• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.12
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• pp.5752-5758
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• 2012

We investigate whether consumers' expectations affect managers' decisions. In particular, we examined whether the expectations that consumers make about the changes of their financial situations and family incomes are positively related to the decisions that managers make about advertising expenditures. We analyzed consumers' expectations as well as the advertising expenditures of 6,018 firms between 1991 and 2011. Our analysis supported our hypothesis. Our findings contribute to the discussions regarding the effect of consumer expectations on manager decisions as well as provide practical implications to advertising managers.

• Journal of the Economic Geographical Society of Korea
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• v.13 no.3
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• pp.487-497
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• 2010

This paper estimates theoretically optimal sizes of urban population for major metropolitan areas using an urban economy system with utility maximizing household, profit maximizing producer and government providing public goods. This finds that the optimal size of urban population is determined by technological levels and public services. The population sizes of Seoul, Busan, Daegu and Incheon are higher than their optimal levels, while Gwangju, Daejeon and Ulsan need to increase the population for production efficiency.

• Journal of the Korean Society of Food Culture
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• v.26 no.2
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• pp.170-177
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• 2011

We examined household's food expenditures in this study. The empirical work outlined here used quarterly data from 2003 Q1 to 2010 Q3. All variables are in log form and were obtained from the Korea National Statistical Office. The food items included cereals, dairy products, fruits, meat, vegetables, and alcoholic beverages. We applied the ordinary least squares method to a model consisting of household income and seasonal dummies. This is because household expenditures are ordinarily a function of income and have seasonal characteristics. The household's food consumption patterns also reflect the prevailing social and environmental circumstances. This study showed that the income coefficients of cereals, meat, dairy products, and alcoholic beverages tend to increase in the long-run, whereas those of vegetables and fruits decreased. The results also revealed that consumption of alcoholic beverages and meat was greatly affected by household income fluctuations, whereas those of vegetables and dairy products were not sensitive to income. The impulse response functions indicated that expenditures not only increased slowly before peaking one to eight quarters after the income shock but declined very slowly to pre-shock levels. The response of dairy products at the twelfth step was three times as large as that of the first step.

• Journal of Families and Better Life
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• v.10 no.2
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• pp.1-18
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• 1992

The purpose of this study is to consider the socio-economic development and policy in each five-year economic development plan influences of urban households and to seek a plan of household stability and reasonable consumption expenditure on the aspect of Family economics. Data is based on the "Annual Report on the Family Income and Expenditure survey" of the National Bureau of Statistic Economic Planning Board, Republic of Korea and analyzed as follows: First, in analysis to the structure of consumption expenditure, the averaged percentage of each item to total consumption expenditure is estimated by each Economics Development Plan year. Second, in order to analyze the relative importance value of household consumption expenditure, priority correlation order is derived from comparison of characteristics of household consumption expenditures by multiple regression analysis. Third the patterns of consumption expenditure of salary and wage earner's households in all cities are estimated by the household consumption function, marginal propensity to consume, and income elasticity, according to socio-economic variable, and demographic variable. In the recent Korean economy, income level of household is increased and consumption expenditure level is largely increased because of the execution of economic development plan. But the improvement of income derives the increasment of the consumption needs and over-consumption trend is spread due to the import liberization. And above all, the reasonable household management and economic life are needed.

• Health Policy and Management
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• v.17 no.3
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• pp.50-67
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• 2007

This study investigated income elasticity of household health expenditures and differences by income level from 1998 through 2003. Data from Korean Labor and Income Panel Study was used for empirical analyses. To estimate the income effects on health expenditure, the two-part model was employed: a logistic regression for any health expenditure-first part-and a Ordinary Least Square regression for health expenditure conditional on any spending-second part. To estimate income elasticity, both health expenditure and income were log transformed in the second part. In addition, the random effects(RE) model was used for a longitudinal panel which was continuously followed from 1998 through 2003 to estimate income effects on health expenditures controlling for within and between unobservable household characteristics. Furthermore, difference in income effects on health expenditure across income level was investigated. Although income slightly increased odds of any health expenditure, there was not no table differences across income level. Income significantly increased health expenditures during study period(overall income elasticity: about 0.2) and the highest 20% income group presented higher income elasticity than the lowest 20% income group.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2022.05a
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• pp.710-712
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• 2022

Agricultural products take a large part of the wholesale and retail market as a necessity for daily consumption, and the consumption and price of agricultural products affect the supply and demand of agricultural products, consumer spending, and agricultural household income. Therefore, in this study, It was conducted on unit price prediction using LSTM to trade agricultural products, weather observation, import and export performance and fresh food index data. In order to study the supply and demand management of agricultural products and appropriate prices in the wholesale and retail market, unit prices are predicted for garlic, cabbage, and onions with high consumer price index weights among items subject to vegetable price stabilizers.

