• Title/Summary/Keyword: Demand and Supply Model

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An Economical Efficiency Analysis of Fostering Program on Leading Company in Sport Industry (스포츠산업 선도기업 지원사업의 경제성 분석)

  • Ahn, Byeong-Il;Choi, Gyu-Seong;Ko, Kyong-Jin
    • 한국체육학회지인문사회과학편
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    • v.57 no.6
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    • pp.123-134
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    • 2018
  • The purpose of this study is to analyze the economic efficiency of the policy implemented by Ministry of Culture, Sports and Tourism on leading company in sport industry. The leading companies in sport industry are those who have a certain amount of sales in sport industry and the ones with potential to become global companies. Supporting areas include business advancement, overseas market development, and overseas PR marketing integration support. The research is performed by developing the equilibrium model composed of supply as well as demand and applying input-output analysis. The economic efficiency is estimated to in the form of changes in the sales of corporations and the ripple effect of the national economy. The results of the study are as follows. First, it is estimated that the sales growth rate of the company due to the implementation of the policy is from 3.74% to 5.19%. Second, the increase in sales reaches to a maximum of KRW 4,081 billion with a minimum of KRW 1,573 million, depending on the size of the company. Third, it is estimated that the production inducement effect for the national economy is from KRW 36 billion to KRW 93.4 billion. Fourth, the induced value added for the national economy is estimated to be at least KRW 11.3 billion, up to KRW 29.2 billion.

An Empirical Analysis on the Production and Price Effect by Agricultural Disaster Insurance (농업재해보험의 생산량 및 가격 효과에 관한 실증분석)

  • Han, Sungmin
    • KDI Journal of Economic Policy
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    • v.36 no.4
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    • pp.135-169
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    • 2014
  • This study empirically analyzes changes in production patterns of farmers by agricultural disaster insurance. The aim of this project is to achieve stability of farm management by paying insurance in case of a natural disaster. However, it causes farmers to change production patterns in the direction of increasing production, and leads the crop price to drop. This can be explained by producers' risk reduction through the disaster insurance. The empirical analysis is based on IV approach with using two stage least squares method. The first stage estimates by difference-in-differences methodology indicate that the production of insurable crops increases more about 80,000ton on average than that of non-insurable crops. In addition, to solve the endogeneity problem caused by general supply and demand model, I use the first stage estimates and find that the price index of the crops drops about 2.3% according to the production increase by 10,000ton. The credibility of these results is also attained by various robustness checks. These findings suggest that it is necessary for government to analyze the whole economy which consists of producer and consumer welfare when it determines the policy. Besides, it implies that it is essential to develop a new market to cope with the unintended effect.

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An Experimental Study for Substitutability of Sand Mat with Fiber Mat (Fiber Mat의 Sand Mat 대체가능성평가를 위한 실험적 연구)

  • Lee Song;Jeong Yong-Eun
    • Journal of the Korean Geotechnical Society
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    • v.21 no.5
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    • pp.225-230
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    • 2005
  • At present, there are several problems related with sand mat which is used as a way to accelerate consolidation settlement, to act like an underground drainage layer and to increase trafficability simultaneously. First of all, the unbalance of the demand and supply of sand is one of the biggest problems, which causes not only price rise but also delay of the term of the total construction work. Secondly, the damage of ecosystem and scenery is triggered by thoughtless sand dredging or mining. So, the need that sand mat should be replaced with a new environmentally friendly material has been increased. Fiber mat may be one of the proper materials that suits the need. Therefore, we intended to compare the drainage properties of sand mat with those of fiber mat by experimental model tests. On the basis of the test results, fiber mat took shorter period of consolidation than sand mat and the amount of settlement in the farmer showed a little bit bigger than in the latter. As a conclusion, the substitutability of sand mat with fiber mat could be placed highly in view of drainage efficiency. Furthermore, when fiber mat is used, it has an advantage that spoiled soil of the construction site or nearby site can be used for the purpose of increasing trafficability in addition to a role of drainage layer.

