I cover three topics in empirical microeconomics. In the first chapter, titled Investor Attention to Firm versus Market-wide Information Shocks: Evidence from North Korean Missile Tests, I study whether attention towards salient political events leads to underutilization of firm-specific information in the South Korean stock market. I find that companies with earnings surprises in the top quartile experience a 1.6% increase in the abnormal return on the announcement day, but a same-day missile test takes away 70% of the positive response.
In the second chapter, titled Does Cultural Proximity Mitigate the Effect of Immigration on Electoral Outcomes? (with Gerard Domènech), we study the effect of immigration on electoral outcomes using individual-level administrative data in Spain. In a multiple instrumentations framework, we find that recent immigrants who arrived within two years are associated with an increase in the vote share of the extremist parties. Such an effect persists for additional two years but dissipates in the long-term. When split by regions of origin, African immigrants have the greatest impact, followed by Latin American immigrants. European immigrants do not affect the extremist vote shares. An analysis of the unemployment rate and the number of children suggests that immigrants tend to assimilate over time. The findings are consistent with the hypothesis that cultural proximity mitigates the political reaction to immigrants.
In the third chapter, titled The Effect of Daddy Quota on Gender Labor Market Outcomes (with Petra Niedermeyerova), we study the impact of a father-specific parental leave policy on labor market outcomes in Quebec, Canada. Using a province-level difference-in-difference approach, we find that the so-called daddy quota increases the probability of employment for women and decreases the wage of younger men. The results suggest that the daddy quota promoted equal opportunities for women in the labor market. In a theoretical framework, we show that policy-driven changes in gender norms are consistent with our findings.
| Identifer | oai:union.ndltd.org:bu.edu/oai:open.bu.edu:2144/43249 |
| Date | 30 October 2021 |
| Creators | Park, Cheonghum |
| Contributors | Fisman, Raymond |
| Source Sets | Boston University |
| Language | en_US |
| Detected Language | English |
| Type | Thesis/Dissertation |
| Rights | Attribution-NoDerivatives 4.0 International, http://creativecommons.org/licenses/by-nd/4.0/ |
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