• Economic Analysis
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• v.25 no.4
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• pp.1-24
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• 2019

This study examines the labor market performance of graduates who had student loans. Compared to earlier studies, we extended analyses to all jobs that were experienced for more than 18 months after graduation. First, we found that students who had student loans earned 2.81% less at their first job compared to their counterparts without student loans. Second, the wage gap decreased over time, a reduction of 0.66%p due to labor market turnovers. Third, when we compared cumulated labor income, however, the amount for borrowers were continuously higher. This is because the job searching period of a borrower was shorter, despite relatively lower wages at the first job, and borrowers also made more frequent job turnovers, accompanying relatively more wage increases. These results suggest that the negative effects of college loans on earnings, reported in previous studies, may have exaggerated the negative impact to some extent of having loans. However, when we look at the quality of jobs beyond simply wages, the proportion of borrowers working at large companies as regular workers was consistently low. Given that job conditions at the earlier stages of one's career may lead to gaps over time, our findings call for more systematic investigations into the effects that student loans have on long-term labor performance.

• Journal of the Korean Society for Library and Information Science
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• v.51 no.2
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• pp.237-253
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• 2017

There are many systematic approaches to manage Interlibrary loan (ILL) efficiently. In this paper, we propose an operating method reducing user-waiting in ILL. Users are usually informed to wait around two to three days in a regional ILL service. The reason of the waiting is that there is inefficiency in running material-delivery vehicles. A mixed integer programming is employed to resolve this issue. It provides an optimal vehicle-route maximizing material-deliveries subject to time availability. We used an actual data of a regional ILL system to provide optimal vehicle routes under different time settings.

• Economic Analysis
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• v.27 no.3
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• pp.1-32
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• 2021

This study empirically analyzes whether bank capital channel and risk-taking channel for monetary policy work for domestic banks in South Korea by analyzing the impact of the expansionary monetary policy on the rate spread between deposit and loan, capital ratio, and loan amount. For the empirical analysis, the Uhlig (2005)'s sign-restricted SVAR(Structural Vector Auto-Regression) model is used. The empirical results are as follows: the bank's interest rate margin increases, the capital ratio improves, risk-weighted asset ratio increases, and the amount of loans increases in response to expansionary monetary shock. This empirical results confirm that bank capital channel and risk-taking channel work in domestic banks, similar to the previous research results. The implications of this study are as follows. Although the expansionary monetary policy has the effect of improving the bank's financial soundness and profitability in the short term as bank capital channel works, it could negatively affect the soundness of banks by encouraging banks to pursue risk in the long run as risk-taking channel works. It is necessary to note that the capital ratio according to the BIS minimum capital requirement of individual banks may cause an illusion in supervising the soundness of the bank. So, the bank's aggressive lending expansion may lead to an inherent weakness in the event of a crisis. Since the financial authority may have an illusion about the bank's financial soundness if the low interest rate persists, the authority needs to be actively interested in stress tests and concentration risk management in the pillar 2 of the BIS capital accord. In addition, since system risk may increase, it is necessary to conduct regular stress tests or preemptive monitoring of assets concentration risk.

• The Korean Journal of Financial Management
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• v.24 no.3
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• pp.1-27
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• 2007

When banks prefer securities holding to lending, bank-dependent borrowers would be rationed in bank loan markets. This paper examines, both theoretically and empirically, the incentive of banks to hold securities rather than loans. When banks are in trouble due to an external shock and subsequent drain of deposit, they cannot reduce their loans quickly because loans are illiquid and are not easy to sell. Therefore, banks should respond to insured deposit drain by raising uninsured CDs or debentures. However, they cannot raise enough money through uninsured CDs or debentures when there is costly external finance premium. Meanwhile, if banks hold securities which are highly liquid, they can sell those securities and thus endure deposit drain without costly external financing. This explains why banks hold liquid securities of which yields to maturity are lower than those of loans. Banks' preference for securities comes from the existence of costly external finance premium, which is inversely related with bank net worth. After all, if bank net worth is kept high enough or capital market incompleteness is not severe, the preference for securities should be weakened.

