• 토지주택연구
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• 제4권1호
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• pp.23-31
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• 2013

The regional economic crises in the late 1990s and the global economic crisis in the late 2000s had reduced the differences in housing policies among the major Asian economies. This paper attempts to explain and compare housing welfare policy shifts between subsidizing home owning and subsidized renting from the perspectives of the economic and social roles of housing, the lock-in effect of policy processes, and the welfare provision strategy of the East Asian economies. It argues that the impact of economic crises on housing welfare policy in East Asia depended on the duration and the intensity of the crisis and the length and severity of the subsequent economic depression. Another important factor was the role of housing in the economic and social development, especially whether housing market development was considered as an engine of economic growth or revival, and whether the tools of housing policy caused the economic crisis. The loss of impetus for home ownership drive and the new emphasis on rental subsidy provision are new policy trends. Nonetheless, the economic revival since mid-2009 has caused the re-introduction of home ownership subsidies for quenching the housing affordability problems and enhancing home ownership making use of the strong economic conditions.

• 한국주거학회논문집
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• 제22권2호
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• pp.21-33
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• 2011

This paper aims to explore the characteristics of Bogeumjari Housing Program and its significance to housing policy, and propose an appropriate direction of future housing policy for low-income households without home ownership based on actual data on housing careers and preferences of the policy target households. Supply of Bogeumjary Housing is characterized by consolidation of existing housing program, housing support by income level, differentiation of eligible households, and housing subscription on-line. Bogeumjari Housing Program is meaningful in that it is a policy that resumed the supply of permanent housing, provides multi-tier support system by income level, and adjusts the imbalances in housing demand and supply. Despite their strong preferences for Bogeumjari Housing, their affordability is very low due to their low income levels and gloomy outlook for household finances. In this light, the government should pursue housing policies that include not only new housing constructions, but also efficient use of housing stocks, expansion of loans for first-time home buyers, and introduction of home mortgage and housing voucher.

• KDI Journal of Economic Policy
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• 제40권3호
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• pp.69-89
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• 2018

We study whether a default option attached to non-recourse mortgages improves borrowers' surplus from mortgage financing. By defaulting on mortgage debt, borrowers can save their non-collateralized income from being foreclosed. In exchange, borrowers must forgo non-monetary surplus from retaining any collateral. Banks may charge a high mortgage rate due to increased default rates. We find that the interest rate of non-recourse mortgage decreases with the borrower's surplus from home ownership. Moreover, non-recourse mortgages benefit only borrowers who deem housing property as an investment asset. Hence, the transition to a non-recourse mortgage is detrimental to welfare if the borrower enjoys a large surplus from home ownership. Although the borrower privately knows how much surplus she enjoys from home ownership, a menu of non-recourse mortgage contracts may exist, yielding a separating equilibrium without information rent.

• 한국사회정책
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• 제24권4호
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• pp.3-29
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• 2017

본 연구는 케메니와 캐슬즈 등이 주장한 복지와 공공지출 간 상쇄(역)관계(trade-off) 가설이 현재에도 유효한지를 확인하고, 최근 주택소유율이 가장 크게 변화하고 있는 사민주의 국가들과 반대로 가장 안정된 모습을 보여주는 남부유럽 국가들을 대상으로 주택소유율의 변화와 안정 요인을 분석하였다. 연구결과, 첫째, 자료수집이 가능했던 2014년을 기준으로 보았을 때 주택소유와 공공지출 간 상쇄관계는 자유주의 레짐과 보수주의 레짐에서만 확인되었다. 둘째, 사민주의 국가들은 예상외로 주택담보대출이 크게 증가했으며 주택의 상품화 경향을 보여주었으나 남부유럽 레짐의 경우에는 낮은 주택담보대출과 비교적 온전한 주택소유를 유지하고 있어 前상품화 경향을 보여주었다. 셋째, 사민주의 레짐은 신규주택과 공공임대주택 건설투자 축소, 주택소유에 친화적인 조세와 관대한 대출정책 등으로 주택수요의 증가와 주택가격의 폭등을 유발하였으나 남부유럽 레짐은 풍부한 주택재고, 대가족 제도, 친인척 중심의 직접 건축 및 공급 방식, 가족 간 주택의 상속과 이전(증여) 덕분에 주택수요와 가격의 안정을 유지하고 있었다. 주택소유와 복지의 선후관계는 아직 불분명하지만, 부채를 통해 주택소유를 유도하는 것은 복지 대체제로서 주택의 기능적 유용성 여부를 떠나 장기적으로 합리적 대안이 될 수 없을 것이다.