Macroeconomic Consequences of Pay-as-you-go Public Pension System (부과방식 공적연금의 거시경제적 영향)

  • Park, Chang-Gyun;Hur, Seok-Kyun
    • KDI Journal of Economic Policy
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    • v.30 no.2
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    • pp.225-270
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    • 2008
  • We analyze macroeconomic consequences of pay-as-you-go (PAYGO) public pension system with a simple overlapping generations model. Contrary to large body of existing literatures offering quantitative results based on simulation study, we take another route by adopting a highly simplified framework in search of qualitatively tractable analytical results. The main contribution of our results lies in providing a sound theoretical foundation that can be utilized in interpreting various quantitative results offered by simulation studies of large scale general equilibrium models. We present a simple overlapping generations model with a defined benefit(DB) PAYGO public pension system as a benchmark case and derive an analytical equilibrium solution utilizing graphical illustration. We also discuss the modifications of the benchmark model required to encompass a defined contribution(DC) public pension system into the basic framework. Comparative statics analysis provides three important implications; First, introduction and expansion of the PAYGO public pension, DB or DC, result in lower level of capital accumulation and higher expected rate of return on the risky asset. Second, it is shown that the progress of population aging is accompanied by lower capital stock due to decrease in both demand and supply of risky asset. Moreover, risk premium for risky asset increases(decreases) as the speed of population aging accelerates(decelerates) so that the possibility of so-called "the great meltdown" of asset market cannot be excluded although the odds are not high. Third, it is most likely that the switch from DB PAYGO to DC PAYGO would result in lower capital stock and higher expected return on the risky asset mainly due to the fact that the young generation regards DC PAYGO pension as another risky asset competing against the risky asset traded in the market. This theoretical prediction coincides with one of the firmly established propositions in empirical literature that the currently dominant form of public pension system has the tendency to crowd out private capital accumulation.

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A Study on the Effects of Meterological Factors on the Distribution of Agricultural Products: Focused on the Distribution of Chinese Cabbages (기상요인이 농산물 유통에 미치는 영향에 관한 연구: 배추 유통 사례를 중심으로)

  • Lee, Hyunjoung;Hong, Jinhwan
    • Journal of Distribution Research
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    • v.17 no.5
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    • pp.59-83
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    • 2012
  • Agriculture is a primary industry that influenced by the weather or meterological factors more than other industry. Global warming and worldwide climate changes, and unusual weather phenomena are fatal in agricultural industry and human life. Therefore, many previous studies have been made to find the relationship between weather and the productivity of agriculture. Meterological factors also influence on the distribution of agricultural product. For example, price of agricultural product is determined in the market, and also influenced by the weather of the market. However, there is only a few study was made to find this link. The objective of this study is to investigate the effects of meterological factors on the distribution of agricultural products, focusing on the distribution of chinese cabbages. Chinese cabbage is a main ingredient of Kimchi, and basic essential vegetable in Korean dinner table. However, the production of chinese cabbages is influenced by weather and very fluctuating so that the variation of its price is so unstable. Therefore, both consumers and farmers do not feel comfortable at the unstable price of chinese cabbages. In this study, we analyze the real transaction data of chinese cabbage in wholesale markets and meterological factors depending on the variety and geography. We collect and analyze data of meterological factors such as temperatures, humidity, cloudiness, rainfall, snowfall, wind speed, insolation, sunshine duration in producing and consuming region of chinese cabbages. The result of this study shows that the meterological factors such as temperature and humidity significantly influence on the volume and price of chinese cabbage transaction in wholesale market. Especially, the weather of consuming region has greater correlation effects on transaction than that of producing region in all types of chinese cabbages. Among the whole agricultural lifecycle of chinese cabbages, 'seeding - harvest - shipment - wholesale', meterological factors such as temperature and rainfall in shipment and wholesale period are significantly correlated with transaction volume and price of crops. Based on the result of correlation analysis, we make a regression analysis to verify the meterological factors' effects on the volume and price of chines cabbage transaction in wholesale market. The results of stepwise regression analysis are shown in

