• 노동경제논집
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• 제31권2호
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• pp.35-72
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• 2008

본 논문은 기업패널 자료(1997~2004)를 사용하여 노동조합 유무에 따른 기업유형별로 고용량 변동에 대한 제품수요충격의 효과가 어떻게 다른지를 분석하였다. 분석 결과에 따르면, 근로자특성별로 정도의 차이는 있지만 대체로 제품수요 감퇴 및 확대의 상황에서 유노조기업의 경우 무노조기업에 비해 고용탄력성이 작용 것으로 나타나 '제품수요 위축 시기에는 상대적으로 소폭의 고용감축으로, 제품수요 확장 시기에는 상대적으로 소폭의 고용확대로 대응하는,' 즉 제품수요 충격에 따른 고용변동성이 낮은 고용조정 패턴을 보여준다. 이러한 결과는 노동조합이 고용감축 시기에는 구성원의 고용안정성을 보장하는 데 유의미한 역할을 하는 반면, 고용확대 시기에는 고용수준 결정에서 그 역할이 매우 제한적임을 시사한다.

• The Journal of Asian Finance, Economics and Business
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• 제2권2호
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• pp.5-12
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• 2015

The authors calculate the long-term predictability of GDP, domestic demand, investment, and net exports for Guangdong province, P.R. China from 2000 to 2013. A vector autoregressive (VAR) model with quarterly data for this period is first co-integrated then the Granger causality test is applied to empirically assess the relationships among gross domestic product (GDP), consumption, investment, and net exports. There is a strong causality effect between investment and net exports in Guangdong province. However, the variance decomposition results indicate that exports respond to foreign shocks rather than domestic ones, making their impact on the Guangdong economy to predict. Results show the stimulating effect of domestic demand on GDP is larger than the stimulating effect of net exports and much larger than even the stimulating effect of investment. The analysis suggests that there are dynamic influences with various levels of persistence between GDP, consumption, investment, and net exports. Macroeconomic policy adjustments are urgently required to expand domestic demand and thereby stimulate economic growth in Guangdong province.

• 농촌지도와개발
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• 제24권4호
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• pp.249-264
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• 2017

Modeling the consumer demand of fresh meat requires its distinct feature which other types of food product does not have. Most of the fresh meat products are likely to be unbranded, bought on a weight basis and affected by macro shocks such as seasonality, holiday effect and the disease incidence. Furthermore, consumers tend to purchase multiple categories of fresh meat in a week. Therefore, we apply a multiple discrete/continuous model on fresh meat consumption data to study the effect of macro shocks on fresh meat sales as well as of price change. As a result shows, Each fresh meat is relatively more likely to be bought in peak season of each fresh meat compared with imported pork which is set as a 'reference category' in this analysis. For clarity of the effect of disease incidence, we perform further analysis regarding the effect of livestock disease on fresh meat purchase probability. It shows that the avian flu in 2014 has strong negative impact on the purchase probability of chicken and the foot-and-mouth disease has negative impact on the purchase probability of pork and beef for part of outbreak periods.

• Journal of Korea Trade
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• 제25권4호
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• pp.146-163
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• 2021

Purpose - This paper examines China's impact on Korea's ICT exports considering the direct competition channel, the production shift channel, and the indirect demand channel at once. This paper also takes China's economic rebalancing into account and discusses whether it makes any differences in the effect of the three channels. Design/methodology - To quantify the effect of the three channels, I constructed a linear panel regression model and estimated it with various estimation methods including the system GMM. China's exports toward the same destination as Korea's exports, Korea's exports toward China, and the third countries' exports toward China respectively reflect the three channels. China's GVC indicators are included as well to evaluate the effect of further China's economic rebalancing. Since the present paper has a greater interest in the effect of China rather than the determinant of bilateral trade, a (fixed effect) panel model becomes more appropriate than the gravity model because timeinvariant variables in the gravity model, such as the distance and the language, are eliminated during the estimation process. Findings - The estimation results indicate that Chinese ICT exports are complementary to Korea's ICT exports in general. However, when markets are considered in subgroups, China's ICT exports could have a negative effect in the long run, especially for SITC75 and SITC76 markets, implying a possible competitive threat of China. The production shift effect turns significant during China's economic rebalancing in the markets for the advanced economies and the SITC76 product. China's indirect demand channel is also in effect significantly for the advanced economy and SITC75 commodities during China's economic rebalancing periods. In addition, this paper shows that China's transition toward upstream in the global value chain could have a positive impact on Korea's ICT exports, especially at the Asian market. Originality/value - The contribution of this paper is threefold. First, it focuses on the ICT industry for which Korea increasingly depends on China and China becomes a global hub of the GVC. Second, this paper quantitatively studies three channels in a model in contrast to the literature which mostly examines those channels separately and pays less attention to the GVC aspect. Third, by utilizing relatively recent data from the period of 2001-2017, this paper discusses whether China's economic rebalancing affects the three channels.