• KDI Journal of Economic Policy
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• 제30권2호
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• pp.1-26
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• 2008

본고에서 우리는 한국의 주택 부 효과의 크기를 재검토한다. 이를 위해 주택가격 상승에 대한 주택 보유자 소비지출의 반응인 '순수한' 주택 부 효과의 크기를 알아보는 데 중점을 둔다. 순수한 주택 부 효과를 측정하기 위해 거시시계열 자료를 이용할 경우, 주택 보유여부와 적절한 소비지출변수의 선정이라는 두 가지 문제가 제기된다. 우리는 먼저 비 주택 소비(non-housing consumption)가 보다 적절한 소비지출변수임을 보이며, 그 이유로 주택소비(housing consumption)의 상당 부분이 주택 보유자들의 실제로 지불하지 않는 귀속임대료(imputed rents)임을 제시한다. 이어서 우리는 거시시계열 자료로부터 구한 주택 부 효과의 크기를 얼마나 수정해야 주택보유자에의 순수한 주택 부 효과를 추정할 수 있는가를 살펴본다. 이를 위해 두 개의 구조적 모형을 설정하여, 전체 소비지출 중에서 주택 보유자 소비지출의 비중을 추정한다. 주택 보유자의 소비지출 비중을 감안하여 수정된 주택부의 효과는, 거시시계열을 이용하여 구한 통상적인 주택 부 효과의 추정치보다 크게 나타난다.

• Architectural research
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• 제18권4호
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• pp.121-128
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• 2016

Low-income housing policies in South Korea have been pursued mostly by providing public rental housing for less privileged social groups. In contrast to this notion of housing, this article argues for housing ownership by low-income families. Two examples of this ownership policy are found in Chile. Incremental housing involves an open-ended housing platform, which requires home-dwellers to complete the construction process themselves. This article aims to examine structural, spatial and formal characteristics of the incremental housing projects. Taking the perspective of the home-dweller during the incremental construction process, we evaluate the houses before and after customization. Thus, we use data from field-work conducted for seven months in the Santiago Metropolitan Area of Chile. Using qualitative methods such as observation, semi-structured interviews, and surveys we focus on the Elemental Lo Espejo incremental housing project and then compare it with the Las Higuera housing project. The latter is representative of the incremental houses delivered by the Chilean government. In comparing these two projects, we aim to articulate the lessons of incremental housing with the intention of suggesting possible future developments for a wider-reaching incremental housing program.

• 한국항공운항학회지
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• 제30권1호
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• pp.20-27
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• 2022

It is anticipated that there will be radical disputes over land ownership in the event of the advent of the era of UAM. As such, policy alternative is presented by analyzing and researching relevant laws at home and abroad on the means of legislating 'Regulations on compensation for use of air space above land' in preparation of such occurrence. As the results of the study, it is deemed to limit the range of the land ownership in accordance with UAM operation as follows. First, it is proposed to newly enact regulation to limit the ownership of air space of land owner to the public space above the elevation of 200m as stipulated under the Article 78 of the Aviation Safety Act. Second, as the result of analysis made for the option of making compensation from the perspective of the property right of land ownership and option of not making compensation from the perspectives of public interest and concerns in the event of operation of UAM within the air space below the elevation of 200m, it is deemed that legislative decision is necessary through more extensive studies in the future.

• 경영과학
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• 제32권3호
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• pp.13-28
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• 2015

Using the most recent dataset of Korea and U.S. household finance, this study analyzed demand and adequacy of private pensions for pre-retirees. For this purpose, 2013 Korean Retirement and Income Study (KReIS) of national pension research institute in Korea and 2013 SCF (Survey of Consumer Finances) of FRB in U.S. were used. For comprehensive comparisons of the two countries, this study classified the private pension into sub-categories such as personal pension, corporate pension, and retirement benefits, and used three different criteria including ownership, accumulated present value of each pension, and income replacement ratio of each pension. After controlling for other factors, educational level of householder and household income were critical determinants of size and adequacy of private pension in both countries. Different from Korean households, householders' gender, marital status, and health status had an important effect on the private pension size and adequacy in the U.S. In addition, home ownership significantly increased only private pension adequacy in Korea, and also increased ownership rate, size, and adequacy of private pension in the U.S. Results of this study provide useful implications for future pension system and policy in Korea.

