• The Korean Journal of Applied Statistics
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• v.28 no.4
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• pp.741-762
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• 2015

This study examines the long-term prospects for a minimum living guarantee by public pensions for the elderly using a dynamic micro-simulation model. "Elderly poverty" here is an estimate calculated by considering only the public pension income and it means how public pension affects the minimum living guarantee for the elderly. The main results are: First the impact of the public pension system on elderly poverty can be decomposed into economic growth and institutional effect. When considering both effects, the absolute poverty rate of the elderly will be reduced to 20% by the year 2040. But when considering the institutional effect(except economic growth effect), that rate is expected to be a long-term level of around 90%. Second, even if the Basic Pension is indexed to 10% of A-value, the elderly poverty rate is only about 10%p to be reduced further, compared to the current CPI-indexed system. Third, current benefit formula for National Pension does not consider the actual correlation of income level and insured period; consequently, the reversal possibility of the replacement rate appears likely. Fourth, the reform of 2007 improves the sustainability of the National Pension; however, it deteriorates the adequacy of the pension policy, i.e., the past system would be better than the current system in regards to a reduction in elderly poverty. Further discussion is needed on aspects of correct pension reform assessments which is difficult to achieve without understanding the comprehensive benefits and costs to society.

• Journal of Korea Port Economic Association
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• v.27 no.4
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• pp.207-218
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• 2011

This paper investigates the determinants of trade on Southeast Asia via Korean ports using monthly data. I employ Johansen cointegration methodology since the model must be stationary to avoid the spurious results. Johansen(1988) and Johansen and Juselius(1990) propose two statistics for testing the number of cointegrating vectors: the trace and maximum eigenvalue statistics. The null hypothesis that there is no cointegrating vector should be rejected at the 5% level. The results indicate that there is a long-run relationship between trade and variables. This also suggests that these variables have a meaningful equilibrium relationship between trade and variables would not move too far away from each other, displaying a comovement phenomenon for the export and import. Apparently, the error correction term reflects market information in a state of disequilibrium that is bound to be corrected when moving toward the long-run level.

• Korean Journal of Social Welfare
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• v.59 no.2
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• pp.143-169
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• 2007

The major purpose of this study was to offer a comprehensive analysis of the changing trends and causes of poverty among urban wage earners' households from 1995 to 2005. In order to do that, this study used the micro data of "Income and Expenditure Survey of Urban Households" by the National Statistical Office(NSO) and GEE(Generalized estimating equation) regression model which is know as an appropriate method for the longitudinal and clustering data. The results show that (1) the numbers of poverty rate and poverty gap in recent years are even getting seriously worse than those in the IMF crisis. (2) Main characteristics of poor are female headed, old aged, low educated households, and having atypical working position. (3) Major determinants of poverty are also related to the variables as mentioned the above. (4) However, poverty reduction effect of public transfer increased preferably in recent years.

• Korea journal of population studies
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• v.29 no.3
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• pp.73-87
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• 2006

The purpose of this study is to investigate the economic deprivation of male-headed or female-headed households. Household having children under the age of 18 are categorized into three types according to the gender of household head: male-headed household, female-headed household, and dual-parents household. The findings from data, for this study came from the Korean Labor Panel Study in 2003. The analysis shows that the household's age, education, residence types, etc are key explanatory variables in determining whether to be in poverty. While the public income transfer is most effective in reducing poverty in female-headed households, the private income source is relatively more useful among male-headed families. Since single-household families are particularly at risk, public policy makers should pay special attentions to developing and expanding welfare-to-work programs which provides work incentives to overcome relative poverty and community networks on child care.

• Journal of the Korea Convergence Society
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• v.12 no.1
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• pp.267-274
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• 2021

This paper examines the impact of the Basic Pension scheme in terms of poverty reduction and income distribution among elderly households by focusing on the differences in the household type. It compares the data before (2013) and after (2016, 2019) the introduction of Basic Pension by using Household Income and Expenditure Survey data. Empirical analyses indicate that, first, the overall income and the public income transfer of the elderly households increased during the period compared. Second, the poverty rate was considerably higher for the elderly living alone than for other household types. The government policy led to poverty-reduction for all types of elderly households, wherein the effect was most profound in the case of elderly living with spouse. Third, income distribution improved for all types of elderly households, though maximum margin was observed in the case of the elderly living alone. Fourth, according to the multivariate logit regression, the Basic Pension had a positive impact on reducing the risk of poverty (defined as below 40% of median income) among the elderly households.

