• Economic Analysis
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• v.25 no.2
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• pp.132-176
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• 2019

We use a time-varying parameter vector auto regression (TVP-VAR) model to understand the impact of U.S. monetary policy normalization on Korean financial markets and capital accounts. The U.S. monetary policy is represented by the federal funds rate, term premium and credit spread. During the U.S. monetary contraction period of 2004 to 2006, changes in the federal funds rate presented negative pressure on Korean financial markets. The changes in federal funds rate also led to a simultaneous contraction in inward and outward capital flows. However, the effects of a federal funds rate shock has been reduced since 2015. On the other hand, the effects of U.S. term premiums is getting stronger after the period of quantitative easing (QE). The influence of the U.S. credit spread also significantly increased after the global financial crisis. Simulation results show that a rise in the U.S. credit spread, which can be triggered by a contractionary monetary policy, can pose a larger adverse impact on the Korean economy than a rise in the federal funds rate itself. As for capital flows, a U.S. monetary policy contraction causes an outflow of foreign investment, but the repatriation of overseas investment by Korean residents can offset this outflow.

• Electronics and Telecommunications Trends
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• v.10 no.2 s.36
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• pp.163-177
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• 1995

급격히 신장하고 있는 전파응용 서비스의 질적, 양적인 수요를 충족시키기 위하여 세계 각 국은 나름대로의 전파 관리 체계를 운영함으로써 전파자원 이용 효율의 극대화를 추구하고 있다. 이와 때를 같이하여 국내에서도 전파응용 산업의 활성화를 위하여 각종 규제의 완화 및 적극적인 연구개발 투자가 이루어지고 있다. 특히 전파자원의 국제적 이용이 확산되고 있는 시점에서 전파자원 이용의 올바른 정책방향 수립이 요구된다 하겠다. 이 글에서는 국내의 전파관리제도 현황과 미국, 일본, 영국, 독일의 주파수 관리제도, 관련조직 구성, 업무분장 등을 살펴보고 향후 우리나라의 전파관리제도의 발전방향에 대한 의견을 제시하였다.

• International Area Studies Review
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• v.14 no.3
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• pp.221-246
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• 2010

The paper is basically attempted to reveal a mechanism of exchange rate determination in global foreign exchange markets. For a theoretical framework, uncovered interest rate parity(UIRP), covered interest rate parity(CIRP), and real interest rate parity(RIRP) are tentatively adapted, and GARCH-M model is employed for an econometric methodology. Empirical evidence shows that the UIRP is superior to others, and the RIRP is better than the CIRP in explaining how exchange rates are determined in global exchange markets. All of them, however, is not fully supported by economic theories. Following Frankel(1989), country premium, volatility premium, and currency premium are evaluated to see if which premium is a crucial in disturbing the RIRP, and it is found that country and currency premiums are a major components in disturbing the RIRP. To this end, market-oriented and market-determined systems has to be built to avoid currency disputes which is undergoing hot issue in global foreign exchange market.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.161-166
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• 2021

The macroeconomic concept represents the movement of a country's economy, and it affects the overall economic activities of business, government, and households. In the macroeconomy, by looking at changes in national income, inflation, unemployment, currency, interest rates, and raw materials, it is possible to understand the effects of economic actors' actions and interactions on the prices of products and services. The US Federal Reserve System (FED) is leading the world economy by offering various stimulus measures to overcome the corona economic recession. Although the stock price continued to decline on March 20, 2020 due to the current economic recession caused by the corona, the US S&P 500 index began rebounding after March 23 and to 3,694.62 as of December 15 due to quantitative easing, a powerful stimulus for the FED. Therefore, the FED's economic stimulus measures based on macroeconomic indicators are more influencing, rather than judging the stock price forecast from the corporate financial statements. Therefore, this study was conducted to reduce losses in stock investment and establish sound investment by analyzing the FED's economic stimulus measures and its effect on stock prices.

• International Area Studies Review
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• v.20 no.2
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• pp.3-23
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• 2016

In this study, we used actual proof analysis, based on SVAR model according to economy theory, to observe the impact of actual and financial market of Korea, Japan, and China that have adopted quantitative easing export based strategy of growth, an unconventional monetary policy of the U.S. As a result of estimation, it appears that real effective exchange rate rise shock of Korea, Japan, and China against U.S. dollar has a negative influence on current account and index of industrial product, which are real economy. It can be implied that the result is driven from the fact that strong home currency of Korea, Japan, and China decreases price competitiveness of exports, causing negative influence on real economy. The real effective exchange rate shock against U.S. dollar appeared to decrease national bond rate of Korea and Japan, while increasing that of China. In instances of Korea and Japan, it is implied that national bond rate decreases as foreigner investment funds flow in, considering foreign-exchange profit through advanced financial market with high opening extent. On the other hand, because there are strong regulation on opening extent of Chinese financial markets, the influence seems to be greater for domestic policy, rather than a foreign influence. Lastly, Korea showed a more dramatic variable reaction to exchange rate shock compared to Japan or China. It is implied from the result that Korea is relatively more susceptible and fragile in regards of international status of economic size and currency.

