• Title/Summary/Keyword: 상속자본

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Conceptualizing Fashion Capital: An Exploratory Study (패션자본의 개념화를 위한 탐색적 연구)

  • Jin Jeong;Yuri Lee
    • Journal of Fashion Business
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    • v.28 no.1
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    • pp.20-35
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    • 2024
  • The term 'fashion capital' has been used in conjunction with Bourdieu's concept of cultural capital. The aim of the present study was to explore the concept of fashion capital existing independently within the field of fashion. In-depth interviews were conducted with 8 fashion specialists and enthusiasts, seeking to uncover the structures, characteristics, and paths of fashion capital accumulation possessed by individuals with high fashion capital. As a result, fashion capital was broadly categorized into inherited capital, acquired capital, and institutionalized capital. Key components were identified, including inherited capital related to influence of family and childhood environment, acquired capital encompassing fashion activities, fashion knowledge, and ability to appreciate fashion, and institutionalized capital represented by economic benefits transformed from other forms of capitals. Additionally, 13 supplementary elements were identified. These elements could be broadly categorized into inherited, acquired capital, and institutionalized capital, as outlined by Bourdieu. This study initiates an academic discussion on the concept of fashion capital within the domain of fashion consumer research. Findings of this study have potential to provide educational and practical implications for both fashion industry and academia.

Equity-Efficiency Trade-off: the Case of Inheritance Tax (상속세(相續稅)에 있어서의 형평(衡平)과 효율성(效率性)의 괴리(乖離))

  • Moon, Hyung-pyo
    • KDI Journal of Economic Policy
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    • v.12 no.4
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    • pp.97-111
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    • 1990
  • This paper examines the effect of redistributive inheritance tax on income distribution and social welfare. The model used here is the Overlapping-Generations Model consisting of individuals with different bequest motives where the lifetime income distribution in each cohort is determined endogeneously by the dynamic bequest process. It is shown that the introduction of redistributive inheritance tax can improve the vertical equity in the sense that the increase in tax rate reduces the coefficient of variations of intra-cohort income distribution in steady-state. However, it is also shown that, the effect on social welfare, when measured by Benthamite SWF, is uncertain in general. The numerical simulations show that, in spite of its equity-enhancing effect, the tax increase can actually lower the steady-state social welfare within the plausible range of parametric values, through the long-run output effect as well as the deadweight welfare loss incurred by tax distortion. Hence, the problem of equity-efficiency trade-off can arise in this case. However, if both the market interest rate and the elasticity of marginal utility in individual's preference function are sufficiently high, it is shown to be possible that the steady-state social welfare is enhanced by the introduction of inheritance tax.

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On the Incidence of Redistributive Capital Taxations (소득재분배(所得再分配)를 위한 자본조세(資本租稅)의 전가분석(轉嫁分析))

  • Moon, Hyung-pyo
    • KDI Journal of Economic Policy
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    • v.12 no.2
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    • pp.121-134
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    • 1990
  • This paper examines the redistributive potential of capital taxations within the two-class overlapping generations model, where only capitalists are intergenerationally linked through heritable capital stocks. In particular, the dynamic welfare incidence of two different capital taxations is examined; first a capital income tax levied uniformly on interest earnings, and second, an estate tax levied on the intergenerational transfers of capital stock within the capitalists' families. Redistributive effects are measured by examining how the permanent and unanticipated changes in proportional capital income tax and estate tax rates affect workers' welfare when the proceeds in each period are distributed, in a lump-sum fashion, among young workers. It is shown that, except for in the short run, both the capital taxes are ineffective and may actually lower the workers' steady state welfare through the shifting of tax burden toward workers from capitalists. Differential incidence analysis shows that redistributive potential is diminished further when the lump-sum transfers are financed by the estate tax rather than by the capital income tax. Although the model examined in this paper is based on simple and strong assumptions, this study suggests that redistributive policy using the capital taxations may only have distortionary effects in the long run, without improving workers' welfare, by incurring dead-weight loss unless additional fiscal measures are implemented to increase the investment incentives.

