• 한국식생활문화학회지
• /
• 제19권6호
• /
• pp.630-639
• /
• 2004

Korean households' expenditures on foodservices are on the steady increase. This paper aims to examine the foodservice expenditures of salary and wage earners's households by income decile group. This is analysed through comparing foodservice expenditures with private education expenditures because households' expenditures are likely to be weighted in favor of eating-out rather than private education. We also model the consumption function in terms of income and price, examining the responsiveness of private education demand and eating-out demand to changes in income and price using econometric methods such as regression, rolling regression and impulse response. This paper show that foodservice demand increases more than the private education does in the long-run. The result indicates that households are likely to evaluate the desire for foodservice more important than private education contrary to our expectations in the long-run. The impulse response analysis, however, suggests that households tend to increase private education expenditures rather than eating-out expenditures in the short-run.

• 한국항해항만학회지
• /
• 제41권2호
• /
• pp.63-70
• /
• 2017

Despite the remarkable continual growth of the world cruise industry, studies have yet to be attempted on many revenue management problems in cruise operations. This paper suggests two schemes that can be easily applied to cruise revenue management: optimal dual pricing and passenger safety level. In optimal dual pricing, a pair of higher and lower prices is applied to cabin reservation through market segmentation. This scheme can be executed with a linear price-response function for the current unreserved cabins. A cruise line could benefit from this scheme to maximize reservation revenue while attaining full occupancy. The dual pricing scheme is also devised to produce only integer demands to suit real management practices. The life boat capacity is an additional service capacity unique to the cruise industry, catering to passengers' safety. The concept of passenger safety level is defined and computed for any passenger life boat capacity of a cruise ship. It can be used to evaluate the passenger safety of a cruise ship in operation, as well as to determine the number of life boat seats required for a new cruise ship. Hypothetical examples are used to illustrate the operation of these two schemes.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권10호
• /
• pp.543-553
• /
• 2020

This paper examines the effect of COVID-19 pandemic on the Philippine stock exchange, peso-dollar rate and retail price of diesel using robust least squares regression and vector autoregression (VAR). The robust least squares regression using MM-estimation method concluded that COVID-19 daily infection has negative and statistically significant effect on the Philippine stock exchange index, peso-dollar exchange rate and retail pump price of diesel. This is consistent with the results of correlation diagnostics. As for the VAR model, the lag values of the independent variable disclose significance in explaining the Philippine stock exchange index, peso-dollar exchange rate and retail pump price of diesel. Moreover, in the short run, the impulse response function confirmed relative effect of COVID-19 daily infections and the variance decomposition divulge that COVID-19 daily infections have accounted for only minor portion in explaining fluctuations of the Philippine stock exchange index, peso-dollar exchange and retail pump price of diesel. In the long term, the influence levels off. The Granger causality test suggests that COVID-19 daily infections cause changes in the Philippine stock exchange index and peso-dollar exchange rate in the short run. However, COVID-19 infection has no causal link with retail pump price of diesel.

• Journal of Information Processing Systems
• /
• 제20권1호
• /
• pp.76-84
• /
• 2024

This study constructed a VAR model with cotton futures and spot price data from April 30, 2009 to November 16, 2022, for empirical analysis utilizing the Granger causality test to analyze the dynamic relationship between cotton futures and spot market prices in China. The impulse response function and variance decomposition analysis showed that the cotton spot prices at flowering have a causal relationship with each other; in terms of mutual influence and impact, futures prices are higher than spot prices. Finally, it proposed countermeasures and suggestions from the perspective of establishing a standardized cotton spot market, improving the laws and regulations of the cotton futures market and trading system, and optimizing the structure of investment subjects.

• 한국산학기술학회논문지
• /
• 제22권1호
• /
• pp.131-137
• /
• 2021

본 연구는 경남농산물 소득자료를 이용하여 시설 파프리카와 시설 딸기, 그리고 노지 마늘과 노지 시금치를 대상으로 경남지역 채소류 재배면적 반응함수를 추정하였다. 작물별 재배면적 반응함수 추정결과에 따르면 시설 파프리카의 경우 농업조수입이 증가한 영향보다는 농업경영비 감소와 가격변동 위험의 감소에 따라 재배면적이 증가한 것으로 나타났다. 시설 딸기의 경우 농업조수입이 증가했음에도 불구하고 농업경영비가 증가 하였고, 가격변동 위험이 상대적으로 더 컸기 때문에 재배면적이 감소하였다. 노지 마늘과 시금치의 경우 농업조수입이 증가하였음에도 불구하고 가격변동위험이 크기 때문에 농가는 재배면적을 늘리지 않은 것으로 밝혀졌다. 추정결과의 정책적 함의는 다음과 같다. 농산물 가격변동 위험은 시설 작물보다 노지에서 재배되는 작물의 경우 상대적으로 더 크다. 따라서 경상남도에서는 노지 작물에 우선하여 농업수입보장보험을 도입해야 할 것이다. 반면에 시설 작물의 경우 농업경영비 부담이 매우 크다. 따라서 지방정부는 난방비를 포함한 농업경영비를 줄이기 위하여 노후 시설을 교체하고 스마트팜 시설 확충 등에 주력해야 할 것이다.

