• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.91-129
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• 2024

The Bank of Korea, through a legal amendment in 2011 following the financial crisis, was entrusted with the additional responsibility of financial stability beyond its existing mandate of price stability. Since then, concerns have been raised about the prolonged increase in household debt compared to income conditions, which could constrain consumption and growth and increase the possibility of a crisis in the event of negative economic shocks. The current accumulation of financial imbalances suggests a critical period for the government and central bank to be more vigilant, ensuring it does not impede the stable flow of our financial and economic systems. This study examines the applicability of the Integrated Inflation Targeting (IIT) framework proposed by the Bank for International Settlements (BIS) for macro-financial stability in promoting long-term economic stability. Using VAR models, the study reveals a clear increase in risk appetite following interest rate cuts after the financial crisis, leading to a rise in household debt. Additionally, analyzing the central bank's conduct of monetary policy from 2000 to 2021 through DSGE models indicates that the Bank of Korea has operated with a form of IIT, considering both inflation and growth in its policy decisions, with some responsiveness to the increase in household debt. However, the estimation of a high interest rate smoothing coefficient suggests a cautious approach to interest rate adjustments. Furthermore, estimating the optimal interest rate rule to minimize the central bank's loss function reveals that a policy considering inflation, growth, and being mindful of household credit conditions is superior. It suggests that the policy of actively adjusting the benchmark interest rate in response to changes in economic conditions and being attentive to household credit situations when household debt is increasing rapidly compared to income conditions has been analyzed as a desirable policy approach. Based on these findings, we conclude that the integrated inflation targeting framework proposed by the BIS could be considered as an alternative policy system that supports the stable growth of the economy in the medium to long term.

• The Korean Journal of Food And Nutrition
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• v.16 no.3
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• pp.224-231
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• 2003

The development of food science in the near future probably depends on the advance in functional food science. Actually, a number of substances and products with potential for disease risk reduction rather than simply for health maintenance have been investigated for their body-modulating functions. Some of them have been applied in practice to the industrialization of functional foods in terms of foods for health uses. Health is becoming a more important aspect of food. Consumers increasingly see the link between food and health, thus generating growing levels of consumer interest in more actively managing their diets and, by implication, their health. there is demand from consumers and strong manufacturer push towards the development of food as medicine. Pharmaceutical companies are currently focused on the medical aspects of food as medicine, but it is expected that there will be an increase in the rate of active ingredients for lifestyle application.

• The Korean Journal of Financial Management
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• v.26 no.1
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• pp.127-163
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• 2009

This paper examines the results of survey that the foreign ownership is cointegrated with capital market conditions in Korea using Vector Error Correction Model (VECM) and how the mechanism of innovations and dynamics among the foreign ownership and capital market proxies in the VECM was described. Specifically, we find that the foreign ownership and capital market proxies follow I (1) process and there are cointegrated relations between the foreign ownership and capital market proxies. Adopting the impulse response function and variance decomposition in the VECM, we suggest, in turn, the default risk premia, liquidity of market and the rate of interest in long term business cycle take on a special function on the KSE and KOSDAQ. Finally, we also offer evidences of which there are differences of the mechanism of dynamics and innovations between on the KSE and on the KOSDAQ.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.18 no.4
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• pp.283-294
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• 2014

In this paper we study consumption-labor supply decision of an agent who prepares for retirement at a known time in the future. The agent is assumed to have a preference which is represented by the von Neumann-Morgenstern utility function in which the felicity function has constant relative risk aversion over the composite of consumption and leisure. The composite is obtained by the Cobb-Douglas function. A general problem has been studied by Bodie et al. (2004). We contribute to the literature by deriving the Slutsky equations and conducting comparative statics. In particular, we show that wealth effect can exhibit an interesting property depending upon the time until retirement, as the interest rate increases.

• Journal of Yeungnam Medical Science
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• v.35 no.1
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• pp.27-35
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• 2018

Diabetes and depression are serious chronic conditions. As a result of their increasing prevalence, diabetes and depression, together with population growth and aging, are public health issues. The rate of depression in adults with either type 1 diabetes or type 2 diabetes is high relative to the general population. The coexistence of diabetes and depression has attracted much interest. Although it is unclear whether diabetes and depression are causally linked, most studies have shown that the association between diabetes and depression might be bidirectional. Currently, emotional well-being is becoming an increasingly important aspect of diabetes care and self-management. Psychiatric disorders and diabetic distress among people with diabetes may increase the risk of diabetes complication and mortality. Thus, assessment and appropriate management of depression in people with diabetes should be considered to achieve psychological well-being and optimize medical outcomes.

• Journal of the Korean Society of Food Culture
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• v.17 no.5
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• pp.629-637
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• 2002

This study sought to determine family restaurant patrons' attitudes toward nutrition and healthy menus. A written questionnaire was handed out to 300 dine-in customers at the three different sites of T brand family restaurant. A total of 265 questionnaires were usable for data analysis, resulting in 88% response rate. Two attitude statements eliciting the strongest agreement were that 'Diet and chronic diseases risk are closely connected each other(4.44)' and 'Koreans are more nutrition & health conscious than they were in the past(4.41)'. The attitude statement-that nutrition is important when I eat out- received the lowest scores(2.92), which indicated that nutrition was not yet considered the most important factor when dining out. 23% of the respondents were interested in healthful foods, while 30% said they were unconcerned. Nutrition conscious group showed significantly (p<.000) higher attitude scores for most of statements than unconcerned group. Significant differences were found in age groups(p<.05, p<.01, p<.001), income levels(p<.05), educational levels(p<.05), health status groups(p<.05), and weight control interest groups(p<.05). Older respondents, respondents with higher income and educational levels were more interested in nutrition and healthy menus. Respondents who reported good health status and showed higher interest in weight control were more interested in nutrition and healthy menus. These findings indicate that restaurant firms should respond to consumers' increased interest in nutrition and healthy menus by offering healthful menus and increasing nutrition marketing activities. This may positively result in increasing customer counts and revenue as well as customer satisfaction level and brand image of restaurant firms. Moreover, restaurant firms are strongly encouraged to play an active role in promoting public's nutritional and health status because increasing consumption of meals away from home will seriously affect good health of our consumers.