    and
    . The type of chinese cabbages are categorized by 5 types, i.e. alpine, gimjang for winter, spring, summer, and winter crop, and all of the regression models are shown significant relationship. In addition, meterological factors in shipment and wholesale period are entered more in regression model than those in seeding and harvest period. This result implies that weather in consuming region is also important in the distribution of chinese cabbages. Based on the result of this study, we find several implications and recommendations for policy makers of agricultural product distribution. The goal of agricultural product distribution policy is to insure proper price and production cost for farmers and provide proper price and quality, and stable supply for consumers. Therefore, coping with the uncertainty of weather is very essential to make a fruitful effect of the policy. In reality, very big part of consumer price of chinese cabbage is made up of the margin of intermediaries, because they take the risk. In addition, policy makers make efforts for farmers to utilize AWIS (Agricultural Weather Information System). In order to do that, it should integrate the relevant information including distribution and marketing as well as production. Offering a consulting service to farmers about weather management is also expected to be a good option in agriculture and weather industry. Reflecting on the result of this study, the distribution authorities can offer the guideline for the timing and volume of harvest, and it is expected to contribute to the stable equilibrium of supply and demand of agricultural products.

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  • The Effect of Individual Characteristics and Economic Environment on Entrepreneurship (개인의 계획된 행위와 국가경제환경이 기업가정신에 미치는 영향 분석: OECD국가를 대상으로)

    • Han, Sangyun
      • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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      • v.11 no.4
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      • pp.149-165
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      • 2016
    • The objectives of this study is to assess the influence of individual characteristics and economic environment on the entrepreneurship such as entrepreneurial Intention and behavior based on the theory of Planned behaviors. This study used a country-level merged data set composed of GEM(Global Entrepreneurship Monitor) data and the OECD Statistics data. And this used the fixed effect model to analyze the panel data of 31 OECD countries during the period from 2005 to 2014. Our findings show that subjective norm has a significantly positive effect on entrepreneurial intention. In individual characteristics, the perceived opportunities has a significantly positive effect on early-stage entrepreneurial activity(TEA) and improvement-driven opportunity entrepreneurial activity. We identify the differences of between necessity-driven and improvement-driven opportunity entrepreneurial activity. For example, the effect on necessity-driven entrepreneurial activity is significantly negative. We also find the differences of between necessity-driven and improvement-driven opportunity entrepreneurial activity in economic environment variables. While real GDP growth as a demand variable has a significantly positive effect on necessity-driven entrepreneurial activity, unemployment rate as a supply variable has a significantly negative effect on early-stage entrepreneurial activity(TEA) and improvement-driven opportunity entrepreneurial activity. And GDP per capita as a supply variable has a significantly positive effect on early-stage entrepreneurial activity(TEA) and improvement-driven opportunity entrepreneurial activity. But the effect on necessity-driven entrepreneurial activity is significantly negative. We provide an interpretation of these empirical findings, emphasizing the importance of considering individual characteristics and economic environment simultaneously in promoting entrepreneurship.

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    A Study on Estimating Rice Yield in DPRK Using MODIS NDVI and Rainfall Data (MODIS NDVI와 강수량 자료를 이용한 북한의 벼 수량 추정 연구)

