cover letter and resume, plus contact information for 3 references. The cover letter should indicate the date of availability for work in Seoul. CONTACT: Professor Bun Song Lee, Division of Economics, University of Seoul, 90 Jeonnong-dong, Dongdaemoon-ku, Seoul 130-743, Korea, Fax: 822-2215-2719, e-mail: bslee@uoscc.uos.ac.kr.
 

Korea University, the Department of Economics

The Department of Economics, Korea University is seeking to appoint 2~3 contract professors and 3~4 post-doctoral fellows from autumn 2000 or spring 2001 and invites applications from prospective candidates with outstanding records in academic research. This programme is financially supported by the BK (Brain Korea) 21 project.

  • Areas: International trade and finance, macroeconomics, information and telecommunication, environment and labor
  • Application period:  April 24 – May 24, 2000
  • Contact:  Prof. Nam, Chong-Hyun (tel) 82-2-3290-2207, (fax) 82-2-927-4975, (e-mail) chnam@kuccnx.korea.ac.kr, (address) Department of Economics, Korea University, 1 Anam-Dong, Sungbuk-Ku, Seoul, 136-701, Korea
  • Required documents: (1) curriculum vitae (photo attached), (2) list of publications, (3) research proposal (A4, 2 sheets), including the proposed period of employment, (4) a copy of graduation certificate and academic transcript (PhD), and (5) one reference.
  • Qualification: Candidates for contract professorship should have research experience of more than two years and must be able to conduct research as well as teaching in English. Candidates for post-doctoral fellowship should have received Ph.D. by the beginning of the proposed period of employment.
  • Salaries will be between 24million and 30million Won per year for a contract professor and 15million-18million Won per year for a post-doctoral fellow. The details are also available on the web site of the BK21 project of the Department http://www.korea.ac.kr/~konomics. The web site of the Department of Economics, Korea University is http://econweb.korea.ac.kr.


 
Member News

Congratulations! Yeon-Koo Che has been promoted to the rank of full professor at the Department of Economics, University of Wisconsin-Madison. And Tae-Hwy Lee has been promoted to the rank of associate professor with tenure at the Department of Economics, University of California-Riverside.

Jongmoo Jay Choi has been named Laura H. Carnell Professor of Finance and International Business at Temple University. In addition to working as a section editor for Journal of Economics and Business as well as a member of five editorial boards, he is an editor of a new JAI/Elsevier book series, International Finance Review. The Volume 1 on Asian Financial Crisis (volume editor, J. Jay Choi) is due out in 2000. His earlier edited volume with Greenwood is already out: Emerging Capital Markets: Financial and Investment Issues, ed., J. Jay Choi and John Doukas, Quorum Books: Greenwood Publishing, 1998 (www.greenwood.com) The Call for Volume 2 on European monetary union and capital markets is currently out. Three copies of the paper on any aspects of the European monetary/financial integration should be mailed to either J. Jay Choi or Jeff Wrase of Philadelphia Fed by September 1, 2000.


 
KAEA - KIF (Korea Institute of Finance) Joint Conference


New Monetary Order : Capital Liberalization and  E-Commerce


   13:30-13:40  Opening Remarks
                   Dr. Hae Wang Chung
                   President, Korea Institute of Finance
   13:40-13:50  Welcoming Remarks
                   Prof. Bong Joon Yoon  
                   President, Korea-America Economic Association
   13:50-14:10  Keynote Speech
                   Kun Kyong Lee  
                   Deputy Minister of Finance and Economy

 Session 1: Monetary Policies in the E-Commerce Age
           Chairperson: Dr. Sang-Ho Sohn (Korea Institute of Finance)
 
   14:10-14:50   Paper Presentation 1
                    Prof. Soo-Bin Park (Carleton University)
                   " E-Commerce and the Role of Banks "
                    Discussion: Prof. Myung Hoon Yi (Myongji University)
   14:50-15:30   Paper Presentation 2
                    Dr. Han-Yung Jung (Korea Institute of Finance)
                   " Implications of Korea's Monetary Policy after the Currency Crisis "
                    Discussion: Dr. Jeong-Ho Hahm (The Bank of Korea)
   15:30-15:50   Coffee Break

 Session 2 : Capital Liberalization and Exchange Rate Policies
               Chairperson: Prof. Soo-Bin Park (Carleton University)  
  
   15:50-16:30  Paper Presentation 3
                   Prof. Sunghyun Kim (Brandeis University)
                  " Capital Market Liberalization and Contagion in the Asian Crisis "  
                   Discussion: Prof. Won-Am Park (Hong-Ik University)
   16:30-17:10  Paper Presentation 4
                   Prof. Yoonbai Kim (University of Kentucky and National University of Singapore)                    Prof. Hwee Kwan Chow(National University of Singapore) 
                  " Exchange Rate Variability and Financial Markets in East Asia "
                     Discussion: Prof. Kyung-Soo Kim (SungKyunKwan University)
   17:10-17:50  Paper Presentation 5
                   Dr. Haesik Park and Dr. Won-Chang Jang           
                   (Korea Institute of Finance)
                   " Exchange Rate Policy in Korea: Effectiveness and Limitation "
                   Discussion: Prof. Jai-Won Ryou (Konkuk University)
   17:50-18:00  Closing Remarks