• 사회경제평론
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• v.31 no.2
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• pp.71-104
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• 2018

The purpose of this study is to reveal the significance of regional loan-to-deposit ratio and local banks through Post-Keynesian endogenous monetary theory. According to endogenous monetary theory, banks, rather than financial intermediaries, are credit creation agencies that create deposit money through loans. On the other hand, according to the existing view which interprets bank as a financial intermediary, it is seen that the higher the loan-to-deposit ratio of the deposit bank in a region, the more active the lending activity based on the deposit inflow. However, according to the endogenous monetary theory, the loan-to-deposit rate is reinterpreted as an indicator of regional balance. Especially, relatively high lending-to-deposit rate of a region is interpreted as follows: money circulation in the region is shrinking due to the outflow of deposits created through loans in the region. In addition, when considering the local based financial practices of local banks, their ability to create credit, and their impact on the real economy, it is necessary to positively review the local bank restructuring policy from the perspective of balanced regional development.

• International Area Studies Review
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• v.14 no.2
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• pp.61-78
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• 2010

The paper is basically attempted to reveal a possibility of monetary unification and setting an anchor currency in North East Asian economies such as South Korea, China, and Japan. The Cobb-Douglas utility function is tentatively built by a Walrasian economic framework. Korean Won(KRW) is represented for a numeraire in a structural model, and the estimation of a parameter is performed by 2SLS and GARCH-M models. Empirical evidence is found that not only monetary unification itself in this regime seems not to be practicable, but also setting an anchor currency by Chinese Yuan(CNY) or Japanese Yen(JPY) is also inappropriated due to the fact that the estimated parameter is not converged to a unity. Walrasian equilibria are enhanced by the convergence to a unity in the model. It also has to be mentioned that a number of necessary and sufficient conditions should be fulfilled prior to discuss a monetary unification in North East Asian economies. Instead, Asia currency unit(ACU) is more feasible in reality.

• International Journal of Computer Science & Network Security
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• v.21 no.6
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• pp.156-160
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• 2021

Every day brings a new challenge to the humanities. Life nowadays needs accuracy, privacy, integrity, authenticity, and security to run life systems especially the monetary system. Things now differ from previous centuries. Multiple varieties in digital banking have opened the new and most advanced innovations for human beings. The monetary system is going to developed day by day to facilitate the public. Electronic money has amazed the world and gave a challenge to central banking. For this purpose, there will be a need for strict security, information, and confidence. Blockchain technology has opened new gateways. Bitcoin has become the most famous digital currency, which has created a thunderstorm in digital marketing. Blockchain, as a new Financial Technology, has satisfied all the security issues and satisfied doing business in secure ways that encourage investors to invest and keep the world business wheel. Assessment of the sustainability of implementing Bitcoin in financial institutions will be discussed. Every new system has its pros and cons in which a clear vision of what we are about to use can be sought. Through this research paper, a demonstration of the monetary system evolution, the new ways of doing business, some evidence in a form of academic cases will be demonstrated through comparison a table, a suggested method to transfer to the new system in safe mode will be proposed, and a conclusion will be concluded.

• East Asian Journal of Business Economics (EAJBE)
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• v.1 no.1
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• pp.8-16
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• 2013

Purpose: The objective of this paper is to identify and assess the contribution of budgetary, monetary and institutional shocks affecting the Tunisian economy over the period 1976-2003. The methodology used is vector autoregressive models and structural recent techniques for the analysis of time series related. The empirical results show a significant relationship between the supply shock and institutions on the one hand, and between institutional shocks and economic activity on the other hand. Research Design, Data and Methodology: As part of this section we will try to identify and assess the contribution of various shocks to macroeconomic variables' fluctuations for the Tunisian economy. The study period is: 1976-2003 and observations are annual. Results: The real business cycle theory argues that fluctuations in aggregate economic activity are the result of the interaction of the only real factors namely agents' preferences, technological opportunities, factor endowments and possibly certain institutional constraints. Conclusions: The lowest contribution to the variability of these rights is the monetary shock. As for "civil liberties", the largest share of their variability is the shock relating to the "political rights" during the first four periods .

