• Korea journal of population studies
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• v.28 no.2
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• pp.1-32
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• 2005

The optimum population of a society or country can be defined as 'the population growth path that maximizes the welfare level of the society over the whole generations of both the present and the future, under the paths allowed by its endowments of production factors such as technology, capital and labor'. Thus, the optimum size or growth rate of population depends on: (i) the social welfare function, (ii) the production function, and (iii)demographic economic interrelationship which defines how the national income is disposed into consumption(birth and education of children included) and savings on the one hand and how the demographic and economic change induced thereby, in turn, affect production capacities on the other. The optimum population growth path can, then, be derived in the process of dynamic optimization of (i) under the constraints of (ii) and (iii), which will give us the optimum population growth rate defined as a function of parameters thereof. This paper estimates the optimum population growth rate of Korea by: specifying (i), (ii), and (iii) based on the recent development of economic theories, solving the dynamic optimization problem and inserting empirical estimates in Korea as the parametric values. The result shows that the optimum path of population growth in Korea is around TFR=1.81, which is affected most sensitively, in terms of the size of the partial elasticity around the optimum path, by the cost of children, share of capital income, consumption rate, time preference, population elasticity of utility function, etc. According to a survey implemented as a follow up study, there are quite a significant variations in the perceived cost of children, time preference rate, population elasticity of utility across different socio-economic classes in Korea, which implied that, compared to their counterparts, older generation and more highly educated classes prefer higher growth path for the population of Korea.

• Environmental and Resource Economics Review
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• v.18 no.3
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• pp.495-521
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• 2009

This paper measures welfare losses from beef consumption reduction, which might be resulted from psychological anxiety about potential outbreak of BSE (commonly known as "bad cow dieses") risks after announcement of resuming US-beef imports in April of 2008. Unlike the previous literature of utilizing the contingent valuation method or experimental market approach, this study estimated quality-differentiated consumer demand functions using the information of self-reported beef consumption quantity, individually constructed price indices of beef, and subjective perception of BSE risks. The empirical results based on a survey sample of 360 residents in Jeon Ju city were consistent with the anticipation from economic theory, in terms of coefficients of own prices, substitute prices and income variables. The announcement of resuming US-beef imports did not make significant differences in the sign and sizes of the main economic variables. However, the subjective perception variable about BSE risks had negative significant impacts on beef demand functions after the announcement but not significant before the announcement. The welfare losses in a form of equivalent variation (EV) corresponding to the increases in concerns about BSE risks were measured to be about 30 thousand won per household.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.71-102
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• 2014

This paper examines the possibility of 'parallel reimportation', the reimportation of goods originally produced in the country and exported to another country by profit-pursuing arbitrageurs. The chance of parallel reimportation implies unusually high level of market power of domestic enterprises, and promoting parallel reimportation can be an effective welfare-enhancing, competition-generating policy for the situation. Motivated by the finding, this paper proposes a methodology to measure the welfare effects of parallel reimportation. Specifically, this paper makes use of a structural empirical model to estimate the demand and supply system of Korean automobile market for performing a counterfactual experiment to measure the welfare effects of the parallel reimportation. The results indicates that parallel reimportation can enhance social welfare considerably by increasing consumer surplus and government tax revenue altogether, though it reduces the producer surplus.

• Journal of Korean Society of Transportation
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• v.24 no.7 s.93
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• pp.139-148
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• 2006

In order to incorporate substitution effects between different transport modes in optimal road Pricing, relating economic theories and models have been reviewed. It includes unconstrained optimization problem of maximizing separable and non-separable social net benefit functions of different substitutable urban transport modes. In doing that, the problem and limitations such as path-independent conditions with the asymmetric Jacobian of the objective function have been reviewed. Consequently, a plausible way of deriving optimal road price under interdependent market conditions has been suggested so that the idea can help identifying desirable and acceptable urban transport policy alternatives in a more comprehensive way.

• Journal of Labour Economics
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• v.30 no.1
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• pp.55-83
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• 2007

This paper examines the welfare aspects of loan-based self-insurance against unemployment, and discusses the scope of government intervention in its provision. This paper deals with these issues in a model where the individuals may experience unemployment shocks frequently to leave little savings for retirement, so that the government may have to provide them with unemployment and retirement insurance benefits during their unemployment and retirement, respectively. We identify the two interesting features in the model: the externality that the self-insurance exerts, upon other social insurances, and the incentive of private sector to provide loans that exerts the externality upon other social insurances. In particular, this paper shows that, although the inefficiency associated with private loan warrants the government provision of loans to unemployed workers, the over-incentive of the private sector to offer loans may reduce the scope of the government intervention. This paper also shows that, unless the inefficiency associated with private loans is high, the private incentive for loans would reduce welfare because of the externality generated by private loans.