    • Hong, Suk Young;Na, Sang-Il;Lee, Kyung-Do;Kim, Yong-Seok;Baek, Shin-Chul
      • Korean Journal of Remote Sensing
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      • v.31 no.5
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      • pp.441-448
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      • 2015
    • Lack of agricultural information for food supply and demand in Democratic People's republic Korea(DPRK) make people sometimes confused for right and timely decision for policy support. We carried out a study to estimate paddy rice yield in DPRK using MODIS NDVI reflecting rice growth and climate data. Mean of MODIS $NDVI_{max}$ in paddy rice over the country acquired and processed from 2002 to 2014 and accumulated rainfall collected from 27 weather stations in September from 2002 to 2014 were used to estimated paddy rice yield in DPRK. Coefficient of determination of the multiple regression model was 0.44 and Root Mean Square Error(RMSE) was 0.27 ton/ha. Two-way analysis of variance resulted in 3.0983 of F ratio and 0.1008 of p value. Estimated milled rice yield showed the lowest value as 2.71 ton/ha in 2007, which was consistent with RDA rice yield statistics and the highest value as 3.54 ton/ha in 2006, which was not consistent with the statistics. Scatter plot of estimated rice yield and the rice yield statistics implied that estimated rice yield was higher when the rice yield statistics was less than 3.3 ton/ha and lower when the rice yield statistics was greater than 3.3 ton/ha. Limitation of rice yield model was due to lower quality of climate and statistics data, possible cloud contamination of time-series NDVI data, and crop mask for rice paddy, and coarse spatial resolution of MODIS satellite data. Selection of representative areas for paddy rice consisting of homogeneous pixels and utilization of satellite-based weather information can improve the input parameters for rice yield model in DPRK in the future.

    A Study of Fish Community on Up and Downstream of Hwabuk Dam Under Construction in the Upper Wie Stream. (위천 상류에 건설 중인 화북댐 상 하류 어류군집에 관한 연구)

    • Seo, Jin-Won;Kim, Hee-Sung
      • Korean Journal of Ecology and Environment
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      • v.42 no.2
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      • pp.260-269
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      • 2009
    • Hwabuk Dam has been under construction to reduce flood damage in Nakdong River watershed and to supply stable water for middle area of Gyeongbuk Province. Therefore, fish investigation in up and downstream of the dam was conducted from 2004 to 2008 in order to determine any negative effect on fish community due to dam construction and to use as fundamental data for conserving species diversity and maintaining stream health. According to data analysis on water quality, temperature, dissolved oxygen, pH, suspended solids, and total E-coli had seasonal variation, but they did not significantly differ in sites. However, biological and chemical oxygen demand, chlorophyll-a, nitrogen, and phosphorus representing organic matter and nutrient concentration were higher in upper site and decreased to lower site so that they differed by site. Concentration of arsenic among the heavy metals was less than 0.05 mg $L^{-1}$, which is regulated for protection of human health in water quality standard, except for 0.092 mg $L^{-1}$ in June 2005. During the study period, the total number of fish caught from the 6 sites was 10,263 representing 7 families 19 species. Among them, dominant and subdominant species were Korean chub (Zacco koreanus, 62.5%) and Chinese minnow (Rhynchocypris oxycephalus, 10.6%) which inhabit mostly in mid and upper streams, Korea. Among the 19 species, Korean endemic species were 9 species (47.4%) including Korean slender gudgeon (Squalidus gracilis majimae), Korean dark sleeper (Odontobutis platycephala), and Korean shiner (Coreoleuciscus splendidus). There was several individuals of the $1^{st}$-class endangered species, Naktong nose loach (Koreocobitis nahtongensis), caught in 2005${\sim}$2007, and no introduced species of fish was found in entire sampling period. According to result of community analysis, dominance index decreased toward lower site, but diversity and richness indices increased toward lower site. The equation of length-weight relationship on the dominant species was TW=0.000003$(TL)^{3.2603}$. The parameter b in the equation was greater than 3.0 indicating good nutritional condition in the populations. Compared to populations of Korean chub in other streams, the population in Hwabuk Dam watershed had higher mean of condition factor by size indicating better growth rate. With fish fauna and multi-metric health assessment model in each sampling attempt, index of biotic integrity (IBI) was evaluated and it resulted mostly in good (26${\sim}$35) and excellent (36${\sim}$40) condition in all sites, and the mean of IBI was the highest in site 5. The results indicate that it is very important to study not only environmental impact assessment with fish composition but also stream health assessment in order to conserve healthy aquatic ecosystem.

