• East Asian Economic Review
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• v.28 no.1
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• pp.37-67
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• 2024

This paper analyses carbon emissions and value-added embodied in trade between two large developed countries, South Korea and the United States, during 2000-2014. Using multi-regional input-output (MRIO) tables, our analysis reveals that carbon emissions and value-added embodied in exports grew by 19% and 101% for South Korea but shrank by 43% and 7% for the United States. As a result, South Korea experienced a 40% increase in net carbon exports and 243% increase in net value-added exports. At the industry level, the primary drivers of changes in carbon exports were electricity and basic materials. The majority of industries in witnessed improvements in carbon intensities suggesting improved environmental efficiency. While both countries achieved a decoupling of carbon emissions from value-added exports, substantial year-to-year and sectoral variations were observed. Finally, structural decomposition analysis indicates that domestic supply-side factors played a role in decreasing emissions whereas foreign demand-side factors contributed to emissions increases. In line with the main findings, various implications for policy and future research are discussed.

• Journal of Energy Engineering
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• v.24 no.1
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• pp.137-148
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• 2015

So far, the phenomenon of "electrification" has been deepened in Korean industry and especially direct heating energy which accounted for 44.0%(2010) of total energy consumed in Korean manufacturing has been significantly electrified. This paper decomposed electricity consumption for direct heating in Korean manufacturing from 1992 to 2012 using LMDI(Log Mean Divisia Index). This paper includes 4 different factors such as electricity proportion effect, direct heating proportion effect, energy intensity effect and added value effect. And this paper compared the consumption pattern by business type. As results, electricity proportion effect had contributed the most to the increase of electricity consumption for direct heating in Korean manufacturing. And Petrol-Chemical and Iron & Steel had the most electrification of direct heating.

• Journal of Distribution Science
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• v.11 no.10
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• pp.63-72
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• 2013

Purpose - This study analyzes the relationship and dynamic interactions between stock price index, interest rate, price index, and housing price indices using Korean monthly data from 2000 to 2013, based on a VAR model. This study also examines Granger causal relationships among these variables in order to determine whether the time series of one is useful in forecasting another, or to infer certain types of causal dependency between stochastic variables. Research design, data, and methodology - We used Korean monthly data for all variables from 2000: M1 to 2013: M3. First, we checked the correlations among different variables. Second, we conducted the Augmented Dickey-Fuller (ADF) test and the co-integration test using the VAR model. Third, we employed Granger Causality tests to quantify the causal effect from time series observations. Fourth, we used the impulse response function and variance decomposition based on the VAR model to examine the dynamic relationships among the variables. Results - First, stock price Granger affects interest rate and all housing price indices. Price index Granger, in turn, affects the stock price and six metropolitan housing price indices. However, none of the Granger variables affect the price index. Therefore, it is the stock markets (and not the housing market) that affects the housing prices. Second, the impulse response tests show that maximum influence on stock price is its own, and though it is influenced a little by interest rate, price index affects it negatively. One standard deviation (S.D.) shock to stock price increases the housing price by 0.08 units after two months, whereas an impulse shock to the interest rate negatively impacts the housing price. Third, the variance decomposition results report that the shock to the stock price accounts for 96% of the variation in the stock price, and the shock to the price index accounts for 2.8% after two periods. In contrast, the shock to the interest rate accounts for 80% of the variation in the interest rate after ten periods; the shock to the stock price accounts for 19% of the variation; however, shock to the price index does not affect the interest rate. The housing price index in 10 periods is explained up to 96.7% by itself, 2.62% by stock price, 0.68% by price index, and 0.04% by interest rate. Therefore, the housing market is explained most by its own variation, whereas the interest rate has little impact on housing price. Conclusions - The results of the study elucidate the relationship and dynamic interactions among stock price index, interest rate, price index, and housing price indices using VAR model. This study could help form the basis for more appropriate economic policies in the future. As the housing market is very important in Korean economy, any changes in house price affect the other markets, thereby resulting in a shock to the entire economy. Therefore, the analysis on the dynamic relationships between the housing market and economic variables will help with the decision making regarding the housing market policy.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.47 no.10
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• pp.720-727
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• 2019

Resonating thermal lags of solid fuel with heat transfer oscillations generated by boundary layer oscillation is the primary mechanism of the occurrence of the LFI (Low Frequency Combustion Instability) in hybrid rocket combustion. This study was experimentally attempted to confirm that how the boundary layer was perturbed and led to the LFI. Special attention was also made on oxidizer swirl injection to investigate the contribution to combustion stabilization. Also the overall behavior of fluctuating boundary layer flow and the occurrence of the LFI was monitored as swirl intensity increased. Fluctuating boundary layer was successfully monitored by the captured image and POD (Proper Orthogonal Decomposition) analysis. In the results, oscillating boundary layer became stabilized as the swirl intensity increases. And the coupling strength between high frequency p', q' diminished and periodical amplification of RI (Rayleigh Index) with similar frequency band of thermal lag was also decreased. Thus, results confirmed that oscillating axial boundary layer triggered by periodic coupling of high frequency p', q' is the primary mechanism to excite thermal resonance with thermal lag characteristics of solid fuel.

• Korean Journal of Social Welfare Studies
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• v.41 no.1
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• pp.65-84
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• 2010

The purpose of Inequality Index Decomposition is to know the cause of overall inequality through decomposing aggregate inequality index into relevant components. Previous studies have mostly focused on the absolute contribution meaning that how much each component possesses out of overall inequality. However it could be more important to know the marginal contribution and inequality effect of each component in order to implement policies reducing overall inequality effectively. For this, we decomposed Gini Coefficient as representative inequality index into income sources or social welfare programs and calculated each Gini Income Elasticity(GIE). Analysis result says that regular employee income and employer(or the self-employed) income, of which GIE are 1.205 and 1.867, are classified as inequality-increasing income source. GIE can be one of good methods to analyse the inequality effect of various income sources and social welfare programs.