• 한국사회정책
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• v.25 no.4
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• pp.301-321
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• 2018

The purpose of this paper is to analyze whether any combination of the quantitative and qualitative aspects of the public pension system is a causal factor for the elderly poverty reduction rate. For this, fuzzy-set qualitative comparison analysis was conducted with the poverty reduction rate as the outcome condition variable, the public pension expenditure ratio, the redistributive index, the first floor public pension weight, the second floor public pension weight and the second floor forced private pension weight did. As a result of the analysis, the combination of high public pension expenditure ratio, low two - tier public pension share and high two - tier compulsory private pension share has become a cause of high poverty reduction rate of the elderly. And more various forms of association were found as the cause of low poverty reduction rate of the elderly. This paper suggests policy proposals based on the above findings.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.1
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• pp.1-18
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• 2011

This paper explores changing concept of city in the context of globalization with innovation city and examines the characteristics of innovation city along with regional and national competitiveness. It is agreed that construction of innovation city by relocation of public institutions for balanced development of the country has valid logic. However, there are weak possibilities of innovation within the innovation city. Further more it is not a proper solution for the level up of national and regional competitiveness through this policy. The main logic is that physical relocation of institutions do not guarantee innovation of region through integration into globalization network resulting from the scale difference between nation and globe. Rather this paper suggests that regional innovation policy should performed in accordance with regional conditions and for the better competitiveness of nation and region, decentralization of power is needed. Then a region could have connection with global pipeline based on endogenous development power.

• Journal of Korea Technology Innovation Society
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• v.21 no.3
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• pp.938-968
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• 2018

Korea's basic research has been rapidly expended in both quantative and qualitative aspect since establishment of 'the Korea Science & Engineering Foundation' in 1977, proclaiming of 'the First Year of Basic Research Promotion' and enactment of 'the Basic Sciences Promotion Act' in 1989. Despite the continuous increment of government basic research funding, the problem of low perceptions of university researchers on the funding increment has been constantly raised. Based on an intrinsic review on the core issues are diagnosed based on Korean academics' basic research status analysis and future challenges are proposed based on the precedent diagnoses. The six key issues that need to take the next step in Korean academics' basic research are as follows: (1) basic research investment in universities, (2) appropriate research expenses for supporting individual researcher, (3) basic research funding allocation method, (4) maintaining the sustainable success rate of research projects, (5) systematic and strategic support for excellent researchers, (6) creating research-immersive environment. The five challenges to promote basic research in academics are as follows: (1) increasing in university research expenses, (2) diversification of basic research funding allocation method, (3) establishment of research field-specified support system and predictable principles, (4) stable and sufficient support for outstanding researchers, (5) reducing burden on research administration.

• Journal of Hospice and Palliative Care
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• v.11 no.4
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• pp.196-205
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• 2008

Purpose: The purpose of this study was to evaluate the current status of hospice palliative care facilities, and to identify problems and improve hospice palliative care in Korea. Methods: The questionnaire survey was implemented from October to December, 2007. It was consisted of general characteristics of organization, health manpower, facilities & equipments, service programs, and so on. Sixty two (79.5%) out of 78 hospice palliative care facilities returned the questionnaires. Results: They were 42 hospital-based hospice palliative care hospitals and 9 clinics, and most of them are located at central metropolitan areas (Seoul and Gyeonggi Province). more than 80% of hospitals met with the requirements (one doctor per 10 patients and one nurse per 1.5 patients), whereas 42.9% of clinics met the requirements. Approximately 22% of them met the requirement of sick room (4 patients for 1 room). Most of them provided various hospice palliative care programs. The proportion of giving regular education programs to hospice palliative care personnels were about half (41.9%). Thirty two (51.6%) facilities provided home visiting hospice palliative care service. Conclusion: There were lack of enough health manpower, rooms, and programmes and they varied among facilities. It is necessary to increase the number of hospice palliative care facilities with consideration of regional fair distribution and standardization of programmes.

• Journal of the Korean Institute of Landscape Architecture
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• v.47 no.2
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• pp.100-116
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• 2019

Urban green spaces, as a means to mitigate social problems and environmental risks, are getting more attention in evaluating urban environment. The inequity of green space distribution is becoming a major issue in urban planning and management. This study investigated the characteristics of green space in 3 districts (Jung-gu, Dongdaemun-gu, Seongdong-gu), that are composed of 46 administrative divisions in central Seoul, to analyze the environmental equity of urban green spaces. The correlations between the amount of green space, including the coverage of street trees, and the socioeconomic status of each administrative division were analyzed. To deduce the effects of plant coverage on the urban temperature regime, the relationship between the normalized difference of vegetation index (NDVI) and land surface temperature (LST) was analyzed. The research revealed that the mean NDVI of an administrative division was negatively correlated with the percentage of basic living recipients and disabled people. The LST of a division with low NDVI was higher due to the lack of green coverage. Such environmental inequities were closely related to residential building type, which was strongly affected by the economic status of residents. The LST of an apartment area was $2.0^{\circ}C$ lower than that of single-family houses and multi-housing areas. This is expected as the average NDVI of the apartment area was more than twice as high as the other environments considered in this study. The inequity can be exacerbated without urban planning which is deliberately designed to reduce it.