• 사회경제평론
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• v.31 no.1
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• pp.63-105
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• 2018

Keynes proposed revolutionary claims in his General Theory that the capitalist economy have the following characteristics: unemployment is general, unemployment could not be automatically restored, business cycle and crisis are inherent in the capitalist economy. Hicks refuted Keynes that unemployment is a special case of depression, and Modigliani argued that it is only valid under a particular assumption of wage rigidity. Also, Pigou and Patinkin contended that unemployment can be automatically recovered in the flexible wages and prices system. These refutations have made the revolutionary reforms appeared in Keynes's General Theory to decline. However, their claims did not correctly interpret Keynes's theories, nor effectively refute them. They interpreted Keynes narrowly within the framework of the classical tradition and refuted Keynes using the claims of the classics. The revolutionary nature of Keynes's General Theory could be not undermined by their refutation, but rather may be more useful in analyzing today's economic reality.

• Journal of Korean Society of Transportation
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• v.19 no.6
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• pp.89-102
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• 2001

Using a multiproduct translog cost function model, this paper examines the existence or absence of scale and scope economies in Seoul's urban bus industry. The Paper then conceptualizes that the bus firm produces three outputs (city, seat and local bus-kilometers) using low input factors(labor, capital, fuel and maintenance). Using 1996 annual observations for 81 Seoul's bus firms, the equation system consisting of a cost function and three input share equations is estimated with the nonlinear iterative Zellner method. The findings show that the cost function corresponding to a non-homothetic production technology with separability between local bus outputs and inputs adequately represents the structure of cost for Seoul's bus firms, and that the demand lot all input factors is quite inelastic with respect to their own price. On the other hand, nearly all firms experience mild overall economies or scale, but rather marked product-specific economies of scale with respect to all the three outputs. In addition, there appear to be substantial economies or scope associated with the joint production of city and seat bus services, while considerable diseconomies of scope associated with that of city and local bus services. These results indicate that the merger of smaller firms into larger firms with a fleet of approximately 200 buses would result in more cost-efficient bus services.

• International Area Studies Review
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• v.15 no.3
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• pp.239-261
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• 2011

The cyclicality of productivity has been one of the essential issues in macroeconomics. Since Solow(1957) developed the dominant approach to the measurement of productivity growth, Solow's approach, which assumes the perfect competition, the constant returns to scale, and the full use of input factor has been modified particularly in Hall's(1990) and Basu's(1996) works. Their researches take account of market power, returns to scale, and variable factor utilization. This paper establishes the empirical model based on Hall's(1990) and Basu's(1996) models, estimates 4 types of Solow's reidual in manufacturing and 2 service industries over the period 1975:1-2010:4, and analyzes the cyclicality of measured productivity. The result proved the measured productivity to be procyclical in manufacturing industries and electricity and water industry, and in contrast to the Basu's, the variable factor utilization transformed the countercyclicality of measured productivity into its procyclicality in the Korean economy.

• Korean Association of Arts Management
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• no.55
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• pp.5-38
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• 2020

This study focuses on the emergence of "hobby-preneurs" and the ways in which they are transforming the virtuous cycle of arts and cultural ecology. The hobby-preneur pursues and expands his or her favorite hobby into a professional job and/or arts business. Hobby-preneurs are the new driving force in the arts and cultural industry. Their activities enhance the arts as a public good even as they build valuable social capital for arts organizations and have a profound impact on supply and demand in the arts and cultural marketplace. Thus we found that by injecting and potentiating certain values that professional artists cannot directly deliver to arts consumers, hobby-preneurs function as major intermediaries in the virtuous cycle of arts and cultural ecology. To understand more about these emergent actors we examine their personal, social, and economic values and how these values guide their arts-related activities and thereby impact the ecology of the arts and cultural sector. In this study we use a phenomenological approach to investigate five hobby-preneurs and the particular ways their acquisition of professionalism is transforming the arts education node of the virtuous cycle in the creative sector.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.1
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• pp.175-185
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• 2015

