Southwestern University of Finance and Economics
• 2017 Ph.D. in Economics, Korea University
• 2012 M.A. in Economics, Korea University
• 2010 B.S. in Industrial engineering (major) and B.A. in Economics (double major), Korea University
• Economic growth, macroeconomics, labor economics, education
• Human Capital in the Long Run (with Jong-Wha Lee), Journal of Development Economics, 122, 2016.
• Effects of Educational Mismatch on Wages in the Korean Labor Market (with Jong-Wha Lee and Eunbi Song), Asian Economic Journal, 30(4), 2016.
• Introduction of Talents for Scientific Research, Southwestern University of Finance and Economics, 2017.
• The Start-up Research Fund, Southwestern University of Finance and Economics, 2017.
• Junior Fellow-Research Grant, Korea University, 2016.
HONORS AND AWARDS
• Who’s Who in the World, Marquis Who's Who 2018, 2017.
• 2016 KU Graduate Student Achievement Award, Korea University, 2017.
• Brain Korea 21 (BK21) RA Scholarship, Korea Research Foundation, 2010, 2012-2014.
• Honors Scholarships, Korea University, 2004-2005, 2007, 2009.
• Member, The American Economic Association.
• Member, The Econometrics Society.
• Member, Korea-America Economic Association.
• Member, European Association of Labour Economists.
• Member, Hong Kong Economic Association.
• Member, The Korean Economic Association.
Director, Asiatic Research Institute
Professor, Economics Department
Korea University, Seoul, Republic of Korea
Professor, Economics Department
Korea University Seoul, Republic of Korea
National Graduate Institute for Policy Studies, Tokyo, Japan
Thesis title: Human capital accumulation, gender discrimination, and economic performance
Main advisor: Jong-Wha Lee
Committee members: Jinyoung Kim, Kwanho Shin, Myoung-jae Lee, Dainn Wie
M.A. in Economics
B.S. in Industrial engineering (major) and B.A. in Economics (double major)
• Database constructed and managed of Barro and Lee educational attainment dataset, projections of educational attainment and database website (www.barrolee.com)
o Barro, R. J., and Lee, J. W. (2013). A New Data Set of Educational Attainment in the World, 1950–2010. Journal of Development Economics, 104, 184-198.
• Published a research article on construction of historical educational attainment and human capital stock estimates for 111 countries since 1870
o Lee, J. W. and Lee, H. (2016). Human Capital in the Long Run, Journal of Development Economics, 122, 147-169.
Researcher to director Jong-Wha Lee
• Participated in simulating a model to quantitatively measure the opportunity cost of gender inequality in terms of output and the long-term productivity gains and income growth
• Engaged in research on human capital development and its role in economic growth in China and India
• Participated in a literature and data survey on Korea’s role in new global economic order (G20)
Abstract: This study presents new data sets on long-run enrollment ratios, educational attainment, and human capital stock measures for numerous countries. We construct a complete data set of historical enrollment ratios, subdivided by education level and gender, for 111 countries from 1820 to 1945 (at five-year intervals) by using newly compiled census observations and information on the year of establishment of the oldest school in individual countries. Then, by utilizing these enrollment ratios, as well as available census data from 1945 onward on different age groups’ educational attainment, we construct a data set of estimated educational attainment, disaggregated by gender and age group, and aggregate human capital stock that spans from 1870 to 2010. The data show that over the past two centuries, there has been remarkable growth in average educational attainment and human capital stock as well as a narrowing of the gap in average educational attainment between nations.
Abstract: Using data on Korean workers from the Programme for the International Assessment of Adult Competencies, the present study empirically investigates the incidence and wage effects of educational mismatch. Among full-time workers aged 25–54, approximately 27 percent are overeducated and 15 percent are undereducated. Our results reveal that, after controlling for omitted variable bias and measurement errors, return to an additional year of overeducation is significantly less than that to a year of required education, whereas undereducated workers do not appear to suffer wage penalties of deficit schooling. The findings also show that returns to a year of overeducation vary across fields of study. The returns to overeducation for college graduates from health and welfare, engineering and manufacturing, and social sciences, business and law are relatively high compared with those in agriculture, services, and humanities and arts.
Abstract: This study investigates empirically how human capital, measured by educational attainment, is related to income distribution. The regressions, using a panel data set covering a broad range of countries between 1980 and 2015, show that a more equal distribution of education contributes significantly to reducing income inequality. Educational expansion is a major factor in reducing educational inequality and thus income inequality. Public policies that improve social benefits and price stability contribute to reducing income inequality, while public spending on education helps to reduce educational inequality. In contrast, higher per capita income, greater openness to international trade, and faster technological progress tend to make both income and education distribution more unequal. Using the calibration of empirical results, we find that we can attribute the rising income inequality within East Asian economies in recent decades to the unequalizing effects of fast income growth and rapid progress in globalization and technological change, which have surpassed the incomeequalizing effects from improved equality in the distribution of educational attainment during the period.
Abstract: This study constructs and calibrates a macroeconomic model that explains Korea’s glass ceiling and examines the output cost of gender discrimination. The model is based on the span-of-control framework in Lucas (1978). The model assumes that the source of the glass ceiling is that women are unable to accumulate as much managerial skill as men. According to the simulation results of a one-sector model, without the glass ceiling, the share of female managers increases, aggregate output increases by 7.2%, and the output gain by removing the glass ceiling is monotonic. However, the output gain by removing the glass ceiling in a two-sector model is non-monotonic because wages increase rapidly owing to high labor demand and the number of workers increase beyond at a certain level, as per given parameters. The additional simulation results suggest that the effects of the policies in removing the glass ceiling on output will become monotonic if the government introduces policies to reallocate female employment from the service sector to the manufacturing sector.
Abstract: The fraction of marriages between South Korean males and brides from other Asian countries has sharply increased since 1990 reaching around 10% of new marriages in 2005. We employ a large data set collected in 2012 to investigate the impact of citizenship acquisition of these brides on their bargaining power in the household and labor market. We employ propensity score matching using detailed information of brides, their spouses, and households required for nationality application. Our results show that legal entitlement of marriage immigrants raises the chance of being hired as a regular worker and increases decision power in a household. The findings in this paper imply that a legal framework is an important determinant of the bargaining power of immigrants in the labor market and households.
Abstract: From 1993 to 2010, the proportion of female educational hypogamy – the tendency of like to marry down – has risen to 10.8%, which is greater than the proportion of male hypogamy. This paper examines how women’s hypogamy has changed over two decades, using 4.5 million couples from Korean Marriage Registration Data from 1993 to 2010. After control for individual characteristics, the results show that college educated women are more likely to marry down than non-college educated women. The probability of a female’s hypogamy decreases with employment and U-shaped relationship with age. The probability of a female’s hypogamy increases with the probability of marrying down again after turning down a less-educated man’s wedding proposal. This indicates that individual’s rational decision works in the Korean marriage market and the female hypogamy can become the common marriage style along with increasing female education and give solutions to the low fertility rates, female labor participation, and increasing income inequality.
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