An Empirical Analysis on the Impact of Government R&D Subsidies on Employment of SMEs
Wonhong Lee, Hee-Seung Yang
This study empirically analyzes the impact of government R&D
subsidies on employment of SMEs in Korea using data from
Survey and Analysis of National R&D Program and KIS-Value
DB. We compare government R&D recipients to a matched set of
non-recipients with PSM and Panel DID methods, and find that
the recipients hire more employees than their counterparts. In
addition, we find evidence that recipients of more government
R&D subsidies hire more employees than recipients of lesser.
These findings highlight that consecutive government R&D support
from a mid- to long-term perspective is necessary to accelerate the
net job creation effect.
Multinational Firms¡¯ Demand for Tax Haven:Evidence from South Korea
Hyelin Choi
Recently, foreign direct investment in Korea has undergone
changes in terms of investment purposes, target countries, and
major industries. In particular, investments in tax havens have
been rapidly increasing since 2010. This study analyzes the
characteristics of firms that invest in tax havens using firm-level
data from the Statistics Korea. The analysis shows that larger,
capital-intensive, and active in overseas direct investment firms
are more likely to invest in tax havens. Moreover, firms with
higher intangible assets and more intra-firm transactions have
higher demand for tax havens.
An Analysis of the Impact of COVID-19 on International Airline Services:The Case of Daegu Airport
Joo Yeon Sun
This study aims to empirically examine the flight frequency of
airlines operating non-stop international flights. By employing
data from 2019 to April 2023, the empirical results using model
including the number of past flight frequencies suggest that
airlines with experience operating existing routes operate more
flights rather than new ones. The higher the share of international
routes at Daegu Airport and the lower the market concentration of
international routes, the more the number of flights increases. The
number of flights by foreign airlines drastically decreases. Finally,
the number of COVID-19 confirmed cases has no impact on
international flight operations.
The Effect of Socioeconomic Characteristics on Individual Perceptions of Economic Inequality and Giving
Seoyoon Jeong, Myungkyu Shim
This paper explores how different individual socioeconomic
characteristics impact their perceptions of economic inequality and
actions of giving. Using the 2022 Yonsei-Yongwoon survey data,
we find that individuals with high labor income tend to be more
aware of prevailing economic inequality while willing to donate
less. Those who possess one or more residential properties are less
aware of inequality. Political ideology also effects perception
differently, in that individuals having relatively progressive views
believe income should be more equalized, while the opposite is
observed for those with conservative views. These findings are
robust throughout various robustness checks.
Climate Change Transition Risk and Monetary Policy Response: The Case of Korea
Jiyoung Lee, Joon-Ho Hahm
This study assesses the impact of implementing a carbon tax for
a low-carbon transition in Korea, using the New Keynesian DSGE
model by Diluiso et al. (2021) calibrated with Korean data from
2001 to 2020. We investigate transition risks under two scenarios:
a timely, gradual transition and a delayed, radical one. Additionally,
we examine the influence of different monetary policy reactions on
transition costs. Results indicate that a delayed, radical transition
results in higher volatility in macroeconomic and financial variables
compared to a gradual transition. Notably, a more responsive
monetary policy can help mitigate adverse impacts on stability.
A Study on the Estimation of the Probability of Payment of the National Tax Delinquents using XGBoost
Youngwoo Jeong
The aim of this study is to estimate the likelihood of payment of
the national tax delinquents and it determinants using XGBoost, a
kind of machine learning method. For doing this, a total of
434,494 cases of national tax delinquents information, which were
entrusted to KAMCO for consignment collecting between 2013 to
2022, were used for empirical analysis. As a result of this
analysis, it was confirmed that several variables such as total
amount of arrears, female or not, delinquent¡¯s age were major
factors to affect the possibility of payment of national tax
delinquents, based on the Shapley Value. And also, it was found
that the classification accuracy of XGBoost was about 10%p higher
than that of the logistic regression model, and the F1 score also
produced relatively excellent result. Therefore, it is certain that
XGBoost model is superior to a traditional model for predicting the
possibility to pay of the national tax delinquents. The contribution
of this paper is to confirm that the possibility of payment can be
estimated through machine learning method using actual data of
national tax delinquents.