This article focuses on an analysis of entrepreneurship education programs at U.S. college and universities in order to determine distinctive features of those programs. To this end, we delved into the entrepreneurship programs including Martin Trust Center for MIT, Harvard University VIP program, Polsky Center of Chicago University and Stanford University program. By analyzing major roles, curriculums, and characteristics of the programs, three types of distinctive features emerged. The first feature is dynamic education-focused programs, which provide students with opportunities for applying what they have learned through startup competitions. The second is local-based programs, which take the lead in local startups by focusing on the local industry. The third is the programs with support and encouragement for startups. Based on the three types of features, we suggested critical factors for successful entrepreneurship education.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.53-63
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• 2006

Since 2005, the government began to introduce and promote a new project delivery system, BTL(Build, Transfer, and Lease), in order to provide high level of public services for the upgraded quality of life and to boost the domestic and local construction economy. However, the lack of experiences in the new system by the constituents from diverse economic sectors brought a number of drawbacks from each constituent's perspective such as improperly low earning rate, excessive expenses for preparation of the project proposal, imbalanced regulations, heavy cost and procedures to establish SPC, the ineffective structure of the consortium, the short-term oriented evaluation criteria for the selection and so forth. These drawbacks turned out to be obstacles for the successful BTL projects. Hence, this paper analyzes the above issues and conducts the interviews with the professionals from the diverse sectors in order to propose the changes to resolve those for the improvement and finally to deliver the successful BTL projects for the diverse public owners.

• Korean journal of communication and information
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• v.71
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• pp.157-193
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• 2015

The purpose of this study is to critically interpret generational trends in contemporary Korea through understanding the consumer experiences of luxury bag purchases of women in their late 20s and early 30s. Previous studies on luxury consumption tend to focus on an analysis of the value of luxury products as a sign and a symbol, the characteristics or class identity of luxury consumers, or expressive behavior in terms of ideal self-image. While including these factors, this study also expands the scope to a reflexive understanding of the social structural context behind the phenomenon of personal consumption. This was achieved by considering consumption in terms of the style and practice of everyday life, as well as its opportunities and limitations. In particular, we pay attention to how luxury bags are reproduced as media, which is a process that is circulated back to consumption, and through this process, this study reflects on capitalist life and subjects.

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.47-61
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• 2020

Purpose - This study investigates the relationship between firm-specific, general human capital and corporate innovation performance. Also, we examine when this relationship is more salient. Design/methodology/approach - We collected 1,195 survey data related to a sample of corporate innovation performance and human capital from 1) Korea Research for Vocational Education and Training and 2) NICE information service in Korea. In order to examine the corporate innovation performance, we use the ordered logit model. Findings - First, we find robust supports for our hypothesis that firm-specific and general human capital increase corporate innovation performance. Second, the effect of general human capital on corporate innovation performance is stronger when this relationship is combined with the firm international experience. Research implications or Originality - By integrating the human capital theory and corporate innovation literature, we propose that firm-specific and general human capital are the important determinant of innovation performance. The firm-specific human capital may increase innovation efficiencies. Also, retaining higher-quality general human capital is considered as an important innovation strategy since firms with higher-quality general human capital make greater innovation performance. Further, we show that the firm international experience is the crucial boundary condition. As a firm's experience in internationalization increases, firms can enhance the opportunities to develop new products by combining the skills and knowledge derived from general human capital with the experience gained through internationalization.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.1
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• pp.420-426
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• 2018

The purpose of this paper is to examine the business cycle in the Jeju region and what differences exist in relation to the nation as a whole, to calculate the relative importance between the random walk stochastic trend and cyclical factor, and to find out its causes and implications. Results of empirical analysis found that the characteristics of the business cycle in the Jeju region were as follows: First, the Jeju region, which is likely to have a growth component of the economy such as technological development and the accumulation of capital, was projected to have a possibility of high growth due to a greater proportion of the stochastic trend factor(46.8%) than the entire country(27.8%). Secondly, employment fluctuation in Jeju, which varies from 0.007 to 0.058 depending on the model, was lowest compared to the fluctuation of other indicators. The employment market in Jeju remained firm, showing that it is not smooth enough to create new jobs despite the production growth in industry. Third, the tourism industry was acting as a stabilizing factor, whereas the mining and manufacturing production was the opposite of tourism industry. This implies that the mining and manufacturing production was based on a weak foundation.