• East Asian Economic Review
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• v.22 no.3
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• pp.337-370
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• 2018

This paper discusses the design of monetary policy in a New Keynesian small open economy framework by introducing nominal wage rigidities and incomplete exchange rate pass-through on import prices. Three main findings are summarized. First, with the existence of an incomplete exchange rate pass-through and nominal wage rigidities, the optimal policy is to seek to minimize the output gap, the variance of domestic price and wage inflation, as well as deviations from the law of one price. Second, the CPI inflation targeting Taylor rule is welfare enhancing when there is a technological shock to the economy. The exception occurs when there is a foreign income shock, which minimizes welfare losses under the domestic inflation targeting Taylor rule. Last, two stylized Taylor rules turn out to be a bad approximation, but the modified Taylor rules that respond to the unemployment gap rather than the output gap are a closer approximation to the optimal policy.

• Korean Journal of Human Ecology
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• v.23 no.1
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• pp.1-14
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• 2014

The purpose of this study is to examine the effects of gender role attitudes and family service utilization on self-esteem among single parents. This study used data from the seventh wave of Korean Welfare Panel Study and analyzed 90 single parents. Hierarchical multiple regression analyses showed that health status, economic situation, gender role attitudes, and non-monetary family welfare service had significant effects on single parents' self-esteem. Single parents who had higher traditional gender role attitudes show lower levels of self-esteem. Also use of a non-monetary family service increased the levels of self-esteem. However, use of a monetary family service was not significantly associated with the levels of self-esteem. The findings indicate that services and programs to promote single parents' gender role flexibility should be developed. Also, it is necessary to establish a service system to reduce multiple role stress among single parents.

• KDI Journal of Economic Policy
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• v.40 no.1
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• pp.1-30
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• 2018

Ongoing demographic changes have brought about a substantial shift in the size and age composition of the population, which are having a significant impact on the global economy. Despite potentially grave consequences, demographic changes usually do not take center stage in many macroeconomic policy discussions or debates. This paper illustrates how demographic variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and investment, and fiscal balances, from an empirical perspective. Based on empirical findings-particularly regarding inflation-we discuss their implications on macroeconomic policies, including monetary policy. We also highlight the need to consider the interactions between population dynamics and macroeconomic variables in macroeconomic policy decisions.

• KDI Journal of Economic Policy
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• v.37 no.4
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• pp.1-20
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• 2015

We examine the validity of popular exchange rate models such as the purchasing power parity (PPP) hypothesis and the monetary model for Korean won/US dollar exchange rate. Various specification tests demonstrate that Korean data are more favorable for both models based on time-varying cointegration coefficients as compared to those based on constant cointegration coefficients. When the abilities to predict future exchange rates between those models based on time-varying cointegration coefficients are compared, an in-sample analysis shows that the time-varying PPP (monetary model) has better predictive power over horizons shorter (longer) than one year. Results from an out-of-sample analysis indicate that the time-varying PPP outperforms models based on constant cointegration coefficients when predicting future exchange rate changes in the long run.

• Health Policy and Management
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• v.10 no.1
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• pp.95-110
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• 2000

The purpose of this study is to evaluate work values of hospital employees. Their work values was compared with that of other corporate's employees or among that of specialties in hospital. It was surveyed to 893 persons; 164 in hospital and 709 in others. The work values of hospital employees are similar to that of other corporate's employees. But they have first priority to working environment, and emphasize monetary incentive much more than hierarchical development. There are some gap in work value between age groups in hospital, different from other corporate. That means hospital manager need to development the more developed work value in hospital. The work values are different in monetary incentive, hierarchical development, safety, working environment, creativity among specialties in hospital. The more special employees emphasize much more to monetary incentive, hierarchical development, working environment and the less special employees have priority to safety work value. Specially, because the hospital managers want to have safety than creativity, it must to make some changing program of work value for advance of future hospital.

• East Asian Economic Review
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• v.18 no.3
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• pp.301-335
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• 2014

In this paper, we consider a small open economy under the New Keynesian model with unemployment of Gal$\acute{i}$ (2011a, b) to discuss the design of the monetary policy. Our findings can be summarized in three parts. First, even with the existence of unemployment, the optimal policy is to minimize variance of domestic price inflation, wage inflation, and the output gap when both domestic price and wage are sticky. Second, stabilizing unemployment rate is important in reducing the welfare loss incurred by both technology and labor supply shocks. Therefore, introducing the unemployment rate as an another argument into the Taylor-rule type interest rate rule will be welfare-enhancing. Lastly, controlling CPI inflation is the best option when the policy is not allowed to respond to unemployment rate. Once the unemployment rate is controlled, however, stabilizing power of CPI inflation-based Taylor rule is diminished.