• Journal of Navigation and Port Research
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• v.36 no.3
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• pp.149-155
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• 2012

This study primarily analyzed the use of shipping companies' welfare program by the characteristics of crew's demography and working condition on board, and next examined the effect of the satisfaction to the program on the organizational commitment and job satisfaction to the companies, in order to survey the shipping companies' welfare reality which has performed an influential role to meet the various welfare needs of personal crew. According to the findings in the recent survey of 459 seamen on board, there are differences among the use of the program by crew's the tolerance to work on board and personal characteristics, for example, age, marriage, position, period on board, and years of service. Moreover, the study verified the fact that the higher satisfaction to the use of those program, the higher organizational commitment and job satisfaction of crew.

• KDI Journal of Economic Policy
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• v.35 no.3
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• pp.1-38
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• 2013

This study investigates the welfare implications of BTL projects using a general equilibrium model with the public sector and public-private partnerships. We show that when the government is not allowed to run budget deficits but private firms is able to overcome the financial constraint, BTL projects performed by public-private partnerships (PPPs) could be a good alternative and improve the welfare of the model economy. This paper quantitatively investigates excessive expansion of PPP projects and several alternatives to retrieve welfare losses caused by such an expansion. Assuming that future rents of BTL projects are not taken into account, we find the welfare losses up to 20 percent relative to conventional government projects. Finally, we show that it would be possible to reduce the losses by transforming the fully depreciated capital stock of the government projects into much smaller new PPP projects.

• Environmental and Resource Economics Review
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• v.17 no.2
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• pp.235-254
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• 2008

This study analyzes the economic effects of reduction of green-belt. Green-belt is a kind of land which is restricted to be developed into housings. It is important for social welfare. It affects the social welfare by two routes. One way is through the housing market process. Development of green-belt into housings increases housing supplies and lowers rents. The other is that it improves the living condition by increasing green spaces. Therefore, the development of green-belt to housing can Improve or worsen the social welfare. This paper analyzes its welfare effects by simulations. The results of the paper show that reduction of green-belt increases housing supply and lowers the rent and asset prices. The social welfare is improved in the model.

• Journal of Labour Economics
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• v.26 no.2
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• pp.31-59
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• 2003

This paper analyzes a social insurance system that integrates unemployment insurance with a pension program, allowing workers to borrow against their future wage income to finance consumption during an unemployment episode and thus improving their search incentives while reducing risks. This paper identifies the conditions under which the integration improves welfare and the factors which determine the optimal degree of integration. A fully integrated system is one in which no reliance is placed at all on a separate tax-funded unemployment insurance program. We show that when the duration of unemployment is very short compared to the period of employment or retirement, the optimal system involves an exclusive reliance on pension-funded self-insurance. This system imposes a negligible risk burden for workers while avoiding attenuating search incentives. We also argue that a joint integration of several social insurance programs with a pension program through an individual account is desirable unless the risks are perfectly correlated to each other.

• The Journal of the Korea Contents Association
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• v.13 no.2
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• pp.378-389
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• 2013

Health care expenditure might be understood as a core source of social welfare. It is mainly due to the fact that the health care expenditure is closely related to the level of social welfare. And, therefore, the paper is basically designed to investigate the effect of social welfare improvement resulted from an increasing in per capita, private, public, and total health care expenditures during 1995-2009 periods. Empirical evidence reveals that the improvement of social welfare in middle income group reveals the highest improvement in social welfare, and the other income groups maintain a quite similar pattern in improvement of social welfare. As far as category of health care expenditure concerns, the effect of social welfare improvement by per capita health care expenditure is in general lower in all case. And, private sector achieves the highest improvement of social welfare in comparing with public and total health care expenditures. To this end, it could be tentatively concluded that the private health care expenditure has to be substituted for the public sector to induce market-oriented operational system. Accordingly, it would be better to build an institutional basis more elaborately in setting up the market system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.6
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• pp.41-47
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• 2017