• Proceedings of the Korean System Dynamics Society
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• 2005.10a
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• pp.23-42
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• 2005

세계 각 국은 자국의 이익을 보장하기 위해 방위산업의 기반을 강화하고 있고 갈수록 첨단무기체계를 도입 및 개발하고 있는 추세이다. 왜냐하면 방위산업은 평화와 군비경쟁이 공존하는 '균형속의 대결' 양상을 보이는 환경에서 자국의 생존을 위한 중요한 변수이기 때문이다. 한국의 방위산업도 1970년대 이후 괄목할 만한 성장을 이루었으나 구조적인 문제점을 탈피하지 못하였고 이제는 한계점에 도달하였다. 많은 방위산업 분야 전문가들은 현 시점에서 한국 방위산업의 발전과 활성화를 위한 방안들을 제시하였고, 정부에서도 자주국방의 기치 아래 다양한 개혁과 정책을 추구하고 있다. 그러나 대부분의 전문가 제시 내용과 연구 논문들은 방위산업의 대해 제한적으로 정성적인 분석과 대안제시에 국한되어 있는 수준이고 시스템 사고를 통해 인과관계를 분석하여 정책적인 대안을 제시하는 부분이 미흡한 실정이다. 따라서, 본 연구 논문에서는 방위산업의 전반적ㅇ.ㄴ 핵심요인을 식별하고 각 요인들간의 인과관계를 분석하여 한국 방위산업의 인과지도를 제시하였고 이를 통해 구조적인 문제점들을 해결하여 21세기 협력적 자주국방이 가능하도록 정책적인 대안을 제시하였다. 본 논문은 향후 복잡성이 가속화되는 방위산업에서 시스템적 사고를 이해하는데 기여가 될 것이고, 정책을 결정하고 추진하는 의사결정자와 무기체계 획득업무를 담당하는 실무자들에게 반드시 시스템적인 사고에 바탕을 둔 피드백 로프를 고려해야 한다는 것을 인식시킬 수 있을 것이다. 아울러 한국 방위산업의 활성화와 발전에 기여하리라 믿는다.정보통신산업을 미시적 분석이나 세부 항목별 정량적 분석을 통해서가 아니라 산업의 발전 속성 및 경기 순환 등의 관점에서 분석함으로써 정보통신산업 정책의 수립 및 집행을 거시적 안목 하에 정립할 수 있게 한다는 데 의의를 가진다. 또한 경제변수를 묘사하는데 있어 국면전환 확산과정을 사용함으로써 향후 실물옵션 등을 통한 기술 및 무형자산의 가치평가에 있어 기초자산의 움직임을 보다 정확히 포착해 낼 수 있는 프로세스를 제공하였다는데 또 다른 의의를 갖는다고 하겠다. 수 있다. 따라서 성장 ${\cdot}$ 고용 ${\cdot}$ 분배의 조화는 바로 노동효율 증가형 기순혁신이며, 이를 위한 인적자본에의 투자라고 말할 수 있다. 본 연구가 기술경제 패러다임(techno-economic paradigm)의 시각에서 제시하는 한국경제의 성장 ${\cdot}$ 고용 ${\cdot}$ 분배를 위한 정책방향은 다음과 같은 동태적발전과정으로 요약할 수 있다 : 기초과학연구능력 확충 ${\rightarrow}$ 소화 ${\cdot}$ 흡수 ${\cdot}$ 개량 ${\rightarrow}$ 토착화 능력의 배양 ${\rightarrow}$ 자체기술개발, 선진기술 도입, 산업간 및 산업내 기술확산, 국제기술협력 ${\rightarrow}$ 기술혁신의 촉진 ${\rightarro