• The Journal of the Korea institute of electronic communication sciences
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• v.5 no.2
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• pp.205-213
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• 2010

This study was to analyze the past regime's real estate policy and the time-series data on real estate price index from 1986 to 2009 in 24 years. Also, the real estate index and macroeconomic variables, the impact on house price index variable conducted to regression analysis and to analyze whether and how much is affected. Analyzed as follows: First, Korea's real estate policy was the post-policy and the past regime's real estate policy was inconsistent with each other. Second, in the normal phase whenever real estate issues, the measures of the strengthening regulation and of the economic recovery were only to repeat periodically. Third, the timing and means of policy enforcement was an inappropriate and Real estate market was getting worse at the time whenever a real estate policies performed. Fourth, The apartments prices index of the housing types rose the highest and were the most popular for 24 years. Increase or decrease the amount of the price index for apartments, Roh Tae-woo(65.0%) - Kim Dae-jung (42.5%) - Roh Moo-hyun (32.8%) were in order. Fifth, the results of the regression analysis carried out: The impact on housing prices among independent variables were followed by Cap Construction- one per capita income - Housing consumer price index - Accompanying Composite Index - Trailing Composite Index - Home subscription Subscriber account - Leading Composite Index.

• Journal of Distribution Science
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• v.14 no.11
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• pp.29-36
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• 2016

Purpose - Intense debate is occurring over support for farmers in Korea, specifically on the justification, policy design, and equality issues of the farm support programs. Given this debate, a new type of farm program in the US, a market flexible revenue program(the Average Crop Revenue Election, ACRE), is examined. ACRE stands in contrast to traditional programs that tie payments to price and have parameters that are fixed or change only infrequently. Research design, data, and methodology - Based on the ACRE program formulas, the potential payments are estimated by crop year, program crop and geographical area using the FSA acreage and payment rate data. Results - If all US farm program acres were in ACRE over the 2009-2013 crop years, payments would have totaled $7.95 billion or 1.2 percent of average market receipts for US crops. Enacting ACRE as a revenue program instead of a similarly-structured price-only program increased payments by $1.75 billion or 28 percent. Conclusions - Potential payments by ACRE largely reflected the distribution of the value of production across the program crops eligible for ACRE as well as across state geographical areas. If program parameters can be made acceptable and if data availability issues can be addressed, market flexible revenue programs offer a farm policy option that can address many of the concerns that have arisen over farm policy in Korea.

• Journal of the Korean Solar Energy Society
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• v.37 no.1
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• pp.59-69
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• 2017

In 2012, Korea introduced a Renewable Portfolio Standard (RPS) scheme, replacing the Feed-in Tariff (FIT) scheme as a market support policy of renewable energy in the electricity market. RPS is to allocate obligatory quota of renewable energy sources for electricity suppliers, whereas FIT is to guarantee high prices for electricity from renewable energy sources. This study examines the effect of this policy change on solar photovoltaic market. According to the study, solar PV market grew fast under FIT as well as under RPS. However, under RPS the size of subsidy for solar PV suppliers was shrunk substantially. In addition, market risk increased severly under RPS due to the volatility of price of renewable energy certificate (REC) as well as of the electricity market price. The small and medium suppliers of solar PV were suffered the most severly from these policy effects. Therefore, the policy reform of RPS is needed to alleviate the market risk of small and medium suppliers of solar PV.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.15-24
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• 2018

Purpose - The adjustment of one country's monetary policy can cause the macroeconomic change of other countries. Due to this, this paper attempts to analyze the impact of China's monetary policy on South Korea's exchange rate. Research design, data, and methodology - Based on the flexible-price monetary model, sets of annual time series from 1980 to 2017 are employed to perform an empirical estimation. The vector error correction model is also used to exploit the short-run relationship between both of them. Of course, the South Korea's real GDP, the China's real GDP, South Korea's interest rate, the South Korea's interest rate and the South Korea's monetary supply are treated as independent variables in this paper. Result - The long-run findings reveal that the China's money supply has a negative effect on South Korea's exchange rate. Respectively, the short-run findings depicts that the China's money supply has negative a effect on South Korea's exchange rate. Of course, other variables selected in this paper also have an effect on South Korea's exchange rate whatever positive or negative. Conclusions - As the empirical evidence shows, the China's monetary policy has a negative effect on South Korea's exchange rate whenever in the long run or in the short run.

• Land and Housing Review
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• v.14 no.3
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• pp.55-75
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• 2023

Based on prior studies on real estate policy, tax policy, and financial policy, this study examined how tax policy and financial policy affected real estate prices using monthly data from January 2014 to December 2021. We performed a VAR model using unit root tests, cointegration tests, as well as conducted impulse response analysis and variance decomposition analysis. The results are as follows. First, the tax regulation index and the financial regulation index had no discernible impact on housing prices. Specifically, a one-sided stabilizing regulatory policy was ineffective and, instead, led to unintended side effects, such as price increases resulting from reduced transaction volume. Secondly, mortgage rates had a negative impact on the housing sale price index. In other words, an increase in interest rates might led to a decrease in housing prices. Thirdly, an increase in the transfer difference, which involves capital gains tax, has a positive effect on housing prices. This led to rising housing prices because the transfer taxes were shifted to buyers, causing them to hesitate to make purchases due to the increased tax burden. Fourthly, both acquisition taxes and mortgage loans had relatively little impact on housing prices.