    Analysis the Appropriate Schedule for the Installment Payment Amount and Establishment of the Post sale System and Policy in the Apartment Construction (공동주택 건설사업에서 후분양의 제도 및 정책 수립을 위한 분담금 납부 적정시기 분석)

    • Yoon, Inhwan;Bae, Byungyun
      • Korean Journal of Construction Engineering and Management
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      • v.22 no.4
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      • pp.59-65
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      • 2021
    • Since the 2016 "Housing Act Partial Amendment" and the "2018 Housing Comprehensive Amendment Plan", interest in the pre sale system and post sale system of apartment houses has been on the rise. In order to compare the advantages and disadvantages of the pre sale system and the post sale system of apartment houses, and to establish the basis for the institutional policy of the post sale system, a questionnaire survey method was used for tenants of the apartment house from the public side, and issues of time and cost. The time series analysis method is intended to suggest an appropriate time for payment of contributions. Accordingly, through a review of existing theories and literature, the post sale system of public and private institutions was organized, and through a questionnaire survey, the path to securing pre sale money, product information of the model house, and the degree of awareness of the effect of the post sale system were investigated. For the post sale fund support and payment method, it is necessary to increase the commercial line for existing financiers from the user's point of view, and it is necessary to operate in consideration of the economic power of the pre sale market by region. Both 60% post sale and 80% post sale have a price range of up to KRW 10 million, and the total interest rate is 5.0%, and the annual interest rate is about 2.8% for 60% post sale, and about 2.1% for 80% post sale, which is lower than the current 3.1%. I need an interest rate. The research is a perception survey targeting a total of 5,213 households in a sample of after sale apartments in public institutions. As the actual values are analyzed using a time series on the effects of market supply and demand and market prices, there is a limit to applying them to prospective residents of private apartments. In addition, to respond to first time tenants, a questionnaire survey was conducted on five complexes that have moved in within the last five years.

    Analysis of Causality of the Increase in the Port Congestion due to the COVID-19 Pandemic and BDI(Baltic Dry Index) (COVID-19 팬데믹으로 인한 체선율 증가와 부정기선 운임지수의 인과성 분석)

    • Lee, Choong-Ho;Park, Keun-Sik
      • Journal of Korea Port Economic Association
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      • v.37 no.4
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      • pp.161-173
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      • 2021
    • The shipping industry plummeted and was depressed due to the global economic crisis caused by the bankruptcy of Lehman Brothers in the US in 2008. In 2020, the shipping market also suffered from a collapse in the unstable global economic situation due to the COVID-19 pandemic, but unexpectedly, it changed to an upward trend from the end of 2020, and in 2021, it exceeded the market of the boom period of 2008. According to the Clarksons report published in May 2021, the decrease in cargo volume due to the COVID-19 pandemic in 2020 has returned to the pre-corona level by the end of 2020, and the tramper bulk carrier capacity of 103~104% of the Panamax has been in the ports due to congestion. Earnings across the bulker segments have risen to ten-year highs in recent months. In this study, as factors affecting BDI, the capacity and congestion ratio of Cape and Panamax ships on the supply side, iron ore and coal seaborne tonnge on the demand side and Granger causality test, IRF(Impulse Response Function) and FEVD(Forecast Error Variance Decomposition) were performed using VAR model to analyze the impact on BDI by congestion caused by strengthen quarantine at the port due to the COVID-19 pandemic and the loading and discharging operation delay due to the infection of the stevedore, etc and to predict the shipping market after the pandemic. As a result of the Granger causality test of variables and BDI using time series data from January 2016 to July 2021, causality was found in the Fleet and Congestion variables, and as a result of the Impulse Response Function, Congestion variable was found to have significant at both upper and lower limit of the confidence interval. As a result of the Forecast Error Variance Decomposition, Congestion variable showed an explanatory power upto 25% for the change in BDI. If the congestion in ports decreases after With Corona, it is expected that there is down-risk in the shipping market. The COVID-19 pandemic occurred not from economic factors but from an ecological factor by the pandemic is different from the past economic crisis. It is necessary to analyze from a different point of view than the past economic crisis. This study has meaningful to analyze the causality and explanatory power of Congestion factor by pandemic.