• Environmental and Resource Economics Review
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• v.20 no.2
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• pp.229-254
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• 2011

In this paper, we decomposed Greenhouse-Gas emissions of Korea's manufacturing industry using LMDI (Log Mean Divisia Index) method. Changes in $CO_2$ emissions from 1991 to 2007 studied in 5 different factors, industrial production (production effect), industry production mix (structure effect), sectoral energy intensity (intensity effect), sectoral energy mix (energy-mix effect), and $CO_2$ emission factors (emission-factor effect). By results, the structure effect and intensity effect has a role of reducing GHG emissions and The role of structure effect was bigger than intensity effect. The energy mix effect increased GHG emissions and emission-factor effect decreased GHG emissions. By time series analysis, IMF regime affected the GHG emission pattern. the structure effect and intensity effect in that regime was getting worse. After 2000, in the high oil price period, the structure effect and intensity effect is getting better.

• Journal of the Korean Society for Railway
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• v.15 no.3
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• pp.286-293
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• 2012

Korean government is enforcing 'Greenhouse gas target management' in order to achieve Greenhouse gas reduction target. To attain Greenhouse gas reduction target, companies in Korea must establish their GHG inventory system and analysis their GHG emissions characteristics for deduction of mitigation measures. LMDI(Log Mean Divisia Index) decomposition analysis is widely used to understand characteristics of GHG emission and energy consumption. In this paper, the characteristics of GHG emission from the line of railroad in Korea is respectively analyzed in terms of conversion effect, intensity effect, production effect and distance effect. Data of railroad GHG emission from 2000 to 2007 are used. As a result, total effect of railroad's GHG emission is $96,813tCO_2eq$. Production effect ($39,865tCO_2eq$) and distance effect ($327,923tCO_2eq$) affect increase of railroad GHG emissions while Conversion effect ($-158,161tCO_2eq$) and intensity effect ($-112,814tCO_2eq$) influence decrease of the emissions.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.4
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• pp.61-66
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• 2017

Environmental awareness and its relation to the development of economy has garnered increased attention in recent years. Researchers, over the years, have argued that sustainable development warrants for minimizing environmental degradation since one depends on the other. This study analyzes the relationship between environmental degradation (carbon emission taken as proxy for degradation), economic growth, total energy consumption and industrial production index growth in Bangladesh from year 1998 to 2013. This study uses Vector Autoregression (VAR) Model and variance decomposition of VAR to analyze the effect of these variables on carbon emission and vice-versa. The findings of VAR model suggest that industrial production and GDP per capita has significant relationship with carbon emission. Further analysis through variance decomposition shows carbon emission has consistent impact on industrial production over time, whereas, industrial production has high impact on emission in the short run which fades in the long run which is consistent with Environmental Kuznets Curve (EKC) hypothesis. Carbon emission rising along with GDP per capita and at the same time having low impact in the long run on industrial index indicates there may be other sources of pollution introduced with the rise in income of the economy over time.

• Journal of Preventive Medicine and Public Health
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• v.52 no.4
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• pp.214-223
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• 2019

Objectives: Equity in financial protection against healthcare expenditures is one the primary functions of health systems worldwide. This study aimed to quantify socioeconomic inequality in facing catastrophic healthcare expenditures (CHE) and to identify the main factors contributing to socioeconomic inequality in CHE in Iran. Methods: A total of 37 860 households were drawn from the Households Income and Expenditure Survey, conducted by the Statistical Center of Iran in 2017. The prevalence of CHE was measured using a cut-off of spending at least 40% of the capacity to pay on healthcare services. The concentration curve and concentration index (C) were used to illustrate and measure the extent of socioeconomic inequality in CHE among Iranian households. The C was decomposed to identify the main factors explaining the observed socioeconomic inequality in CHE in Iran. Results: The prevalence of CHE among Iranian households in 2017 was 5.26% (95% confidence interval [CI], 5.04 to 5.49). The value of C was -0.17 (95% CI, -0.19 to -0.13), suggesting that CHE was mainly concentrated among socioeconomically disadvantaged households in Iran. The decomposition analysis highlighted the household wealth index as explaining 71.7% of the concentration of CHE among the poor in Iran. Conclusions: This study revealed that CHE is disproportionately concentrated among poor households in Iran. Health policies to reduce socioeconomic inequality in facing CHE in Iran should focus on socioeconomically disadvantaged households.

• East Asian Economic Review
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• v.19 no.4
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• pp.357-379
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• 2015

We investigate interconnectedness and the contagion effect of default risk in Asian sovereign CDS markets since the global financial crisis. Using dynamic conditional correlation analysis, we find that there are significant co-movements in Asian sovereign CDS markets; that such co-movements tend to be larger between developing countries than between developed and developing countries; and that in the co-movements intra-regional nature is stronger than inter-regional nature. With the Spillover Index model, we measure contagion probabilities of sovereign default risk in CDS markets of seven Asian countries and find evidence of contagion effects among six of them; Japan is the exception. In addition, we find that these six countries are affected more by cross-market spillovers than by their own-market spillovers. Furthermore, a rolling-sample analysis reveals that contagion in the Asian sovereign CDS markets expands during episodes of extreme economic and financial distress, such as the Lehman Brothers bankruptcy, the European financial crisis, and the US-credit downgrade.