• Title/Summary/Keyword: Policy Model

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The Long-lived Volatility of Korean Stock Market and Its Relation to Macroeconomic Conditions (한국 주식시장의 지속적 변동성과 거시경제적 관련성 분석)

  • Kim, Young Il
    • KDI Journal of Economic Policy
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    • v.35 no.4
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    • pp.63-94
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    • 2013
  • This study aims to understand the long-run movement of volatility in Korean stock market by decomposing stock volatility into the long-lived and the short-lived components. In addition, I analyze how the low-frequency movement of stock market volatility is related to changes in macroeconomic conditions. The volatility decomposition is made based on the GARCH-MIDAS model, in which the long-lived volatility is constructed based on the combination of realized volatilities (RVs). The results show that the long-lived volatility contains information of up to 3~4 years of past RVs. In addition, the changes in the long-lived volatility can explain about two thirds of volatility changes in the Korean stock market from 1994 to 2009. Meanwhile, the low-frequency movement in the market volatility can be related to changes in macroeconomic conditions. The analysis shows that the stock market volatility appears to be countercyclical while showing a positive correlation with the inflation. In addition, the stock market volatility tends to rise as macroeconomic uncertainty increases. These results imply that macroeconomic policies aiming at economic stabilization could contribute to reduction in the stock market volatility.

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What Happened to Efficiency and Competition after Bank Mergers and Consolidation in Korea? (한국 은행들의 합병, 통합 이후 효율성과 경쟁도는 개선되었는가?)

  • Park, Kang H.
    • KDI Journal of Economic Policy
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    • v.33 no.3
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    • pp.33-55
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    • 2011
  • Market concentration in the Korean banking industry has markedly increased since the financial crisis of 1997-1998 because of M&As, P&As, and consolidation of banks. With this change, there has been a growing concern over market power in the Korean banking sector. We examine the effects of market concentration on bank efficiency and competition for the period of 1992-2006. Three different indicators of bank inefficiency are used in this study, including X-inefficiency that is derived from the directional technology distance function. The level of competition is measured by both the H-statistic of the Panzar-Rosse model and the level of the net interest margin and its standard deviation. Empirical results indicate that market concentration has not improved bank efficiency through scale economies or scope economies. Instead, recent mergers, acquisitions and consolidation of banks resulted in an increase in inefficiency measured by the three different indicators: X-inefficiency, labor inefficiency and asset inefficiency. While an increase in market share of individual banks improved bank efficiency, an increase in the overall market concentration ratio resulted in lower efficiency. Our study also finds that the Korean banking sector has been monopolistically competitive throughout the sample period except for the crisis period according to the H-statistic. Although an increase in market concentration ratio has not changed the overall level of bank competition, it has a positive significant effect on the level of the average interest margin.

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A Study on the Reasons for Participation in the Training of the Work-Learning Parallel Program (중소기업 일·학습병행제의 훈련 참여 이유에 관한 연구)

  • Park, Chan-Jun;Lim, Sang-Ho
    • Industry Promotion Research
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    • v.5 no.1
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    • pp.47-52
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    • 2020
  • In this study, parallel work-learning training, which was started in 2013 as a pre-employment promotion policy, is an important factor that determines the success or failure of training. As a time when various institutional supplementation is needed to encourage company participation, this study is to identify the factors of participation of companies participating in work-learning parallel. To this end, a questionnaire survey was conducted of companies participating in parallel work-learning in Chungnam, and the results were analyzed using the structural equation model. As a result of the study, the reason for the company's participation in parallel work-learning was firstly, 84% of government subsidy received education and training expenses. Second, 66% of workers were able to pay less than regular workers, and thirdly, it was easy to hire new employees in the field. 26%, 17% of them were invited by acquaintances for no particular reason. Therefore, the study suggests that participation in the work-learning parallel training contributes to the management costs, management of employee turnover, and human resource development. In future research, it is necessary to subdivide tests and estimates by conducting studies on regions, occupations, gender, wages, and years of service in Korea.

An Emotional Self-Regulation Program for Obese Children: Pilot Study Using Mixed Methods (비만아동을 위한 정서적 자기조절 프로그램의 개발 및 효과: 혼합방법론의 적용)

  • Kim, Hee-Soon;Ma, Yu-Mi;Park, Ji-Young;Kim, Seung-Hyun
    • Child Health Nursing Research
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    • v.19 no.3
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    • pp.187-197
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    • 2013
  • Purpose: The purpose of the study was to develop an emotional self-regulation program for obese children and to examine the program's effectiveness on depression, eating habits, and body mass index. Methods: The emotional self-regulation program was developed from theory-based strategies and a pre-post pilot study was conducted with 46 children (19: intervention, 27: control). The program included 6 weekly group sessions over 2 months. The embedded experimental model of concurrent mixed methods was used to better understand research outcomes by converging both quantitative and qualitative data. Anthropometric measurements and surveys were performed before and after the intervention. Three focus group interviews were conducted with all participants after intervention to explore their experiences. Results: The intervention group displayed decreased depression levels in the quantitative outcomes. The participants also expressed positive outcomes such as improvements in confidence, impulse management, intimacy, happiness, and losing weight. Conclusion: These findings suggest that emotional self-regulation skills are crucial factors for obese children not only to manage their emotional problems but also to control their weight. Further research is needed with a larger sample size and randomized controlled trials.