• Environmental and Resource Economics Review
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• v.27 no.1
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• pp.1-28
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• 2018

This study investigates the strategic environmental corporate social responsibility (ECSR) of polluting duopoly when two firms have different production costs and compete with prices. We then examine an endogenous timing game in choosing ECSR and its effects on environmental damage and social welfare. The followings are the main findings: First, sequential choice of ECSR is strategic complements and it provides late adopter advantage irrespective of cost difference. Second, sequential choice of ECSR is the equilibrium of endogenous timing game. In particular, an efficient firm-leading ECSR is the payoff dominance equilibrium when cost difference is significant. Finally, environmental damage and social welfare depend on the social cost of pollution. In particular, an efficient firm-leading ECSR is socially desirable when social cost is high. However, an inefficient firm-leading ECSR increases environmental damage irrespective of social cost and it reduces social welfare when cost difference is significant.

• Proceedings of the Safety Management and Science Conference
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• 2010.04a
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• pp.315-316
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• 2010

이 논문은 최근 들어 국민들의 행복감(happiness)이 어떻게 변화되어 왔는지에 초점을 두고 있다. 최근 연구논문들을 살펴보면, 미국과 영국의 경우 경기침체 등의 영향으로 국민들이 체감하는 행복감 수준이 정체내지는 줄어든 것으로 보고 되고 있다. 미국의 경우 1970년대 이래 최근 들어 여성들이 느끼는 행복감은 가장 큰 폭의 감소세를 보이고 있는 것으로 조사되고 있다. 이러한 행복감 상실의 가장 큰 주된 요인은 경기침체 등에 따른 실업률(unemployment)과 이혼 등에 따른 것으로 알려지고 있다.

• Journal of Teachers' Pension
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• v.4
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• pp.57-90
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• 2019

본 연구는 사학연금의 장기적 재정건전성을 확보하기 위한 재정추계 및 정책평가 방법에 관하여 논의한다. 먼저 재정안정화 시나리오의 설정에 있어서 기간간 예산제약식을 이용하여 장기적으로 균제상태(steady state)를 달성할 수 있는 납부율 및 급여율의 선정이 어떻게 이루어질 수 있는지 살펴본다. 또한 재정추계에 있어서 정책 변화에 따라 개인들의 행동 패턴이 달라질 가능성이 있음을 강조하고, 조기퇴직 결정에 관한 캘리브레이션을 통해 재정추계에서 내생성에 대한 고려가 어떻게 이루어질 수 있는지 예시한다. 마지막으로 힉스 보상의 개념에 기초하여 안정화 정책에 대한 평가가 연금 재정지표에 미치는 효과만이 아니라 가입자 / 수급자의 후생에 미치는 영향까지 같이 고려하여 이루어질 필요가 있음을 설명한다.

• Environmental and Resource Economics Review
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• v.14 no.1
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• pp.221-235
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• 2005

In this paper, we analyzed the dynamic structure of optimal tariff levied on importing non-renewable resources such as petroleum, iron, coal, etc. According to the previous literature that have studied this objective, the time inconsistent open loop tariff has been suggested to be imposed in order to improve the welfare level of importing country. We set up the efficient model to identify how to impose the optimal tariff over time. Based on this model, we have found that the previous literature ignored that the costate variable for the stock for non-renewable resource decomposed between the scarcity effect and the cost effect. On the basis of the role of costate variable, we, however, have found that the proposition of the previous literature has led into errors. Hence, we suggest that the dynamically consistent open loop tariff for non-renewable resources would improve the welfare level of importing country.

• Environmental and Resource Economics Review
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• v.17 no.2
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• pp.313-326
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• 2008

This paper is concerned with the effect of an increase in the import price of LNG on the Korean economy and industries. A computable general equilibrium analysis is applied to compute the comparative-statical effect of 10% rise of LNG price. The price increase places relatively heavy burden on the city gas, oil products and thermal power, decreasing their outputs and domestic sales by relatively larger percentages than other industries. The 10% increase in the LNG price reduces GDP by 0.4% and raises the general price level by 0.08%. The increase in oil price resulting in the same decreasing rate of GDP caused by the 10% LNG price rise turns out to raise the general price level and reduce the consumer's welfare in terms of equivalent variation by less percentage than the increase in LNG price.