• 유통과학연구
• /
• 제16권4호
• /
• pp.67-74
• /
• 2018

Purpose - Most of the amendments to the law on the improvement of the distribution structure of mobile communication terminal equipment, the fully self-sufficient system of terminals, and the separated disclosure system on the terminals are aimed at securing transparency of the distribution structure by eliminating or reducing handset subsidies. This study investigates what items are important for the purchase of mobile phones in various and rapidly changing mobile phone markets from the consumer's point of view and tries to make a strategic suggestion for future mobile distribution strategies. Research design, data, and methodology - The procedure of this study takes place in four steps. In step 1, only the SF type respondents selected for this study were extracted through MBTI analysis. In step 2, they were divided into three hierarchies for the AHP analysis and each element was arranged. In step 3, the AHP analysis was converted to a Fuzzy-AHP number using the trigonometric centroid method. This was to eliminate the ambiguity of the response by converting into a fuzzy number even if data consistency was maintained with CI value below 0.1. In step 4, the number of converted 2-layer and 3-layer was combined to derive the priority when the final handset is selected. Results - First, the highest importance among the four items in the second tier was the terminal function item, followed by brand, price, and design item. Second, in the third tier, the highest importance was level of after-sales service, followed by device price, processing speed, ease of use, usefulness, and rate system. Third, the arithmetic average of the determinant of the fuzzy function showed that processing speed, ease of use and usefulness in the function item, level of after-sales service in the brand item, and device price in the price item were the five most important factors among 16 choice factors. Conclusions - First, there will be a change in the consumption patterns of consumers who have compared distributors and dealers to purchase handsets with more subsidies. Second, it is highly likely that people will purchase new handsets only when they need to change their devices because they can not receive subsidies by switching phone brands any more.

• The Journal of Asian Finance, Economics and Business
• /
• 제4권2호
• /
• pp.5-17
• /
• 2017

The main objective of the study is to measure the vulnerability of Indonesia's financial system stability in response to external shocks, including from regional economies namely three biggest Indonesia major trading partners (China, the U.S and Japan) and other external factors (oil price and the federal funds rate). Using Autoregressive Distributed Lag (ARDL) model and Orthogonalized Impulse Response Function (OIRF) with quarterly data over the period Q4 2002 - Q1 2016, results confirm that, 1) oil price response has the largest effect to Indonesia financial stability system and the effect period is the longest compared to others, represented by NPL and IHSG; 2) among those three economies, only China's economic growth has significantly positive effect to Indonesia financial stability system. Based on the findings it is better for the authorities to: 1) Diversify international trade commodities by decreasing share of oil, gas, and mining export and boosting other potential sectors such as manufacture, and fisheries; 2) Ensure the survival of Indonesia large coal exporter companies without neglecting burden of national budget; and 3) Create buffer for demand shock from specific countries by diversifying and increasing share of trading from other countries particularly from ASEAN member states.

• Journal of Electrical Engineering and Technology
• /
• 제13권1호
• /
• pp.68-77
• /
• 2018

Regarding demand response (DR) by residential users (R-users), the users try to reduce electricity costs by adjusting their power consumption in response to the time-varying price. However, their power consumption may be affected not only by the price, but also by user convenience for using appliances. This paper proposes a methodology for appliance scheduling (AS) that considers the user convenience based on historical data. The usage pattern for appliances is first modeled applying the copula function or clustering method to evaluate user convenience. As the modeling results, the comfort distribution or representative scenarios are obtained, and then used to formulate a discomfort index (DI) to assess the degree of the user convenience. An AS optimization problem is formulated in terms of cost and DI. In the case study, various AS tasks are performed depending on the weights for cost and DI. The results show that user convenience has significant impacts on AS. The proposed methodology can contribute to induce more DR participation from R-users by reflecting properly user convenience to AS problem.

• 자원ㆍ환경경제연구
• /
• 제24권4호
• /
• pp.727-745
• /
• 2015

본 논문에서는 국내 제조업을 대상으로 통합개념의 '비가격'의 신재생에너지 투입에 대한 기업의 최적화 행태를 분석하기 위하여 투입요소의 가격에 대한 정보없이 추정이 가능한 투입물거리함수를 추정한다. 신재생에너지의 연도별 암묵 (shadow) 가격을 도출하여 변화 패턴을 근거로 향후 신재생에너지의 잠재가격을 예측한다. 신재생에너지와 화석에너지 간 대체 가능성에 대한 측정 등 잠재 생산성에 영향을 줄 수 있는 제반 환경을 평가하고, 기술변화와 기술 효율성 변화의 Malmquist 생산성 지수를 계측하여 신재생에너지 투입의 생산성 지수에 대한 파급효과 여부 및 크기를 분석한다. 분석 결과, 1992-2012년 기간 동안 신재생에너지의 암묵가격은 매년 평균 17%씩 증가하는 것으로 나타났으며, 신재생에너지와 비재생에너지는 대체가능성이 상호 낮은 것으로 측정되었다. 신재생에너지 투입량을 1% 증가시키면 산업 생산성은 연평균 약 0.04% 감소하는 것으로 나타났다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권5호
• /
• pp.913-921
• /
• 2021

The objective of the study is to investigate the impact of the COVID-19 pandemic on Saudi Arabia stock market. The study relied on the data of the daily closing stock market price index Tadawul All Share Index (TASI), and the number of daily cases infected with COVID-19 during the period from March 15, 2020, to August 10, 2020. The study employs the Vector Auto-Regressive (VAR) model, the Impulse Response Function (IRF) and Autoregressive Conditional Heteroscedasticity (ARCH) models. The results of the correlation matrix and the Impulse Response Function (IRF) show that stock market returns responded negatively to the growth in COVID-19 infected cases during the pandemic. The results of ARCH model confirmed the negative impact of COVID-19 pandemic on KSA stock market returns. The results also showed that the negative market reaction was strong during the early days of the COVID-19 pandemic. The study concluded that stock market in KSA responded quickly to the COVID-19 pandemic; the response varies over time according to the stage of the pandemic. However, the Saudi government's response time and size of the stimulus package have played an important role in alleviating the impacts of the COVID-19 pandemic on Saudi Arabia Stock Market.