• Journal of the Korean housing association
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• v.20 no.4
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• pp.69-78
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• 2009

The purpose of this study is to identify which is the better indicator to forcast housing tenureship between permanent income and current income, and study the effects of non-human capital asset on housing tenureship. To forcast permanent income, a statistic regression equation is used with current income as the dependent variable. Multi-nomial logistic model is used to forcast the housing tenureship Using current income as the dependent variable delivered a more accurate result than using permanent income. Current income is used as a dependent variable and sex, age, education and occupation are used as independent variables to forcast permanent income. Non-human capital asset is also used as an independent variable. Also, excluding non-human capital asset variable when forcasting bothe permanent income and housing tenureship proved to be more accurate. Because permanent income, the sum of future income and current asset, is a good indicator of current consumption including housing, the result with permanent income should be more accurate than the forcast using current income. This implies an underdevelopment of a housing mortgage system that enables people to consume now on the basis of their future income. The Korea's unique Chonsei housing rental system has also made it difficult to forcast housing tenureship based on people's permanent income and asset. While, the Key-money of Chonsei housing and the housing asset of homeowners with debt are very similar in their amount, the result is completely different. One is a renter and the other is a homeowner.

• Journal of Labour Economics
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• v.38 no.2
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• pp.25-58
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• 2015

This paper compares income and consumption inequalities in Korea and applies the permanent income hypothesis to interpret the linkage between the two inequalities. Income inequality has been increasing since 1990 while consumption inequality had been decreasing until the early 2000s when the two inequalities started to co-move. Permanent income hypothesis explains reasonably well the consumption pattern in the recent period, which reflects the increased access to asset markets by the Korean households. Consequently, the co-movement of income and consumption inequalities in the recent period implies that inequality in permanent income components are fluctuating.

• Journal of Labour Economics
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• v.30 no.3
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• pp.77-102
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• 2007

This paper compares income and consumption for their relative effectiveness in measuring inequality. Although income inequality has received more attention in the literature, the permanent income hypothesis links consumption to welfare more directly than income. To the extent economic agents smooth their consumptions, consumption inequality is a better indicator for an economy's welfare inequality, and it is especially so when income volatility is high. The empirical analysis in this paper indicates that the income and consumption patterns among the Korean wage/salary worker households are quite consistent with the permanent income hypothesis. Further, it is found that consumption inequality tends to be lower than income inequality, and more importantly, that the two inequalities do not always vary in the same direction. These results call for stronger emphasis on consumption inequality in inequality literature.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.4
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• pp.51-60
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• 2017

India is the top recipient of workers' remittance flows; recent data indicate that the Remittances/GDP ratio has increased from 2.7% in 2000 to 3.36% in 2015. We apply a consumption behavior model, based on the "permanent income hypothesis", to estimate the consumption augmentation and the stability impact for the period of 1989-2014. The independent variables are: (i) real per capita income (exclusive of remittances) is the measure of "permanent income", (ii) remittances is the measure of "transitory income", and (iii) real interest rate as the indicator of consumers' ability for intertemporal consumption. The economic ramifications are important since current global risk factors could decrease flows in the future. The results indicate the significance of all three variables; there are: (i) evidence of significant consumption augmentation, (ii) consumption responds higher to remittances than to real income, the remittance elasticity is 0.571 and the income elasticity is 0.31, and (iii) evidence of pro-cyclical effect. The VAR model indicates some linkages and causality in the series that result in small response to the shocks. Policies to increase or stabilize remittance flows and to leverage remittances for economic development are important.

• Korean Management Science Review
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• v.11 no.2
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• pp.29-41
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• 1994

This paper analyses the stochastic nature of the Permanent Income Hypothesis (PIH) by specifying the variance-covariance structure of PIH based on Hall and Mishkin[3]. Maximum likelihood is employed to estimate the model by explicitely incorporating the heteroscedastic nature of the data into the likelihood. The data used are individual Korean household consumption and income data. The results indicate that the data are generally consistent with the Permanent Income Hypothesis, and about 11 percent of the total variation in consumption may be attributable to the excess sensitivity of consumption to income.