• Information Systems Review
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• v.25 no.1
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• pp.165-187
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• 2023

The continuous increase in life expectancy and high interest in health has brought about significant changes in the use of health information by the public according to the development of information technology represented by the Internet and smartphones. As the medical market expands to the mobile health environment, many health-related apps have been created and distributed, but the acceptance rate is slow as it has become challenging to provide services due to various regulations. In this study, perceived value, perceived risk factors (psychological risk, risk of time-loss, legal risk), and perceived benefits (usefulness, interaction, autonomy) were derived and verified as factors that affect the acceptance resistance of personal health record apps based on the privacy calculation model. In addition, by analyzing the moderating effect of trust in the manufacturer, how the perceived risk and perceived benefit affect the perceived value was verified. A survey was conducted on Korean college students who recognized the personal health record apps but did not use them, and 127 samples were analyzed using structural equations. As a result of hypothesis verification, perceived value has a negative effect on acceptance resistance, perceived risk (risk of time-loss) has a negative effect on perceived value, and perceived benefits (usefulness, interaction, autonomy) were found to have a positive effect on perceived value. Trust in manufacturers has weakened the impact of perceived risks (legal risk) on perceived values. This study is expected to play an important role in maintaining a competitive advantage in the personal health record app market environment by identifying and proposing detailed criteria for reducing the acceptance resistance of personal health record apps.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.11
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• pp.2131-2137
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• 2008

In this paper, COP (center of pressure) during quiet standing and squat-and-stand movement was analyzed to compare the postural control of young and elderly subjects with special interest in the elderly females who were reported to have higher fall rate than the elderly males. Subjects include the young subjects (10 males: $21.8{\pm}2.6yrs$, 10 females: $20.4{\pm}0.3yrs$) and the elderly subjects (8 males: $75.5{\pm}4yrs$, 8 females: $72.3{\pm}3.5yrs$). Analysis parameters were the mean of the distance between the instantaneous COP and the average COP (COP distance) and the mean of the COP movement velocity (COP velocity) in both AP (anterio-posterior) and ML (media-lateral) directions. During quiet standing, the COP distance in ML direction of elderly females was significantly greater than that of elderly males and the COP velocity of elderly females in both ML and AP direction were significantly greater than those of all the other groups. During squat and stand movement, the COP distance of elderly females was not significantly different with that of the elderly males. However, the COP velocity of elderly females was significantly greater than that of all the other groups. The large lateral weight shift (COP distance) of elderly females during quiet standing may explain their greater fall rate. However, this does not apply to squat-and stand movement. In contrast, COP velocity results show that the elderly females' COP is rapidly trembling compared to that of elderly males during both quiet standing and squat and-stand movement. This results suggest that rapid trembling or postural sway may reflect the reduced postural control ability and the risk of falling.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.147-179
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• 2005

It is frequently said that mortgage-backed securities (MBS) of different security designs are issued in an attempt to meet the varying needs and expectations of investors. If this is true indeed, MBS of complicated risk-return characteristics are likely to be priced higher than MBS of simple risk-return characteristics we. We test this implication by establishing a recombining binomial interest rate prepayment model with a burnout effect embedded. More specifically, we compare the relative values (utilities) of a pass-through and a PAC- Support collateralized mortgage obligation(CMO), and theoretically show why and how the CMO is more highly valued than is the pass-through. The model is established such that mortgage prepayment is a function of the current value of, and the past path of, the mort-gage market rate. Since we work on not the total value of the two MBS but the value of each tranche of either MBS, the test results could be robust to slightly different versions of similar tests, which may be done in the future.

• International Journal of Automotive Technology
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• v.8 no.4
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• pp.493-504
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• 2007

This paper proposes a stereo vision-based forward obstacle detection and distance measurement method. In general, stereo vision-based obstacle detection methods in automotive applications can be classified into two categories: IPM (Inverse Perspective Mapping)-based and disparity histogram-based. The existing disparity histogram-based method was developed for stop-and-go applications. The proposed method extends the scope of the disparity histogram-based method to highway applications by 1) replacing the fixed rectangular ROI (Region Of Interest) with the traveling lane-based ROI, and 2) replacing the peak detection with a constant threshold with peak detection using the threshold-line and peakness evaluation. In order to increase the true positive rate while decreasing the false positive rate, multiple candidate peaks were generated and then verified by the edge feature correlation method. By testing the proposed method with images captured on the highway, it was shown that the proposed method was able to overcome problems in previous implementations while being applied successfully to highway collision warning/avoidance conditions, In addition, comparisons with laser radar showed that vision sensors with a wider FOV (Field Of View) provided faster responses to cutting-in vehicles. Finally, we integrated the proposed method into a longitudinal collision avoidance system. Experimental results showed that activated braking by risk assessment using the state of the ego-vehicle and measuring the distance to upcoming obstacles could successfully prevent collisions.