• KDI Journal of Economic Policy
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• v.15 no.4
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• pp.113-142
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• 1993

전통적인 통화론자(通貨論者)의 화폐수량설(貨幣數量說)에 의하면 통화량(通貨量)만이 인플레에 영향을 주는 요인으로 파악되고 있다. 본고(本稿)는 인플레가 통화(通貨)의 공급경로(供給經路), 즉 중앙은행(中央銀行)의 발권대상자산(發卷對象資産)의 구성상(構成上)의 차이에 의해서도 영향(影響)을 받는다는 가설에 대한 역사적(歷史的) 이론적(理論的) 전개과정(展開過程)을 살펴보고, 이를 실증적(實證的)으로 검토하였다. 한국(韓國)을 포함한 41개국의 "패널"자료를 이용한 실증분석결과(實證分析結果)에 의하면 인플레가 총통화증가율(總通貨增加率)뿐만 아니라 중앙은행의 발권대상자산(發卷對象資産)의 구성(構成)에 의해서도 영향을 받는 것으로 확인되었다. 즉 국공임(國公賃) 등 정부부문(政府部門)을 대상으로 공급되는 본원통화(本源通貨)는 진성(眞性)어음재할인(再割引) 등 민간부문(民間部門)에 대한 본원통화공급에 비해 인플레에 미치는 영향이 큰 것으로 나타났다. 정부부문에 대한 통화공급은 미래의 재정정책(財政政策)에 대한 불확실성에 따른 정부의 채무상환능력(債務償還能力) 저하의 가능성이 상존하기 때문에 환수가 확실한 민간부문의 단기우량증권(短期優良證卷)을 대상으로 공급되는 통화와는 달리 인플레기대심리(期待心理)를 유발시킨다. 위의 실종분석결과는 향후 물가안정(物價安定)을 위해서 한국은행(韓國銀行)의 대예금은행(對預金銀行) 대출금이 현행의 재정자금적(財政資金的) 성격의 자금위주에서 진성(眞性)어음재할인(再割引) 등 순수민간부문에 대한 신용중심으로 재구성(再構成)되어야 함을 시사한다.

• Journal of Information Management
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• v.43 no.1
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• pp.63-87
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• 2012

This study aims to analyse the actual condition of the ebook services and propose the improvements of ebook services for children in the Korean public library. For this purpose, the current condition of the ebook services in the public libraries were analyzed and categorized by three criteria. Secondly, the ebook use analysis was conducted using PCs and mobile devices in terms of access to ebook library site, searching method, contents type and viewer, lending process, and user help. As a result of the analysis, several issues such as the difficulty in access to ebook site, the complexity of setting and usage depending on the file format, the insufficient user guide, the relatively lower quality service than the commercial's, and the lack of retrieval functions specialized for the ebook were presented. The improvement plan for the ebook services, especially for children in the public library was suggested.

• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.171-198
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• 2009

The primary purpose of this study is to examine the impact of new BIS regulation, which is the preparations to incorporate not only credit risk but also market and operation risk, on the bank behaviors. As methodology, SUR(seemingly unrelated regression) and pool unit test are used in the empirical analysis of banks survived in Korea. It is employed that quarterly data of BIS capital ratio, ratio of standard and below loans to total loans, ratio of liquid assets to liquid liabilities, allowances for credit losses, real GDP, yields of corporate bonds(3years, AA) covering the period of 2000Q1~2009Q1. As a result, it could be indicated that effectiveness and promoting improvements of BIS capital regulation policy as follows; First, it is explicitly seen that weight of lending had decreased and specific gravity of international investment had increased until before BIS regulation is built up a step for revised agreement in late 2001. Second, after more strengthening of BIS standard in late 2002, banks had a tendency to decrease the adjustment of assets weighted risk through issuing of national loan that is comparatively low profitability. Also, it is implicitly sought that BIS regulation is a bit of a factor to bring about credit crunch and then has become a bit of a factor of economic stagnation. Third, as the BIS regulation became hard, it let have a effort to raise the soundness of a credit loan because of selecting good debtor based on its credit ratings. Fourth, it should be arranged that the market disciplines, the effective superintendence system and the sound environment to be able to raise enormous bank capital easily, against the credit stringency and reinforce the soundness of banks etc. in Korea capital market.