Business Cycles in Korea: Insights from a TANK Model

This paper sets up a medium-scale small open economy TANK model with incomplete markets to address business cycles in Korea extensively. The estimated model via Bayesian estimation methodology shows that the fraction of households who lack access to financial markets increased from 30 percent to 40...

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Autores principales:	Yongseung Jung, Doo Yong Yang
Formato:	Artigo
Lenguaje:	Inglês
Publicado:	Korea Institute for International Economic Policy 2025-09-01
Colección:	East Asian Economic Review
Materias:	bayesian estimation business cycles constrained households tank model
Acceso en línea:	https://dx.doi.org/10.11644/KIEP.EAER.2025.29.3.452
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