• 아태비즈니스연구
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• 제13권1호
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• pp.37-52
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• 2022

Purpose - The objective of this study is to investigate what motivates global FDI inflows in the different economic development level and to clarify the FDI motivation type in the level of qualitative economic growth. Design/methodology/approach - Major macroscopic social·economic factors induced FDI inflows were analyzed using fixed-effect panel regression with 30-year panel data of 28 countries from 1985 to 2014. For analysis in the stage of economic growth, two category of developed and developing countries was used. And to analyze FDI motivation type in the level of qualitative economic growth, 4 shares of GDP; consumption·government·investment expenditure and export, was used as explanatory variable. Findings - In developed country, TFP(total factor productivity) and GDP have a great influence on FDI inflows, and consumption and labor compensation have a slight effect. This result indicates that the market seeking-driven, horizontal type investment is shown along with efficiency seeking investment. In developing country, human capital and TFP is shown to have greater impact on FDI inflows and labor compensation, exports, investment and government expenditures also have impacts. Thus it has confirmed that not only efficiency-seeking vertical investment for using low cost well educated laborer, but also government-driven economic growth and export policies could affect the FDI inflows. Research implications or Originality - The FDI investment decision making of multinational companies is decided by their own purpose. But, in the concept of as follows; 1) FDI is a long-term capital flowing for maximization of economic utility with limited global resource, 2) Thus FDI could be affected by macro socio·economic factors of host country. 3) Also such macro factors is different by each economic growth qualitative level. Therefore macro socio·economic factors of each country could be affected by the qualitative level of their own economic growth. To attract FDI inflows, it is desirable to implement differentiated incentive policies in the qualitative level of economic growth. Furthermore in developing countries it is recommended to implement government driven economic growth policies as follows; fostering well educated human resources, improving technology productivity in the relative lower cost labor market compared to developed countries and boosting international export volume.

• Management Science and Financial Engineering
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• 제20권2호
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• pp.13-25
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• 2014

We investigate an optimal retirement time and consumption/investment policy of a wage earner who expects to find a better investment opportunity after retirement by being freed from other work and participating fully in the financial market. We obtain a closed form solution to the optimization problem by using a dynamic programming method under general time-separable von Neumann-Morgenstern utility. It is optimal for the wage earner to retire from work if and only if his wealth exceeds a certain critical level which is obtained from a free boundary value problem. The wage earner consumes less and takes more risk than he would without anticipation of a better investment opportunity.

• Management Science and Financial Engineering
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• 제19권2호
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• pp.43-47
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• 2013

This paper studies an optimal consumption and portfolio choice problem for unemployed people who have an option to work. Our problem is to find optimal consumption, risky investment, and workforce re-entry strategies for the unemployed. We find a closed form of the critical wealth level to re-enter the workforce. We show that the unemployed with a higher disutility of labor or a larger relative risk aversion are more reluctant to re-enter the workforce.

• 대한수학회보
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• 제60권4호
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• pp.1101-1129
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• 2023

In this study we propose a model of optimal retirement, consumption and portfolio choice of an individual agent, which encompasses a large class of the models in the literature, and provide a methodology to solve the model. Different from the traditional approach, we consider the problems before and after retirement simultaneously and identify the difference in the dual value functions as the utility value of lifetime labor. The utility value has an option nature, namely, it is the maximized value of choosing the retirement time optimally and we discover it by solving a variational inequality. Then, we discover the dual value functions by using the utility value. We discover the value function and optimal policies by establishing a duality between the value function and the dual value function. The model and approach offer a significant advantage for computation of optimal policies for a large class of problems.

• 디지털융복합연구
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• 제18권5호
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• pp.127-138
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• 2020

본 연구는 2010년과 2017년 두 시점에서 한국 가계의 소비유형 전이 패턴과, 소비유형간 전이에 미치는 생애주기의 영향력을 알아보고자 하였다. 이를 위해 한국노동패널 2010년과 2017년 조사의 4,717가구 자료를 활용하여 잠재프로파일분석 및 로지스틱회귀모형 분석을 하였다. 두 시점의 잠재프로파일분석 결과, 동일하게 식비중심형, 교육비중심형, 의료비중심형, 내구재중심형의 4개 유형이 도출되어 가계의 소비유형이 두 시점 사이에 커다란 변화가 없음을 확인하였다. 소비유형의 변화를 살펴본 잠재전이분석 결과는 가구 수준에서 두 시점 간 소비유형 변화가 활발히 나타나고 있음을 보여주었다. 소비유형 전이가 생애주기에 따라서 어떻게 달라지는지 알아보고자 로지스틱회귀모형분석을 한 결과 혼인지위 변화, 자녀의 출생 및 분가가 유의한 설명변수였다. 이는 소비정책을 수립하거나 기업에서 마케팅 대상을 정할 때 가구 소비유형이 어떻게 변화되는지 생애과정관점을 고려해야 한다는 시사점을 준다.

