The development strategy in Korea, which expedited industrialisation and urbanisation, achieved rapid economic development at the cost of the environment. As the economy grew, demands for cleaner environments increased rapidly and the rehabilitation of the environment became one of the most urgent tasks of the government. In dealing with the environmental challenge, the Government of Korea (GoK...

Job Market Signaling and Employer Learning This paper extends the job market signaling model of Spence (1973) by allowing firms to learn the ability of their employees over time. Contrary to the model without employer learning, we find that the Intuitive Criterion does not always select a unique separating equilibrium. When the Intuitive Criterion bites and information is purely asymmetric, the...

This study extends from Liu and Mei (1992) by further investigation of assets, real estate related securities, which includes both equity and mortgage real estate investment trusts (REITs), the stocks of builderand owner-companies, and mortgagebacked securities (MBSs). There are five major findings. First, expected excess returns of real estate related securities are more predictable than the e...

The wealth of experience accumulated over the past 30-40 years of fusion power plant studies must be forged into a new strategy to reshape all aspects of handling the continual stream of radioactive materials during operation and after power plant decommissioning. With tighter environmental controls and the political difficulty of building new repositories worldwide, the disposal option could b...

he 1980s brought changing trends into the waste market with increased reclamation, T recycling and waste minimization efforts. Adapting proven tcchnologies has aided in moving these three forms of waste managcment forward. A t EncycleITexas, Inc. (ETI), the fundamental objcctive of recycling is to convert hazardous waste into products. Founded in 1988, ET1 recycles metalbearing waste streams to...

In the light of an expected supply shortage of rare earth elements (REE) measures have to be undertaken for an efficient use in all kinds of technical, medical, and agricultural applications as well as—in particular—in REE recycling from post-use goods and waste materials. Biologicallybased methods might offer an alternative and supplement to physico-chemical techniques for REE recovery and rec...

In a model with endogenous number of innovating firms, we show that whether patent protection increases R&D investment is ambiguous, and depends on the market demand function and the cost of R&D. If the market size increases with number of firms, patent protection reduces R&D investment if the cost of R&D is sufficiently high, and higher product differentiation increases the possibility of lowe...