• Journal of Teachers' Pension
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• v.4
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• pp.91-123
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• 2019

본 연구는 2009년 법 개정에 따른 기준소득의 변경이 가입자별 보험료 부담과 연금급여의 변경에 어떠한 영향을 주었는지를 구체적 사례를 중심으로 살펴봄으로써 제도 변경 전후의 가입자별의 연금소득 변화를 산정함과 아울러, 2015년 사학연금법 개정에 따른 사학연금 가입자간 소득재분배제도의 도입이 2009년 법 개정에 따른 연금소득효과에 어떠한 영향을 주었는지를 분석하였다. 분석 결과, 사학연금가입자의 경우 법 개정 당시의 전제가 되었던 기준소득대비 보수월액의 비율인 65% 수준에 근접하는 사람은 일부에 불과한 것으로 나타났다. 즉, 60~70%기준에 포함되는 계층은 5.6%에 불과하고, 60% 이하인 자가 88.6%, 70% 이상인 자는 5.8%로 나타났다. 이는 사학연금 가입자 상당수가 기존의 보수월액이 실제 과세소득의 일정비율보다 낮은 위상에 있었음을 의미한다. 따라서 2009년 법 개정 결과, 처음의 기대와는 달리 개정 이전 연금액에 비하여 높아지는 가입자가 87.5%, 낮아지는 가입자가 12.5%인 것으로 나타났다. 그렇지만 연금액이 증가되었지만 보험료 부담이 함께 증가되었기 때문에 수익비 측면에서 더 유리해졌다고 할 수 없다. 더 부담하고 더 많이 받는 경우가 대다수였다. 물론, 오히려 기준소득이 보수월액보다 절대치조차 낮은 가입자도 있었다. 이 경우, 본인의 희망에 따라 법령에서 별도로 정한 최저소득기준을 선택할 수 있도록 함으로써 문제점이 완화되었다. 2009년 법 개정 상에 나타난 연금액 증가는 소득재분배 요소를 도입한 2015년 법 개정으로 상대적으로 저소득 가입자는 연금액이 증가하고 고소득자는 연금액이 감소됨으로써, 2009년 법 개정에서 나타난 고소득자에게 유리할 수 있는 부분이 완화되는 결과를 만들었다. 2015년 개정은 2009년 개정 상 발생한 문제를 다소 보완하는 결과가 되었다. 공무원의 보수월액을 적용하여왔던 제도를 기준소득월액으로 바꾼 것은 사학연금 가입자가 실제의 소득에 기초하여 보험료를 부담하고 연금을 지급받을 수 있도록 되었다는 점에서 제도의 정상화로 보는 것이 바람직하다. 소득기준의 전환으로 내재적으로 혼란이 발생할 가능성이 있었지만, 2015년의 법 개정으로 제도가 보다 완결적으로 발전가능하게 된 것으로 평가된다.

• Korea Real Estate Review
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• v.28 no.1
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• pp.105-114
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• 2018

According to Statistics Korea, South Korea has entered the realm of the "aging society" with the rapid development of the country's population. Researchers anticipate that the extremely high (73%) ratio of real estate property to total assets for mid-age to aged households in South Korea that do not have a fixed income may cause serious problems in the future. For example, the real estate market in South Korea may be bombarded with properties listed for sale, causing the average property price to drop due to the abundant supply. Although this prediction may be reasonable, this concept has excluded the idea of pension (which is crucial as it can be considered a consistent and fixed income) due to the limited amount of available data thereon; as such, it is important to include this factor to improve the pertinent research. Thus, this research was conducted using the data from the $3^{rd}$ and $5^{th}$ Korea Retirement and Income Study. For the study results, it was found that variables such as net asset, gender, education, and number of family members have the same impact as that found in the previous studies. To extend from here, two new factors were introduced: the existence of pensions and the amount of pension received by a household. From there, it was found that the existence of a consistent and fixed income such as a pension has led to an increase in housing consumption, the area of interest of the authors.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.237-247
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• 2021

The purpose of this study is to analyze the effectiveness and efficiency of social security benefits to poverty alleviation. To this end, this study analyzed the poverty alleviation effect of public pension, basic pension, child-rearing allowance, disability allowance, basic living security subsidy, EITC, and other government subsidies using 2019 Household Financial Welfare Survey. The analysis results are as follows. First, social security benefits lowered the poverty rate by 6.8%p. Second, in terms of the poverty gap reduction effect, the public pension for the elderly male households, the basic pension for the elderly female householder, and the basic guarantee for the working female householder contributed the most. Finally, in terms of poverty alleviation efficiency, about 33% of social security benefits contribute to narrowing the poverty gap. Social security benefits for female heads of households were found to serve as a function of alleviating poverty gap and for male heads of households to supplement household income. Based on these results, this study suggested the discovery of various poverty states, expansion of basic security for the female elderly, and the connection between the purpose of social security benefits and key targets.