• KDI Journal of Economic Policy
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• v.14 no.4
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• pp.63-77
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• 1992

This paper examined interactions between stock price and key macroeconomic variables over the period of 1975-1992. It has been found that more than 60% of real stock price changes can be well explained by movements in key macroeconomic variables, particularly in net exports and industrial production. On the other hand, real stock price changes were found to have a significant explanatory power for plant and equipment investments for the sample period of 1975-1985 during which the stock market was stable. In contrast, no significant linkage between stock price changes and investments emerged over the subsample period of 1986-92 despite the sharp expansion of the stock market in terms of trade volume. Based on such findings, two major policy implications were derived; (i) the government's intervention in the stock market to stabilize stock prices would be ineffective unless the stable economic growth supports the market fundamental, and (ii) the stock price stability is a precondition for the stock market to play a key role in mobilizing resources to finance the firm's long-term capital.

• Health Policy and Management
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• v.9 no.2
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• pp.118-138
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• 1999

This study presents the variations on drug utilization for outpatients' URI, gastritis. and hypertension by the type of hospital- tertiary hospital. general hospital. hospital. clinic. It investigated drug expenses. daily drug expenses. days of medication. the highest price of the drugs used. and the number of the different drugs used for each disease and type of hospital. This study also performed analysis to see how much the variations of variables related to drug use affect the variations of drug expenses. The dependent variable was drug expenses and the independent variables were days of medication. the average price of the drugs used. and the number of the different drugs used. Analysis of the drug utilization was performed on NFMI(National Federation of Medical Insurance) 1994 medical expense claim data. Patients with secondary diseases were excluded. In this study. 379 patients with URI, 386 patients with gastritis. 1.257 patients with hypertension were included. It was founded that there were large variation on drug utilization between the types of hospital for same diseases. Days of medication were longest in tertiary hospitals and shortest in hospitals or clinics. Clinics showed the lowest daily drug expenses in all of the diseases investigated. Daily drug expenses were highest in general hospitals or hospitals. which also tended to use drugs of higher price than other types of hospital. General hospitals and hospitals had larger variations in daily drug expenses and the highest price of drugs. It suggested that drug might be utilized overly in general hospitals and hospitals and some other factors might influence on drug utilization in these hospitals. It was found that the variations of drug expenses were affected by the variations of drug price and days of medication rather than the number of the different drugs. Then the strategy to reduce the variations of drug utilization and to improve the quality of drug utilization should focus on the drug price and days of medication. Further study is needed to assess the quality as well as the variation of drug utilization and to show the factors which affect them.

• Journal of the Korean Data and Information Science Society
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• v.25 no.1
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• pp.65-76
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• 2014

Housing prices are influenced by external shock factors such as real estate policy or economy. Thus, the intervention effect is important for the development of forecasting model for housing price index. In this paper, we examined the degree of effective power of external shock factors for forecasting housing price index and analyzed time series models for efficient forecasting of housing price index. It is shown that intervention models are better than other models in forecasting results using real data based on the accuracy criteria.

• Korean Management Science Review
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• v.26 no.3
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• pp.67-78
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• 2009

In this paper, I analyze the mobile broadband services market characterized by vertical and horizontal differentiation. Vertical differentiation as service quality differentiation is based on the transmission speed of mobile internet service and horizontal differentiation as spatial differentiation is based on the service coverage. Theoretical explanations for the competitive price policy have been developed in the game context of WiBro which represent the high quality within the limited service coverage and HSDPA which represent relatively low quality with nation-wide service. When the WiBro has a mobile broadband service quality advantage and the difference in quality is sufficiently low, the price of WiBro with limited service coverage is relatively lower than that of HSDPA. This occurs because the advantage of WiBro's vertical service differentiation is offset by the disadvantage of horizontal differentiation. The difference in the quality of mobile internet service, however, is not too high, the price of WiBro is relatively higher than that of HSDPA. Moreover, when the service quality of WiBro is sufficiently high, the low quality HSDPA service faces no demand.

• Journal of the Korean Regional Science Association
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• v.12 no.2
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• pp.59-68
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• 1996

Common belief in border regions holds that Mexican cross-border shoppers play a larger role in the regional economic base than they do and that NAFTA will provide a bigger stimulus to the regional economy than it is likely. In the regional economy than it is likely. In the first case, price elasticities are implicitly underestimated as highly inelastic and in the latter case, overestimated as highly elastic. This paper provides empirical evidence on the effects of distance and real exchange rates as price proxies on both field survey and population-imputed estimates of cross-border shopping. After estimating both distance-based and real exchange rate-based estimates of price elasticities of Mexican shopper demand for U.S. border-region goods, implications are obtained concerning the relative importance for U.S. border-regon economies of more distant Mexican markets, and the likely impacts of NAFTA.