Spacio-temporal Analysis of Urban Population Exposure to Traffic-Related air Pollution (교통흐름에 기인하는 미세먼지 노출 도시인구에 대한 시.공간적 분석)

  • Lee, Keum-Sook
    • Journal of the Economic Geographical Society of Korea
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    • v.11 no.1
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    • pp.59-77
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    • 2008
  • The purpose of this study is to investigate the impact of traffic-related air pollution on the urban population in the Metropolitan Seoul area. In particular, this study analyzes urban population exposure to traffic-related particulate materials(PM). For the purpose, this study examines the relationships between traffic flows and PM concentration levels during the last fifteen years. Traffic volumes have been decreased significantly in recent year in Seoul, however, PM levels have been declined less compare to traffic volumes. It may be related with the rapid growth in the population and vehicle numbers in Gyenggi, the outskirt of Seoul, where several New Towns have been developed in the middle of 1990's. The spatial pattern of commuting has changed, and thus and travel distances and traffic volumes have increased along the main roads connecting CBDs in Seoul and New Towns consisting of large residential apartment complexes. These changes in traffic flows and travel behaviors cause increasing exposure to traffic-related air pollution for urban population over the Metropolitan Seoul area. GIS techniques are applied to analyze the spatial patterns of traffic flows, population distributions, PM distributions, and passenger flows comprehensively. This study also analyzes real time base traffic flow data and passenger flow data obtained from T-card transaction database applying data mining techniques. This study also attempts to develop a space-time model for assessing journey-time exposure to traffic related air pollutants based on travel passenger frequency distribution function. The results of this study can be used for the implications for sustainable transport systems, public health and transportation policy by reducing urban air pollution and road traffics in the Metropolitan Seoul area.

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Exploratory Study of a Revitalization Policy for High School Students' Volunteer Activities with Application of theory of Planned Behavior (고등학생의 자원봉사활동 활성화 정책을 위한 탐색적 연구 -계획된행동이론을 중심으로-)

  • Ko, Eun-Kyo
    • The Journal of the Korea Contents Association
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    • v.12 no.12
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    • pp.223-236
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    • 2012
  • This study's objective is to identify the factors that effect high school students' volunteer activities and suggest the political implications for the actual fulfillment of volunteer activities. We verified the relationships and effects on all factors based on the theory of planned behavior which is applied in explaining various human behavior. 220 high school student subjects for this study were randomly selected and filled out self-administered questionnaires. A total of 216 responses were used for analysis. Data analysis was done by obtaining reliability and validity after frequency analysis using SPSS 12.0 for Windows and AMOS 4.0 as well as evaluating the suitability of the study model. Regression analysis was carried out for hypothesis testing. The study results showed that firstly, all hypotheses based on the theory of planned behavior were supported re-confirming the usefulness of the theory in the field of various behavioral research for social welfare. Secondly, among all factors, perceived behavioral control showed to be the most influential in fulfilling active volunteer activities of high school students. Based on the results of our study, we proposed that research in the social welfare academia, practical endeavors in the educational field, and also political support system is necessary.

An Efficiency Management Scheme using Big Data of Healthcare Patients using Puzzy AHP (퍼지 AHP를 이용한 헬스케어 환자의 빅 데이터 사용의 효율적 관리 기법)

  • Jeong, Yoon-Su
    • Journal of Digital Convergence
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    • v.13 no.4
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    • pp.227-233
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    • 2015
  • The recent health care is growing rapidly want to receive offers users a variety of medical services, can be exploited easily exposed to a third party information on the role of the patient's hospital staff (doctors, nurses, pharmacists, etc.) depending on the patient clearly may have to be classified. In this paper, in order to ensure safe use by third parties in the health care environment, classify the attributes of patient information and patient privacy protection technique using hierarchical multi-property rights proposed to classify information according to the role of patient hospital officials The. Hospital patients and to prevent the proposed method is represented by a mathematical model, the information (the data consumer, time, sensor, an object, duty, and the delegation circumstances, and so on) the privacy attribute of a patient from being exploited illegally patient information from a third party the prevention of the leakage of the privacy information of the patient in synchronization with the attribute information between the parties.