• 토지주택연구
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• 제4권2호
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• pp.133-144
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• 2013

It is commonplace to refer to the Nordic countries of Sweden, Norway, Denmark, Finland and Iceland as a distinctive and homogenous welfare regime. As far as social housing is concerned, however, the institutional heritage of the respective countries significantly frames the ways in which social housing is understood, regulated and subsidized, and, in turn, how housing regimes respond to the general challenges to the national welfare states. The paper presents a historical institutionalist approach to understanding the diversity of regime responses in the modern era characterized by increasing marketization, welfare criticism and internationalization. The aim is to provide outside readers a theoretically guided empirical insight into Scandinavian social housing policy. The paper first lines up the core of the inbuilt argument of historical institutionalism in housing policy. Secondly, it briefly introduces the distinctive ideal typical features of the five housing regimes, which reveals the first internal distinction between the universal policies of Sweden and Denmark selective policies of Iceland and Finland. The Norwegian case constitutes a transitional model from general to selective during the past quarter of a decade. The third section then concentrates on the differences between Denmark, Sweden and Norway in which social housing is, our was originally, embedded in a universal welfare policy targeting the general level of housing quality for the entire population. Differences stand out, however, between finance, ownership, regulation and governance. The historical institutional argument is, that these differences frame the way in which actors operating on the respective policy arenas can and do respond to challenges. Here, in this section we lose Norway, which de facto has come to operate in a residual manner, due to contemporary effects of the long historical heritage of home ownership. The fourth section then discusses the recent challenges of welfare criticism, internationalization and marketization to the universal models in Denmark and Sweden. Here, it is argued that the institutional differences between the Swedish model of municipal ownership and the Danish model of independent cooperative social housing associations provides different sources of resistance to the prospective dismantlement of social housing as we know it. The fifth section presents the recent Danish reform of the governance model of social housing policy in which the housing associations are conceived of as 'dialogue partners' in the local housing policy, expected to create solutions to, rather than produce problems in social housing areas. The reform testifies to the strategic ability of the Danish social housing associations to employ their historically grounded institutional relative independence of the public system.

• 마케팅과학연구
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• 제19권2호
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• pp.17-26
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• 2009

As the lifestyle of consumers changes and the need for various products increases, new products are being developed in the market. Each household owns various home appliances which are purchased through the choice of a decision maker. These appliances include not only large-sized products such as TV, refrigerator, and washing machine, but also small-sized products such as microwave oven and air cleaner. There exists latent correlation among possession of home appliances, even though they are purchased independently. The purpose of this research is to analyze the effect of demographic factors on the purchase and possession of each home appliances, and to derive some relationships among various appliances. To achieve this purpose, the present status on the possession of each home appliances are investigated through consumer survey data on the electric and energy product. And a multivariate probit(MVP) model is applied for the empirical analysis. From the estimation results, some appliances show a substitutive or complementary pattern as expected, while others which look apparently unrelated have correlation by co-incidence. This research has several advantages compared to previous literatures on home appliances. First, this research focuses on the various products which are purchased by each household, while previous researches such as Matsukawa and Ito(1998) and Yoon(2007) focus just on a particular product. Second, the methodology of this research can consider a choice process of each product and correlation among products simultaneously. Lastly, this research can analyze not only a substitutive or complementary relationship in the same category, but also the correlation among products in the different categories. As the data on the possession of home appliances in each household has a characteristic of multiple choice, not a single choice, a MVP model are used for the empirical analysis. A MVP model is derived from a random utility model, and has an advantage compared to a multinomial logit model in that correlation among error terms can be derive(Manchanda et al., 1999; Edwards and Allenby, 2003). It is assumed that the error term has a normal distribution with zero mean and variance-covariance matrix ${\Omega}$. Hence, the sign and value of correlation coefficients means the relationship between two alternatives(Manchanda et al., 1999). This research uses the data of 'TEMEP Household ICT/Energy Survey (THIES) 2008' which is conducted by Technology Management, Economics and Policy Program in Seoul National University. The empirical analysis of this research is accomplished in two steps. First, a MVP model with demographic variables is estimated to analyze the effect of the characteristics of household on the purchase of each home appliances. In this research, some variables such as education level, region, size of family, average income, type of house are considered. Second, a MVP model excluding demographic variables is estimated to analyze the correlation among each home appliances. According to the estimation results of variance-covariance matrix, each households tend to own some appliances such as washing machine-refrigerator-cleaner-microwave oven, and air conditioner-dish washer-washing machine and so on. On the other hand, several products such as analog braun tube TV-digital braun tube TV and desktop PC-portable PC show a substitutive pattern. Lastly, the correlation map of home appliances are derived using multi-dimensional scaling(MDS) method based on the result of variance-covariance matrix. This research can provide significant implications for the firm's marketing strategies such as bundling, pricing, display and so on. In addition, this research can provide significant information for the development of convergence products and related technologies. A convergence product can decrease its market uncertainty, if two products which consumers tend to purchase together are integrated into it. The results of this research are more meaningful because it is based on the possession status of each household through the survey data.