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Determinants of the Demand for Cash-Value Life Insurance (저축성 보험 보유 및 보유액에 영향을 미치는 요인 분석)

  • Baek Eun-Young;Joung Soon-Hee
    • Journal of Families and Better Life
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    • v.23 no.3 s.75
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    • pp.217-230
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    • 2005
  • The purpose of this study was to examine factors related to the purchase of cash-value life insurance of households. Based on human capital and bequest motive theories of the demand for life insurance, this study developed a conceptual model of the demand for life insurance of households. In addition, in order to capture the beneficiaries' preference and expected lifetime utility, expected future financial needs were included in the conceptual model. Using Heckit analysis, the model was estimated by two stages. The results supported that human capital, bequest motives and expected future financial needs were significant factors on both decision to have insurance and the mont of insurance. Specifically, if the household's head expected to have a higher potential in the future, the household was more likely to have insurance. If a household had dependents, the household was more likely to have insurance. As income or monthly expenditure increased, the probability of haying insurance and the amount of the insurance increased However, savings or social insurance were positively related to the purchase of insurance.

Analysis of Withdrawal Strategies in Retirement Assets Reflecting Risk Aversion Based on Programmed Withdrawal (위험회피성향을 반영한 퇴직자산 지급방식 분석에 관한 연구 - Programmed Withdrawal 중심으로)

  • Yeo, Jeong-Mi;Kang, Jung-Chul;Sung, Joo-Ho
    • Communications for Statistical Applications and Methods
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    • v.17 no.5
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    • pp.653-666
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    • 2010
  • Under the retirement pension plan enforced since December 2005, retirees can just choose the payout strategy either of a lump sum allowance or of an annuity in receiving the retirement benefit. Therefore, it is imperative to review and introduce the program withdrawal system enforced by countries with mature pension plan, and complement the limitations of the current payout strategy in the future. In this study, the appropriateness of each of the payout strategies related to the program withdrawal system is examined in terms of shortfall risk and bequest fund per each risk propensity through the expected utility model that reflects the age of the retiree.

The Economic Effects of Tax Incentives for Housing Owners: An Overview and Policy Implications (주택소유자(住宅所有者)에 대한 조세감면(租稅減免)의 경제적(經濟的) 효과(效果) : 기존연구(旣存硏究)의 개관(槪觀) 및 정책시사점(政策示唆點))

  • Kim, Myong-sook
    • KDI Journal of Economic Policy
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    • v.12 no.2
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    • pp.135-149
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    • 1990
  • Housing owners in Korea have a variety of tax advantages such as income tax exemption for the imputed rent of owner-occupied housing, exemption from the capital gains tax and deduction of the estate tax for one-house households. These tax reliefs for housing owners not only conflict with the principle of horizontal and vertical equity, but also lead to resource misallocation by distorting the housing market, and thus bring about regressive distribution effects. Particularly in the case of Korea with its imperfect capital market, these measures exacerbate the inter-class inequality of housing ownership as well as inequalities in wealth, by causing the affluent to demand needlessly large housing, while the poor and young experience difficulties in purchasing residential properties. Therefore, the Korean tax system must be altered as follows in order to disadvantage owner-occupiers, especially those owners of luxury housing. These alterations will promote housing-ownership, tax burden equity, efficiency of resource allocation, as well as the desirable distribution of income. First, income tax deductions for the rent payments of tenants are recommended. Ideally, the way of recovering the fiscal equivalence between the owner-occupiers and tenants is to levy an income tax on the former's imputed rents, and if necessary to give them tax credits. This, however, would be very difficult from a practical viewpoint, because the general public may perceive the concept of "imputed rent" as cumbersome. Computing the imputed rent also entails administrative costs, rendering quite reasonable, the continued exemption of imputed rent from taxation with the simultaneous deduction in the income tax for tenants. This would further enhance the administrative efficiency of income tax collection by easing assessment of the landlord's income. Second, a capital gains tax should be levied on the one-house household, except with the postponement of payments in the case that the seller purchases higher priced property. Exemption of the capital gains tax for the one-house household favors those who have more expensive housing, providing an incentive to the rich to hold even larger residences, and to the constructors to build more luxurious housing to meet the demand. So it is not desirable to sustain the current one-house household exemption while merely supplementing it with fastidious measures. Rather, the rule must be abolished completely with the concurrent reform of the deduction system and lowering of the tax rate, measures which the author believes will help optimize the capital gains tax incidence. Finally, discontinuation of the housing exemption for the heir is suggested. Consequent increases in the tax burden of the middle class could be mitigated by a reduction in the rate. This applies to the following specific exemptions as well, namely, for farm lands, meadows, woods, business fields-to foster horizontal equity, while denying speculation on land that leads to a loss in allocative efficiency. Moreover, imperfections in the Korean capital market have disallowed the provision of long term credit for housing seekers. Remedying these problems is essential to the promotion of greater housing ownership by the low and middle income classes. It is also certain that a government subsidy be focused on the poorest of the poor who cannot afford even to think of owning a housing.

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