This study is an empirical analysis of the welfare of small and medium venture company trade. In the past, although the study analyzes the trade welfare for representative firm, this research is focusing on the distribution of an entire industry of companies analyzed. In this study, medium-to venture enterprise-scale for logarithmic normal distribution and Pareto distribution is estimated, and this study investigates the trading welfare changes. Results of the analysis can be summarized as follows. First of all, greater trade benefits enterprise-scale heterogeneity appeared to be significant. The result of this finding appeared to be the same to large firms as well as small and medium ventures. Trading welfare, assuming the distribution of Pareto rather than logarithmic normal distribution it's supposed to be overwhelmingly large. Secondly, the case of large corporations shows the more trade welfare than that of small and medium venture companies. Third, assuming homogeneous distribution of enterprise-scale trade welfare differences did not exist. Finally, from the point of view of increasing the welfare of trade, the diversity aiming of venture business is a very important role in the long term, because of the small and medium-sized ventures trade role.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.37 no.6B
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• pp.453-463
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• 2012

The Effect of asymmetric interconnection charge is different between where the retail price of incumbent is regulated and that of incumbent is not regulated. When the retail price of incumbent is not regulated, the brand loyalty and the relative magnitude of each marginal cost determine the effect of consumer surplus. However, when the retail price of incombent is regulated, network substitution effect also plays a important role to the consumer surplus. The higher the brand loyalty, the lower the network substitution effect, or the higher the marginal cost of the entrant, the social welfare through the asymmetric interconnection charge is more increased. In the other cases, the consumer surplus might be decreased.

• Environmental and Resource Economics Review
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• v.29 no.1
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• pp.47-89
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• 2020

We introduce a simple theoretical model to analyze the welfare impact of a competition policy in the natural gas market in South Korea. An incumbent monopolistic firm currently owns essential facilities, but the competition policy mandates that the firm provide open access to any entrant firm, charging an access fee. When no regulation is imposed on the fee pricing, this policy increases social welfare as well as the profit of the incumbent firm. When the pricing is regulated, however, social welfare depends on whether there is information asymmetry between the government and the firm regarding the operating cost of the facilities. If the government has complete information, social welfare can be maximized by choosing the optimal prices. Otherwise, the government has to set the prices based on the information that the firm delivers. We formulate a Bayesian game to analyze this case and identify a set of perfect Bayesian equilibria to compare social welfare.

• Environmental and Resource Economics Review
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• v.21 no.1
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• pp.93-127
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• 2012

We estimate how much KEPCO can save their loss and how much social welfare can be increased by applying the real-time pricing instead of current regulated retail price in the electricity market in order to analyze the problem of the regulated retail price which is fixed below the marginal cost. We estimate the demand functions of peak time and off-peak time in summer (June to August) and winter (December to February). We construct the supply function based on hourly step-wise linear marginal cost functions, too. We find that the increase of social welfare will be 67 billion won in summer if the fixed retail price is changed into the real-time pricing scheme. The total 705 billion won will be transferred from consumer surplus to producer surplus and the rest (67 billion won) will be saved from the reduction of deadweight loss among KEPCO's loss. In winter, the increase of social surplus will be 225 billion won and 1,174 billion won of KEPCO's loss will be transferred from consumer surplus. As a result, we conclude that the regulation of the retail price in the electricity market induces the social welfare loss and KEPCO suffers a huge loss.

• Proceedings of the KIEE Conference
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• 2007.07a
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• pp.846-847
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• 2007

재무적 송전권을 소유한 발전사는 송전권 시장에서 얻는 이득을 고려하여 전략적으로 발전량을 결정한다. 그러므로 경쟁의 균형에서 사회적 후생은 송전권과 밀접한 관련이 있다. 본 연구는 에너지시장과 송전권시장이 결합된 전력시장을 모형화하여 시장참여자의 최적화 문제를 소개한다. 그리고 단순한 사례모형을 활용하여 사회적으로 바람직한 송전권 소유에 대해 분석을 시도한다.