• KIEAE Journal
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• v.10 no.1
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• pp.11-18
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• 2010

Permanent rental housing complex is subjected to both an increase in the crime rate due to its residential population structure and social, economic isolation for insecurd income of the residents. It should be considered that the densely populated area with low-income group of the city causing many problems related with the community. This study focused on the Man-soo 7 housing estate in Incheon with the area's average scale and ratio is made as an effort to include the residents who live in the permanent rental housing area among the members of the healthy community. The result of the research suggests the method of housing improvement to establish the successful support institution for self-sufficiency of the low income inhabitants analazying the demand of the residents through a survey categorized into resident support system, public workplace and inhabitant participation.

• Journal of the Korean Regional Science Association
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• v.34 no.1
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• pp.49-60
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• 2018

The purpose of the study is to analyze the housing problems of single-person household in 20-35 age group. Using the survey of Household's Consumption in 2014, we estimated the housing demand function of young single-person household in Seoul. As a result, the coefficient of the permanent income for young single-person household housing was significantly lower than other groups and the housing demand was also lower than others. Since current income isn't come up to permanent income enough, the housing consumption of young single-person household shrinks. It implies the role of the housing financial market is less activated. That is, the difficulty of realization of permanent income and lack of housing finance are the main cause of the imbalance of housing demand of one young person. Therefore, it implies that in order to alleviate the housing problem of the young single-person household, a policy to balance the permanent income with the housing demand is needed.

• Journal of the Korean housing association
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• v.14 no.3
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• pp.93-100
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• 2003

Considering the present development situation of public rental apartment since 1982, the supply of homeless housing for low-income dwellers has contributed a amount of quantities, but has been deficient qualities in housing policy. To reflect the architect the properties of dwellers in rental apartment, this study is aimed at investigating the residential character and the consciousness of housing movement through questionaries in permanent rental apartment and fifty years period rental apartment complexes. The results of this study were as follows; The permanent rental apartment is dissatisfied with site location, site shape and building layout in housing environment view, the fifty years period rental apartment is dissatisfied with building area, rental bond, rental fee and maintenance cost in economics view. Housing type of movement preference hereafter is showed “rental apartment” as priority. Therefore, it is necessary to construct public rental apartment for low-income dwellers increasingly.

• Journal of the Korean housing association
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• v.15 no.1
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• pp.33-40
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• 2004

Considering the present development situation of rental apartment since 1982, the supply of rental housing for low-income dwellers has contributed a amount of quantities, but has been deficient qualities in housing policy. To propose the device of remodeling for low-income dwellers in deteriorated apartment, this study investigated the energy consumption of central heating system and the characteristics of maintenance cost in permanent rental apartment. The results of evaluation of alternative heating systems by Life Cycle Costing in permanent rental apartment were as follows; From Life Cycle 15∼20 years by Present Worth Method, the economic heating system of remodeling is central heating system (heat source: B-C oil), unit heating system(natural gas), central heating system(natural gas) in order.

• Journal of Digital Convergence
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• v.5 no.1
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• pp.117-130
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• 2007

This paper examines whether there exists discrimination of the information usage pattern between tenants of permanent and temporary public rental housing in Korea. Moreover, we focus to examine on that matters between two groups, $7{\sim}12$ pyeongs and $11{\sim}24$ pyeongs that indicate permanent and temporary public rental housing respectively. The results derived in this paper can be summarized as follows: there exists statistical significance in using computer, internet, communication and broadcasting, on the other hand, insignificance in using satellite communication and telephone between them. The implication of this results shows that as widen income gap, also widen gaps in using computer and internet between them. Thus government public rental housing policy should focus to make narrow income gap to diminish information gap between those groups.