• Title/Summary/Keyword: Demand-Supply Model

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Analysis of Shipping Markets Using VAR and VECM Models (VAR과 VECM 모형을 이용한 해운시장 분석)

  • Byoung-Wook Ko
    • Korea Trade Review
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    • v.48 no.3
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    • pp.69-88
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    • 2023
  • This study analyzes the dynamic characteristics of cargo volume (demand), ship fleet (supply), and freight rate (price) of container, dry bulk, and tanker shipping markets by using the VAR and VECM models. This analysis is expected to enhance the statistical understanding of market dynamics, which is perceived by the actual experiences of market participants. The common statistical patterns, which are all shown in the three shipping markets, are as follows: 1) The Granger-causality test reveals that the past increase of fleet variable induces the present decrease of freight rate variable. 2) The impulse-response analysis shows that cargo shock increases the freight rate but fleet shock decreases the freight rate. 3) Among the three cargo, fleet, and freight rate shocks, the freight rate shock is overwhelmingly largest. 4) The comparison of adjR2 reveals that the fleet variable is most explained by the endogenous variables, i.e., cargo, fleet, and freight rate in each of shipping markets. 5) The estimation of co-integrating vectors shows that the increase of cargo increases the freight rate but the increase of fleet decreases the freight rate. 6) The estimation of adjustment speed demonstrates that the past-period positive deviation from the long-run equilibrium freight rate induces the decrease of present freight rate.

A New way of the Measuring of Innovative Growth: Growth Accounting Model vs Schumpeterian Technological Change Model (혁신성장 측정에 관한 연구: 성장회계모형 vs 슘페테리안 기술변화 모형)

  • Myung-Joong Kwon;Sang-Hyuk Cho;Mikyung Yun
    • Journal of Technology Innovation
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    • v.31 no.1
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    • pp.105-148
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    • 2023
  • This paper provides a new method of measuring the degree of technological progress which contributes to real economic growth based on Schumpeter's Trilogy. Using Microdata of Statistics Korea, the results of measuring and comparing the actual growth contribution of technological progress during the period 2003-2018 by the total factor productivity growth rate(growth accounting method), the R&D investment contribution rate, and the Schumpeterian innovation growth rate, respectively are as follows. First, the measurement of the real growth contribution of technological progress by the growth rate of total factor productivity and the growth rate of Schumpeterian innovation shows contradictory results. Second, when the growth rate of production is in a decreasing trend, the difference between the growth rate of production and the growth rate of total factor productivity increases compared to when it is in an increasing trend. Conversely, when there is an increasing trend, the difference between the growth rate of production and the growth rate of total factor productivity becomes smaller compared to when it is in a decreasing trend.. Third, the technological opportunity that affects the innovation growth rate, i.e., the contribution of R&D incentives to innovative growth is only 3.3%. The reason why this result is different from the existing perception of the contribution of technological progress to growth is that different entities are being measured while measuring the same term of technological progress. Therefore, the growth rate of total factor productivity should be used to measure macroeconomic efficiency, R&D investment should be used to measure the effectiveness of new technology supply, and the Schumpeterian innovation rate should be used to measure the economic impact of technological progress. The policy implications of the research results of this thesis are as follows: ① Transition from a policy of one-sided technology supply to a policy of convergence of technology supply and new technology demand support, ② Mission-oriented R&D policy and R&D policy that links national R&D with private R&D, ③ Reclassification of capital goods reflecting the degree of new knowledge.

A Study on Stage of Concern, Level of Use, Innovation Configuration, and Intervention demand of Teachers in Culinary Practice Education (조리실습 교육에 대한 교사의 관심도, 실행 수준, 실행 형태 및 지원 요구도 조사)

