Yong Suk Lee

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Does entrepreneurship cause local employment and wage growth, and if so, how large is the impact? Empirical analysis of such question is difficult because of the joint determination of entrepreneurship and economic growth. This paper uses two different sets of variables – the homestead exemption levels in state bankruptcy laws from 1975 and the share of MSA(More)
This paper examines how an autocratic regime domestically counters the impact of economic sanctions. A stylized model predicts that, as long as non-compliance is not too costly, the autocrat redistributes resources to the more valuable urban area when sanctions increase. Empirically, I examine the case of North Korea. I use the satellite night lights data(More)
This paper examines the impact of sanctions on trade, and how international relations influences the welfare implications of sanctions. Sanctions intend to punish target countries by inhibiting them from the gains from trade. The e↵ect of sanctions depends on not only the bilateral impact on trade but how much trade is diverted to other countries. I(More)
This paper examines whether modern management, characterized by performance and target based practices, explains the recent rise in wage inequality. I hypothesize that modern management's shift to performance pay, management-skill complementarity, and management-technology complementarity contribute to the increase in wage inequality within establishments.(More)
This paper examines the impact of government guaranteed small business loans on economic growth, and whether government guaranteed loans crowd out new businesses financed through the market. OLS estimates indicate a significant and positive relation between the Small Business Administration's (SBA) guaranteed loans and metropolitan growth between 1993 and(More)
Concerns about the quality of state-financed nursing home care has led to the wide-scale adoption by states of pass-through subsidies, in which Medicaid reimbursement rates are directly tied to staffing expenditure. We examine the effects of Medicaid pass-through on nursing home staffing and quality of care by adapting a two-step FGLS method that addresses(More)
Do online price estimates directly impact sales prices in the real estate market, and if so, how large is that impact? We develop an estimation model that uses the di↵erence between list prices and online price estimates to proxy for house specific unobservables. To account for neighborhood specific unobservables, we use neighborhood first di↵erencing.(More)