• 제목/요약/키워드: Econometric Methodology

검색결과 34건 처리시간 0.02초

글로벌 외환시장의 환율 결정구조 분석에 관한 실증연구 : 주요 10개국을 중심으로 (Empirical Analysis on Exchange Rate Determination in Global Foreign Exchange Markets : The Case of 10 Major Countries)

  • 이현재
    • 국제지역연구
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    • 제14권3호
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    • pp.221-246
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    • 2010
  • 본 연구는 최근 글로벌 외환시장에서 첨예하게 대립하고 있는 환율갈등의 요인을 분석하기 위해 국가간 실질 및 명목이자율 차이가 환율결정에 미치는 영향을 분석하였다. 유위험, 무위험, 및 실질이자율평가의 실증분석 결과를 종합해 보면 유위험이자율평가가 다른 두 경우보다, 실질이자율평가가 무위험이자율평가 보다 환율결정에 더욱 영향을 미치기는 하지만 그 정도는 충분히 크지 않은 것으로 분석되었다. 또한, 국가간 환율결정에 실질이자율평가가 성립되지 못하는 원인을 규명하기 위해 국가할증, 환율변동위험 할증, 및 통화할증을 분석하였는데, 그 결과에 의하면 국가할증과 환율변동위험 할증이 실질이자율평가의 성립을 어렵게 하는 요인으로 분석되었다. 실증분석 결과를 종합해 볼 때 최근의 국가간 환율갈등의 원인은 외환위기 이후 글로벌 외환시장에서 환율이 각국의 경제력을 바탕으로 결정되기 보다는 시장의 외부요인인 전략에 의해 영향을 받았기 때문인 것으로 보인다. 따라서 환율갈등을 완화 또는 근본적으로 해결하기 위해서는 각국의 외환정책 당국은 시장지향적이고 시장결정적인 환율제도를 구축하여야 할 것이다.

The Chilling Trade Effects of Provisional Anti-dumping Duties: The Case of Korea

  • Sun, Joo Yeon
    • Journal of Korea Trade
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    • 제24권3호
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    • pp.1-19
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    • 2020
  • Purpose - This study empirically analyzes the effects of provisional anti-dumping duties levied on imports by Korea following anti-dumping investigations. An anti-dumping duty is a legal tool that countries use to impose duties on imports to offset injurious dumping. This study verifies how effective the imposition of a provisional anti-dumping duty is and whether such duties have trade chilling effects on aggregate imports. Specifically, this study examines import trade diversion from named to unnamed countries caused by the imposition of provisional anti-dumping duties. Design/methodology - This empirical analysis employs an econometric model of provisional anti-dumping measures for cases in which Korea imposed final affirmative anti-dumping measures. We construct a monthly panel dataset for each stage of anti-dumping investigation undertaken by Korea for all manufacturing industries during 1995-2013. We illustrate a stage-by-stage analysis of anti-dumping investigations from initiation, preliminary decision, imposition of provisional duty, final affirmative decision, and imposition of final affirmative duty on a monthly basis at the six-digit harmonized system code-level. Findings - For cases in which provisional duties are imposed, the reduction in imports from named countries outweighs the increase in imports from unnamed countries. The substantial reduction in imports from named countries is large enough to offset the import diversion to unnamed countries, suggesting that import diversion in investigations is limited during the investigation period. Therefore, the use of provisional anti-dumping duties in Korea is effective, providing evidence of a chilling effect on aggregate imports. Originality/value - Few studies examine the size of the effects on import trade diversion of the imposition of provisional anti-dumping duties. We contribute to the literature by disentangling separate trade effects for each phase of the anti-dumping investigation process and imposition of provisional duty.

Comparing Production- and Consumption- based CO2 Emissions by Economic Growth

  • Jooman Noh;Hong Chong Cho
    • Journal of Korea Trade
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    • 제26권8호
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    • pp.21-36
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    • 2022
  • Purpose - Carbon emission standards are based on the "production-based carbon emissions" generated by the production of goods in the relevant country which were the existing measurement methods. However, can such carbon emissions measurement standards be established international? For example, some of the goods produced in developing countries are produced for the demand of developed countries. The method of measuring carbon emission based on the final demand of a certain country is called "consumption-based carbon emissions." This study compares productionand consumption-based CO2 emissions according to economic growth in ninety-three countries categorized by income level. Design/methodology - Our empirical model considers the difference between production- and consumption-based CO2 emissions according to economic growth. Also, our model investigated whether the EKC hypothesis in most of the previous studies that had been based on production-based emissions was also established in the consumption-based emission model. Considering the continuous characteristics of CO2, we utilized the generalized method of moments (GMM), specifically a system GMM econometric technique because CO2 in the previous period can affect CO2 in the present period. Findings - Our main findings can be summarized as follows: The results show that for the consumption-based CO2 emissions model, CO2 continuously increases as economic growth increases in the upper-middle income countries. The inverted U-shaped result was found in the case of the production-based model. However, in the lower-income countries, an inverted-U shape in which CO2 emissions decrease at some point as the economy grows in the production-based model does not appear. On the other hand, in the consumption-based model, an inverted U-shaped result was obtained when estimating with system-GMM. Additionally, the proportion of manufacturing, energy imports, and energy consumption had an effect on both the production- and the consumption-based model regardless of the group's CO2 emissions. On the basis of such assessments, policymakers need to consider not only production- but also consumption-based options. Originality/value - Previous studies have mainly focused on production-based CO2 emissions, with most of them revolving around economic growth or the effect of various social and economic factors on CO2 emissions. However, this study considers the relationship with economic growth using consumption-based emissions as a dependent variable by classifying ninety-three countries by income level.

자살 고위험군 노인: 원인 파악 및 예측 모델 개발 (High Suicidal Risk Group of Elderly: Identification of Causal Factors and Development of Predictive Model)

  • 박가연;신우식;김희웅
    • 경영정보학연구
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    • 제25권3호
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    • pp.59-81
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    • 2023
  • 한국의 노인(65세 이상) 자살 문제는 점차 심각해지고 있는 추세이다. 급격한 인구 고령화 흐름에 따라 이러한 고령층의 자살 추세가 더욱 가속화될 것으로 추정되고 있어, 노인 자살을 예방하고 감소시키는 것이 개인 뿐만 아니라 중요한 사회적 과제로 대두되고 있다. 따라서 본 연구는 한국 노인들을 대상으로 자살 생각의 원인 요인을 파악하고 예측 모델을 개발하는 것을 목적 한다. 본 연구는 한국복지패널조사에서 제공하는 7개년의 패널 데이터를 활용하였으며 자살의 대인 관계 이론(interpersonal theory of suicide)과 사회 해체 이론(social disorganization theory)을 바탕으로 노인 자살의 잠재 원인 요인들을 선정한다. 다음으로 노인의 자살 생각에 대한 원인 요인 파악을 위해 패널 로짓 모형 분석을 진행하고 노인 자살 생각의 예측 모델 개발을 위해 딥 러닝과 머신 러닝 알고리즘을 활용한다. 본 연구는 계량 모형 분석을 통해 검증한 주요 원인 요인들을 활용하여 노인 자살을 예방할 수 있는 구체적인 노인 복지 정책 수립에 기여하고자 한다. 본 연구에서 제시된 예측 모델은 자살 고위험군 노인을 선별하고 관리할 수 있는 방안 마련의 기반을 제공한다. 또한 본 연구는 혼합방법론의 시너지를 보였다는 점에서 학술적 시사점을 가진다.