  • Park Eun-Sook;Kim Young-Nam
    • Journal of Korean Home Economics Education Association
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    • v.18 no.3 s.41
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    • pp.41-60
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    • 2006
  • The system of teaching culinary practice needs drastic modification to catch up with dietary life and education curriculum changes. To reflect such changes, it is necessary to instill a strong will and interest as well as educational environment improvement in teachers. In this sense, this study researched the teachers' stages of concerns, levels of use, innovation configuration, and intervention demands, based on the CBAM(Concerns Based Adoption Method) developed by Hord et. al. For the survey, 500 questionnaires sent by mail and 187 were analyzed by SPSS/win 10.0 program. The results are summarized as follows. 1) The teachers stages of concerns on culinary practice is assessed to be in the lowest level of perceptual stage, which indicates a state of indifference. 2) In terms of the levels of use, routine use was the highest, followed by refinement use, integrated use, research use, and reinvent use in descending order. Mechanical use posted the lowest level. Even though the stages of concern showed the beginning stage, the Level of use was relatively high. 3) About the innovation configuration, approximately 30% of the teachers were not accomodate the culinary practice referred to the 7th National Education Curriculum. 4) According to the intervention demands on culinary practice education, it was found that teachers generally wanted more interventions in every component. Among the intervention components, the highest demand was on the support for facility. Demand on the financing is the second highest. Teachers in the level of routine use demanded more information and materials supply and individual encouragement, but teachers in the level of preparation needed study opportunity for training on operation skills more.

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A Study of Establishing the Plan of Lodging for the Workers of Gaesung Industrial Complex (개성공단 근로자 기숙사 건립 계획 연구)

  • Choi, Sang-Hee;Kim, Doo-Hwan;Kim, Sang-Yeon;Choi, Eun-Hee
    • Land and Housing Review
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    • v.6 no.2
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    • pp.67-77
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    • 2015
  • Now that it is the current situation that the smooth supply and demand are necessary for 2nd phase of beginning construction and stable development of Gaesung Industrial Complex, this study was willing to offer the planning criteria and model to establish the lodging for the workers in Gaesung Industrial Complex based on the agreement that both South and North Korea agreed in 2007. Regarding the plan, its standard and the alternative were reviewed considering welfare of workers, economic efficiency, technical validity, possibility of agreement and long-term development. The exclusive area per capita was calculated through Labor Standards Act of Korea and status survey of lodging for the workers provided to border line area between China and North Korea and the economic alternative based on one room for 6 persons with the public restroom was compared with that of development type based on one room for 4 persons with indoor restroom. Especially regarding the proposed site, the area with the optimized position was set by considering gradient, accessibility and convenience of development out of the area of Dongchang-ri where was agreed already and the priority of the proposed site that can keep the existing building site and provide was offered. The necessary period for whole construction was set as approximately 36 months. Regarding construction method, RC Rahmen method was selected as the optimized alternative considering the workmanship of manpower of North Korea and conditions of supply and demand of materials and cluster-type vehicle allocation plan based on 4~6 units considering the efficiency of supplying service facilities and convenient facilities along the simultaneous accommodation of 15,000 people was offered. It was analyzed that total business expenses of approximately 80~100 billion Korean Won would required though there were the difference for each alternative in the charged rental way that the development business owner develops by lending the inter-Korea Cooperation Fund and withdraws the rent by the benefit principle. The possibility of withdrawing the rent was analyzed assuming that the period of withdrawing the investment is 30 years. Especially for the operation management after moving, the establishment of the committee of operating the lodging for the workers of Gaesung Industrial Complex (tentative name) was offered with the dualized governance that the constructor takes charge of operational management, collecting fees and management of infrastructure and human resource management is delegated to North Korea.

Impacts of Energy Tax Reform on Electricity Prices and Tax Revenues by Power System Simulation (전력계통 모의를 통한 에너지세제 개편의 전력가격 및 조세수입에 대한 영향 연구)