Media Research in Global Brand Timelapse Advertisement (글로벌 브랜드 타임랩스 광고에 나타난 영상 연구)

  • Yu, Jung-Sun;Chung, Jean-Hun
    • Journal of Digital Convergence
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    • v.15 no.8
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    • pp.333-340
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    • 2017
  • Timelapse is an imaging technique that captures motion at regular intervals and then projects it at normal speed. We looked at Timelapse advertising images of global brands and presented a model for analyzing components and expression methods of Timelapse, a new image technique. In previous research, literature research, Internet data survey, and YouTube data were investigated. Continuous photography has been developed as an imaging technique, and we have examined the current production status applied to domestic and foreign documentary, domestic and foreign drama, film, and advertisement. In 2015-2016, I will analyze the techniques of iPhones (2016), Ralph Lauren Polo Ads (2015), and Canon EOS (2013) videos that use Timelapse techniques in their recent advertisements. The results show that the Timelapse component is a static element, the static motif is mainly an artificial structure, the place is outdoor, the color is taken at a time showing the characteristics of the place, and the layout is all centered. The dynamic motif is a moving object. The dynamic line consists of a story based on the object. The time is about 11-15 seconds, the longest is about 1 minute and 30 seconds, and the editing is mainly focused on the product with the brand logo emphasized. In conclusion, it is the role of the image to pay attention to the advertisement and catch the eye. In order to motivate the buyer's mind, it is necessary to direct and edit such as Timelapse, which stimulates the emotions inherent in the mind and stimulates the non-verbal symbols. Future research is likely to reveal various attempts at temporal editing of images.

Non-Agricultural Occupations of Korean Immigrants at the Russian Far East (러시아 극동지역 한인이주민의 직업에 대한 연구: 비농업직(非農業職)을 중심으로)

  • 이채문
    • Korea journal of population studies
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    • v.23 no.2
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    • pp.39-77
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    • 2000
  • The paper examines non-agricultural occupations of Korean immigrants in the Russian Far East from 1860s to 1930s. First of all, theoretical perspectives regarding immigrants\` job selection and positions in the labor market such as cultural theory, segmented labor market theory, human capital theory, and ethnic enclave theory were reviewed and then how these theories can be applied to various jobs of Korean immigrants including mining, fishing, small business, service, and miscellaneous jobs was studied. Next. this article points out that those theories cannot explain both supply and demand sides of migration simultaneously, suggesting the need to integrate two sides of migration. In order to fill out this gap in the literature, this paper suggests the integrative approach which combines supply side and demand side of migration. According to this model, several factors in the non-agricultural jabs which were affecting Korean immigration in the Russian Far East. were identified and discussed in relation with existing theoretical perspectives. Finally this paper concludes that, in order to understand Koran migration in the Russian Far East properly, we have to take into consideration simultaneously both supply-sided factors of immigration including farming-oriented characteristics of Koreans, Korean socio-economic problems preceding immigration, and self-dependent tendencies of Korean immigrants and demand-side factor like the Russian migration policy to the immigrants and various regional situations in the Russian Far East.

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A Study of Actual Condition on Operation and Management of Environmental Infrastructure in the Geum River System (금강수계 내 환경기초시설 운영실태에 관한 연구)

  • Lee, Jae-Woon;Park, Dong-Gi;Kwon, Young-Ho
    • Journal of environmental and Sanitary engineering
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    • v.24 no.1
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    • pp.1-12
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    • 2009
  • The various environmental problems that we face on today are basically about environmental quality. Since early 1960s affluent material was produced because of remarkable economic growth by many cooperations. However, for the lack of environmental policy, environmental pollutions has been serious. The central government should transfer the producing and consuming structure to environmental affinity through the regulations for developing Korea as a model of environmental nation which takes an active part in global environmental programme and in which the environment and economy are well harmonized. Moreover, the central government should take the lead in prevention of environmental pollution through the direct policies such as strengthening the discharge limit or setting up environmental basic institutions by securing budget for conserving environment. This thesis emphasize on the public institution among many environmental basic institutions for environmental anti-pollution project. It will find the problems with running those institutions, and will suggest the preview of improvement. Also, it is necessary to investigate of variation trend for inflow and pollutant loading to environmental infrastructure as increased of the diffusion rate as established and maintenance of sewer system. The purpose of this study is to investigate for inflow and pollutant loading to environmental infrastructure, and also to provide the method of efficiently maintenance and management. The results obtained were summarized as follows; 1. Survey of actual condition on operation and management of environmental infrastructure was evaluated the propriety of treatment process and problem of plant management. 2. Analysis of pollutant loading contribution for river system of environmental infrastructure with data analysis of water quality measuring network. 3. To investigate on case study for efficiently maintenance and management of environmental infrastructure. The result on this study was provide the method of efficiently maintenance and management with survey for establish and repair of sewer system and survey of actual condition on operation and management of environmental infrastructure in the water area of discharge to Geum River System. Application as guideline for establish and management of environmental infrastructure, and management of Geum River System. Also, application for preliminary data for fulfill-assess of total effluent regulation of water pollution.