• 한국노년학
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• v.29 no.1
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• pp.215-230
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• 2009

In this study, we compared Korean retirees' retirement wealth adequacy with their subjective recognition and examined determinants affecting the retirement wealth adequacy. The data were drawn from the 2007 Korean Retiree Survey carried out by the Korean Investors Education Foundation. The major results of this study were as follows. The analysis suggested that Korean retirees(age 50 and over) were not well prepared financially. When using their assets(except for their residence), only 23.2% had accumulated enough wealth to meet their expenses for the remainder of their life. 25.7% of retirees subjectively considered themselves to be adequately covered. The comparison results showed that 23.8% of retirees' subjective recognition was not in accord with the estimation results. One of the most troubling groups is the 12.9% of retirees who were in the inadequacy group even though they considered themselves to be in the adequacy group. Retirement wealth adequacy determinants were quite different between objective adequacy and subjective recognition. Household income and ownership of a residence have positive effects on the retirement wealth adequacy. Also, the importance of retirement planning to retirement wealth adequacy is statistically confirmed. Based on these findings, This research suggests private retirement planning and political implications for retirees and preretired households.

• Korea journal of population studies
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• v.25 no.1
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• pp.257-289
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• 2002

In this study we analyse how the tobacco prices have an effect on the national health. The level of tobacco price will fluctuate its consumers demand and eventually affect the national health status. We estimate tobacco consumption function as well as households'demand system in which tobacco and health expenditure functions are included. Demand elasticities are estimated and evaluated in order to find future policies to improve the national health by controlling the national tobacco consumption There are two econometric approaches app1ied in this study. The lent tobacco demand analysis method is mm tobacco consumption function model. Using national indices of tobacco price, tobacco consumption and other related variables, tobacco consumption function is estimated. The other is micro demand system analysis by using Korean urban households expenditure data during the period of 1991 to 1999. The own price elasticity which is estimated from national tobacco demand per capita is -0.19 for all people and -0.176 for the adults over 18, which means 100% price increase will cause decease of tobacco demand at 19% and 17.6% per each The cross vice elasticity which is estimated between tobacco and health expenditure of urban households demand system is -0.2328, which implies 100% of tobacco price increase will decrease 23.28% of health expenditure. The low price elasticities imply that tobacco price increase will increase total tobacco sales volume. 100% of tobacco price increase will bring about 79% increase of total tobacco sales volume according to our scenario. Korea's tobacco demand is negatively responsive to fluctuations in its price. The health expenditure is also negatively relatedto the tobacco price fluctuation. These empirical outputs could be utilized as the basis of government's tax policy to control national tobacco consumption in the future.

• Journal of Family Resource Management and Policy Review
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• v.27 no.3
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• pp.39-52
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• 2023

In this study, based on survey data from Japan, I analyzed the differences between the expectations for social security and the perception of life in old age by age group. The analysis data used in this study are from the "Survey on Life Security, 2019" conducted by the Japan Life Insurance Cultural Center, which surveyed men and women aged 18 to 69. The results of the analysis are as follows. First, expectations about health insurance are higher than expectations about other forms of social security in all age groups. Second, when it comes to expectations for public pensions, both men and women have the highest average scores in their 60s. Third, the age group with the lowest average score for public health insurance, public pension, public care insurance, and survivors' pension was found to be those in their 40s. In addition, men in their 20s had a higher average score on their perception of life in old age. Fourth, the effect of social security expectations on perception of life in old age was found to be somewhat different for gender and age groups, but overall, it was found that public health insurance expectations were an important factor that had a positive impact on the perception of life in old age.

• Journal of the Korean Home Economics Association
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• v.40 no.8
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• pp.153-166
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• 2002

This study aims to reveal the influence of price increase in gasoline on household expenditure trade-off. The subjects were 651 households, acquired the first quarter of 1996 and 1997. This study shows the change of the auto fuel budget share in the same household and they were analyzed with the paired t-test, independent t-test. The results are as follows; 1) the price increase of auto gasoline resulted in the increase of its budget share, regardless of a household's true increase or decrease of income. 2) according to price increase in gasoline, the auto fuel budget share has been changed, therefore I divided these changes into three group on the base of it's degree of change. 3) In the group that had a decrease in auto fuel budget share compared to the degree of change, there was a trade-off between the increase in food and light & light water and the decrease of education and auto fuel budget share. Auto fuel in this group was used as discretionary good. 4) In the group that had a similar change in auto fuel budget share compared to the degree of change, there were no trade-off between expenditure items except auto fuel budget share and miscellaneous decrease. This group is the highest income group among the three groups. 5) In the group that had and increase of change in auto fuel budget share compared to the degree of change, there was a trade-off between the increase of eating-out and auto fuel, and the decrease of education and miscellaneous budget share. Auto fuel in this group was used as a discretionary good. 6) trade-off expenditure budget share showed a mixed effect between the influence of increase in gasoline price and influence of increase in true income.