  • Kim, Yoon Kyung;Park, Kwang Soo;Cho, Sungjin
    • Environmental and Resource Economics Review
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    • v.24 no.3
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    • pp.573-605
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    • 2015
  • This study proposed scenarios of tax reform regarding taxation on bituminous coal for power generation since July 2015 and July 2014, estimated its impact on SMP, settlement price, tax revenue from year 2015 to year 2029. These scenarios are compared with those of the standard scenario. To estimate them, the power system simulation was performed based on the government plan, such as demand supply program and the customized model to fit Korea's power system and operation. Imposing a tax on bituminous coal for power generation while maintaining tax neutrality reducing tax rate on LNG, the short-term SMP is lowered than the one of the standard scenario. Because the cost of nuclear power generation is still smaller than costs of other power generation, and the nuclear power generation rarely determines SMPs, the taxation impact on SMP is almost nonexistent. Thus it is difficult to slow down the electrification of energy consumption due to taxation of power plant bituminous coal in the short term, if SMP and settlement price is closely related. However, in the mid or long term, if the capacity of coal power plant is to be big enough, the taxation of power plant bituminous coal will increase SMP. Therefore, if the tax reform is made to impose on power plant bituminous coal in the short term, and if the tax rate on LNG is to be revised after implementing big enough new power plants using bituminous coal, the energy demand would be reduced by increasing electric charges through energy tax reform. Both imposing a tax on power plant bituminous coal and reducing tax rate on LNG increase settlement price, higher than the one of the standard scenario. In the mid or long term, the utilization of LNG complex power plants would be lower due to an expansion of generating plants, and thus, the tax rate on LNG would not affect on settlement price. Unlike to the impact on SMP, the taxation on nuclear power plants has increased settlement price due to the impact of settlement adjustment factor. The net impact of energy taxation will depend upon the level of offset between settlement price decrease by the expansion of energy supply and settlement price increase by imposing a tax on energy. Among taxable items, the tax on nuclear power plants will increase the most of additional tax revenue. Considering tax revenues in accordance with energy tax scenarios, the higher the tax rate on bituminous coal and nuclear power, the bigger the tax revenues.

Reliability Analysis on Firewater Supply Facilities based on the Probability Theory with Considering Common Cause Failures (소방수 공급설비에 대한 공통원인고장을 고려한 확률론적 신뢰도 분석)

  • Ko, Jae-Sun;Kim, Hyo
    • Fire Science and Engineering
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    • v.17 no.4
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    • pp.76-85
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    • 2003
  • In this study, we write down the definitions, their causes and the techniques of analysis as a theoretical consideration of common cause failures, and investigate the limitation and the importance of the common cause failures by applying to the analysis on the fire protection as a representative safety facility. As you can know in the reliability analysis, most impressive cause is the malfunctions of pumping operations; especially the common cause failure of two pumps is dominant. In other words, it is possible to assess system-reliability as twice as actual without CCF From these, CCF is extraordinarily important and the results are highly dependent on the CCF factor. And although it would increase with multiple installations, the reliability are not defined as linear with those multiplications. In addition, the differences in results due to the models for analysis are not significant, whereas the various sources of data produce highly different results. Therefore, we conclude that the reliabilities are dependent on the quality of the usable data much better than the variety of models. As a result, the basic and engineering device for the preventions of CCF of the multiple facilities is to design it as reliably as to design the fire-water pump. That is to say, we must assess those reliabilities using PFD whether they are appropriate to SIL (Safety Integrity Level) which is required for the reliability in SIS (Safety Instrumented System). The result of the analysis on the reliability of the fire-water supply with CCF shows that PFD is 3.80E-3, so that it cannot be said to be designed as safely as in the level of SIL5. However, without CCF, PFD is 1.82E-3 which means that they are designed as unsafely as before.

Analysis of Water Quality Improvement in Downstream River of Heightening Irrigation Dam through the Reservoir Operation (둑높이기 농업용저수지의 운영을 통한 하천 수질개선 효과 분석)

  • Jee, Yong-Keun;Lee, Mi-Seon;Lee, Jin-Hee;Jang, Jea-Ho
    • Journal of Korea Water Resources Association
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    • v.45 no.9
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    • pp.929-941
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    • 2012
  • In recent years, interest in river environment such as riparian landscape, water quality and ecological conservation has been growing with increasing recreation on agricultural river watershed. That caused the increase of necessity of water resources development, one of solutions for the diversification of agricultural water demand and shortages. In this respects, heightening irrigation dam, as a part of the 4-major river restoration project, is necessary to secure not only additional agricultural water but also instream flow for water quality improvement. However, operation plan of irrigation dam still not be clear. In this study, additional storage which secured through heightening irrigation dam was estimated using SWAT model. And instream flow effects on water quality of downstream were evaluated. The findings show that the additional water supply will contribute positively to water quantity and quality of downstream. The results show a 2~10% water quality improvement effect on nutrients, as well as an 1~8% water quantity increasing effect. In particular, additional storage can be effectively supplied from February to April by the reservoir operation. However, maintaining better water quality in irrigation reservoirs is important because the water quality of irrigation reservoirs can be negatively impacts the water quality in downstream of reservoirs.