• Korean Journal of Social Welfare
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• v.65 no.2
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• pp.179-201
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• 2013

Since the 1960s, Korean welfare regime has been characterized by developmental welfare regime, of which invisible welfare programs like relation-based welfare are one of core elements. Developmental welfare regime of Korea has been dismantled after 1990s by the internal and external pressures. Focusing on the declines of relation-based welfare, this study examines the dismantle of developmental welfare regime of Korea. Since the late-1990s, the roles of inter-family income transfer and public income transfer are significant changed in terms of each share of total household income and each contribution of poverty alleviation. In other words, the role of public welfare has been growing while that of relation-based welfare has been decreased in the last twenty years. For the sake of a successful welfare regime transition in Korea, redistributional function of public welfare is quite important, but the development of reciprocal social economy and open community are also needed. Because, at this time and in this place, traditional welfare state building strategy is not proper in many aspects. However, it is impossible to achieve the development of reciprocal open community by restoration of relation-based welfare which has been already declined. This study regards enlargement of social economy or third sector as a development of reciprocal open community, and insists that cooperatives are especially worthy of notice.

• Journal of Teachers' Pension
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• v.5
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• pp.219-241
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• 2020

연기연금제도는 연금 지급개시연령 도달 이후 일정 기간 연금수급을 포기하는 대신 급여에 일정액을 가산하여 지급하는 제도이다. 연기연금은 지급개시연령 도달 이전에 수급을 신청하면 일정액을 가산하여 차감하고 지급하는 조기연금과 상호보완적인 기능을 수행하며 유연은퇴(flexible retirement)의 주요한 축을 구성한다. 연기연금제도의 정책적 목적은 수급자별 다양한 재무적 상황에 따라 보다 유연한 은퇴설계와 노후소득 확충을 지원하는 제도적 장치를 마련하는 것이다. 하지만 현재 연기연금제도는 국민연금에는 시행되고 있으나 사학연금을 비롯한 직역연금에는 도입되지 않고 있다. 최근 공적연금간 급여규정 수렴화에도 불구하고 사학연금을 비롯한 직역연금에서 연기연금을 도입하지 않는 배경에는 공적연금간 급여 형평성 등 많은 쟁점사항들이 영향을 미치기 때문일 것이다. 하지만 이 연구는 그러한 기저의 논쟁에서 벗어나 제도의 재무적 특성 분석을 목적으로 한다. 분석자료는 연금수급을 위한 요건을 충족한 퇴직자 중 연금수급연령 미도달자로 이들 대기자 그룹의 미시자료를 이용해 연기연금 적용 시 제도의 총급여액 증가를 야기하지 않는 재정 중립적 증액률(plan-neutral deferral rate)을 산출하였다. 분석결과, 분석자료를 대상으로 한 산술적 증액률은 6.75%였으나 민감도 분석의 결과를 반영한 적정수준은 6% 이하일 것으로 사료된다. 이는 장기적 추정의 특성상 적용되는 가정변수 수준에 따라 변동폭이 클 뿐만 아니라 하위 구성집단간의 이질적 특성으로 산출되는 증액률의 편차가 크기 때문이다. 따라서 재정 안정성을 훼손하지 않기 위해서는 보수적 관점의 접근이 필수적이다. 연구의 구성은 크게 세 부분으로 II장에서는 소득활동관련 연금의 주요한 수단으로 연기연금의 제도적 필요성을 검토하고, III장에서는 실제 사학연금 가입자 자료를 이용해 재정 중립적 증액률을 산출하고 주요 변수별, 특성 집단별 증액률에 대한 분석결과 및 시사점을 기술하였다. IV장에서는 장기 재정안정성을 저해하지 않기 위해 적정 증액률 산정 시 추가적으로 고려해야 되는 재무적 관련사항을 기술하였다.