• 한국농공학회지
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• 제36권4호
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• pp.33-38
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• 1994

Floating-type automatic turnout was developed for the purpose of reducing labor cost and labor-working hours related to turnout management. The point of automation is to use a flexible-float within the turnout. The weight of float is changed by emptying and filling with water at the beginning and ending of irrigation. The turnout is controlled to open and close small bole on the float bottom using electromagnets. With the weight control of float. the gate of turnout is opened by the empty float to begin irrigatiom and is closed by the filled float to stop irrigation. The turnout was designed to be operated by the main computer and to minimize electric power consumption by sending an electric current at the beginning and ending of irrigation. The functional experiment was succesfully carried out and the rating curves for both free overflow condition and submerged flow condition were derived.

• East Asian Economic Review
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• 제25권4호
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• pp.361-401
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• 2021

This paper sets up a two agent small open economy with monopolistically competitive firms and catching up with the Joneses to investigate the labor and capital Laffer curve, taking into account aging population along the line of Auray et al. (2016), Galí and Monacelli (2005), and Trabandt and Uhlig (2011). The paper finds that the higher the market power of firms is, the larger the consumption inequality between asset holders and non-asset holders is in the economy with aging population. It also finds that there is room for government to increase the tax revenue by raising tax rates under the economy with higher markup, as households will work more hours to compensate for their loss of labor income to tax hikes. The expected maximum tax revenue is likely to shrink with progressive taxations, since non-asset holders with additional dividend income work less and consume more. The paper finds that the fiscal multiplier decreases with the degree of progressive redistribution.

• 자원ㆍ환경경제연구
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• 제26권1호
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• pp.37-56
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• 2017

본 연구에서는 우리나라의 제조업을 대상으로 에너지소비, 생산, 수출의 상호 인과관계를 분석하였다. 우리나라 제조업을 9개 산업으로 나누어 1991년부터 2013년까지 패널 데이터를 구축하여 VECM 방법론과 더불어 Demitrescu and Hurlin (2012)에 의해서 개발된 패널 Granger causality test 방법을 사용하였다. 분석결과에 의하면, 생산에서 에너지소비로, 수출에서 에너지소비로의 Granger Causality가 존재하였다. 하지만 그 역으로는 Granger Causality가 성립하지 않았다. 따라서 제조업부문의 에너지절약정책은 생산이나 수출에 역효과를 발생하지 않으면서 추진될 수 있다는 Qzturk (2010)의 보존가설을 지지하고 있다. 장기적으로는 생산, 에너지소비, 수출, 노동, 자본 간에 장기 공적분관계가 존재하며, 장기균형관계에서 에너지소비가 생산의 증가에 기여하는 것으로 나타났다.

• KDI Journal of Economic Policy
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• 제40권2호
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• pp.53-73
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• 2018

Using an overlapping generations model, this paper examines tax policy effects across generations. The model incorporates housing assets separately from capital assets and includes taxes on labor income, capital income, consumption and housing assets. Tax reforms for each tax rate have different effects on tax burdens across generations and the overall efficiency of the economy, leading to different welfare costs for generations. Specifically, raising housing property taxes results in the smallest welfare loss by future generations, as in the model it does not hurt economic efficiency and the tax burden increases mainly for the elderly, who have accumulated housing assets in preparation for retirement.

• 산업경영시스템학회지
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• 제18권33호
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• pp.161-171
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• 1995

When physical distribution cost can be correctly measured, its management can also be efficient. Thus the primary objective of the study is to develop systems for measuring correctly physical distribution cost. The systems have two aspects : the One is the consumption of the resourses(materials, labor service, the other services), the other is the creation of physical distribution services(transportation, storage, cargo, packing, distribution conversion, management). By measuring the cost through the systems, the commoditization of the physical distribution services is possible and measurement of the cost and revenue can also be reasonable ,which makes its management efficient.