The Effect of Urban Open Space on Outdoor Leisure Activities - Focusing on Whole Residents and the Elderly - (도시 오픈스페이스가 옥외 여가활동에 미치는 영향 - 전체 주민과 노인을 대상으로 -)

  • Youn, Jeong-Mi;Choi, Mack Joong
    • Journal of the Korean Institute of Landscape Architecture
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    • v.42 no.4
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    • pp.21-29
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    • 2014
  • In terms of quality of life, leisure and health have become important issues with increasing incomes and decreasing working hours in Korea. This study empirically investigates the effects of urban open space on outdoor leisure activities, emphasizing that parks, river banks, and physical activity sites can provide opportunities such as walking, jogging, stretching, and cycling, free of charge to all residents. Based on 2010 sample survey data on leisure activities, multiple regression model as well as hierarchical linear model are estimated, taking account of both individual characteristics on demand and environmental/areal factors on supply side, including open space. Major findings include: first, urban open space significantly increases residents' outdoor leisure activities, second, the effect is more significant for the elderly and third, the effect is more valid for those with relatively low incomes and less education. These results imply that urban open space could be available as a local public good to cope with population aging and to realize health city and social welfare, since this space is not only a leisure place but also public health and welfare facilities.

A Study on Economy Effects of ICT Industry on Transportation Industry -For Convergence of ICT and Transportation- (정보통신산업이 운송산업에 미치는 경제적 효과에 관한 연구 -정보통신과 운송의 융합을 위한-)

  • Shin, Yong-Jae;Choi, Sung-Wook
    • Journal of Digital Convergence
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    • v.13 no.8
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    • pp.321-329
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    • 2015
  • This study investigates effects of hardware and telecommunication and software service divided by ICT service on each 5 transportations to explore convergence of ICT and Transportation. Research models are production inducing effects, Added Value inducing effects of Demand-Driven model and Shortage cost effects of Supply-Driven model by using data for 2010~2012 of Input-Output Table. Results are that network and software service effects are more impact than hardware effects on transportations. Especially, hardware is impacted heavily on production inducing effect, telecommunications and software services has had a significant impact on the production inducing effect and Shortage cost effects. In addition, by each detail the transportation industries, packages and other transport and road transport is influenced greatly from ICT. On the other hand, rail and water transport are relatively lower impact by ICT, However, the effects of rail and water transport by ICT is grater than investment ratio of ICT. As a result, increasing investment in the ICT services could contribute to development of rail and water transport development.

A Study on the Regional Self-sufficiency for In-patient Care Services (입원의료의 진료권별 자체충족도에 관한 연구)

  • Han, Dal-Sun;Kwon, Soon-Ho
    • Journal of Preventive Medicine and Public Health
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    • v.23 no.3 s.31
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    • pp.285-295
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    • 1990
  • The utilization of medical care services has been partly regionalized with the implementation of referral requirement by the government since July 1, 1989 when the health insurance coverage was extended to all the people. For the purpose of regionalization, the whole country has been primarily divided into tertiary care regions, and each of them again into secondary care regions. This study investigates the self-sufficiency for in-patient care services of secondary care regions focusing on why it varies among the regions. In doing so, analysis is performed to examine a model which embodies three sets of hypotheses as follows : 1) The regional self-sufficiency for medical care services would be subject to direct influences of regional characteristics, amount of available services and structural properties of regional medical care system ; 2) The regional characteristics would have indirect effects on the self-sufficiency which are mediated by medical care services ; and 3) The amount of available services would indirectly affect the self-sufficiency by influencing the structure of regional medical care system. The results of analysis were generally consistent with the model. The findings have some practical implications. The regional self-sufficiency for medical care services partly depends upon basic properties of each region which cannot be changed in a short period of time. Thus the self-sufficiency for medical care services can be improved mainly by health policy measures. In some of the regions the self-sufficiency for in-patient care services was much higher or lower than can be predicted from the bed-population ratio. Indication is that the allocation of health resources should be made considering a variety of factors bearing upon the supply of and demand for health care ; not on the basis of just a single criterion like the availability. The self-sufficiency of a certain region is related to not only its own characterstics but also the characteristics of neighboring regions. Therefore, attention should be also directed to the inter-regional relationships in health care when the needs for investment of health resources in a region are assessed. However, it should be noted that this study used the data collected before the referral requirement was imposed. A replication of this analysis using recent data would provide an evaluation of the impact on the self-sufficiency of the referral requirement as well as a confirmation of the findings of this study.

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