First Author:   Yong Yoon Chulalongkorn University yong.y@chula.ac.th   Faculty of Economics, Chullaongkorn University, Phayathai Rd., Pathumwan Bangkok, 10330, Thailand   66-2-2186188(Phone) 66-2-2186188(Fax) https://www.econ.chula.ac.th/ Second Author: Keunkwan Ryu Seoul National University ryu@snu.ac.kr   School of Economics, Seoul National University, Gwanangno 599, Gwanak-Gu Seoul, 08826, Korea   82-2-8806397(Phone)   http://econ.snu.ac.kr/