• 한국사회정책
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• v.19 no.2
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• pp.69-97
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• 2012

This study has sought to analyze factors affecting work and work preference of older adults at national and individual level. A few theoretical hypotheses such as economic need versus job opportunity (or employability), attitude toward paid work, pull effect versus push effect were tested for citizens in eighteen OECD countries with International Social Survey dataset(2005) using multi-level analysis. Main findings are as follows. First, most older adults wanted to work regardless of the socio-economic status, which implies that non-work of older adults would be due to involuntary constraint rather than voluntary choice. Second, there existed class inequality in that the higher class tended to involve paid work more than the lower class did among 55-64 age group. Third, the push factor such as part-time employment ratio, rather than the generosity of social security, explained the work and retirement patterns better. In conclusion, at least from the comparative perspective, the main problem of older adults' work seems to be of labour demand rather than of labour supply, to be of labour market structure and work opportunity rather than of the pull factor.

• 한국사회정책
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• v.20 no.2
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• pp.69-96
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• 2013

This paper is to critically review the economic reasoning of non-sustainability of welfare state due to its intrinsic incentive problems and to see how the nordic welfare state responds to them. The welfare state as a political design of state to pursue equality has social insurance as its main economic function. It survives market failure of private insurance to contribute to human capital investment and industrial restructuring. The universal tax-financed welfare state, however, has the problem of tragedy of commons such as reduced work incentive and work ethics. But, the existing nordic welfare state overcomes it through employment-focused policy arrangements, maintenance of work ethics and benefits moral, incentive mechanism of wage-compression, public educational investment and its complementation with social security. The Nordic model shows that problems of incentive and moral are not about those of theory and reasoning, but about their reality which policies and institutions could respond to.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.6
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• pp.937-945
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• 2017

Economy of Communion (EoC) is an emerging economic principle that recognizes the dilemma of traditional perspectives and turns to human centered values and ideas. Furthermore the EoC encompasses all the principles derives from free market economy, ethical norm and social solidarity. This study aims to understand Economy of Communion concepts and its ripple effects under current Korean economy condition which mainly follows Neo-liberalism. Korean economy needs new paradigm to deal with intensifying economical inequality in Korea these days. By understanding EoC's primary value and studying research cases and Sungsimdang, Seokwangsa one of EoC enterprise cases in Korea, this study suggests new economic paradigm. In response to the needs, two important practices should be manifested through fraternity: 1) mutural equity, and 2) dissemination of giving culture. These are construct the economy of communion, which is defined as unique humanism. This study is also expected to suggest new paradigm that establishes new economy system that can cover current economy system's problems.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.51-61
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• 2023

Purpose - Since COVID-19, the government's expansion of liquidity to stimulate the economy has resulted in an increase in private debt and an increase in asset prices of such as real estate and stocks. The recent sharp rise of the US Federal fund rate and tapering by the Fed have led to a fast rise in domestic interest rates, putting a heavy burden on the Korean economy, where the level of household debt is very high. Excessive household debt might have negative effects on the economy, such as shrinking consumption, economic recession, and deepening economic inequality. Therefore, now more than ever, it is necessary to identify the causes of the increase in household debt. Design/methodology/approach - Main methodology is regression analysis. Dependent variable is household loans from depository institutions. Independent variables are consumer price index, unemployment rate, household loan interest rate, housing sales price index, and composite stock price index. The sample periods are from 2017 to May 2022, comprising 72 months of data. The comparative analysis period before and after COVID-19 is from January 2017 to December 2019 for the pre-COVID-19 period, and from Jan 2020 to December 2022 for the post-COVID-19 period. Findings - Looking at the results of the regression analysis for the entire period, it was found that increases in the consumer price index, unemployment rate, and household loan interest rates decrease household loans, while increases in the housing sales price index increase household loans. Research implications or Originality - Household loans of depository institutions are mainly made up of high-credit and high-income borrowers with good repayment ability, so the risk of the financial system is low. As household loans are closely linked to the real estate market, the risk of household loan defaults may increase if real estate prices fall sharply.

• Journal of Service Research and Studies
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• v.11 no.1
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• pp.1-20
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• 2021

This study was conducted to derive a model of a sustainable economic system for humanity in the era of service economy that requires a paradigm shift. A new long-term sustainable development model has been built on the basis of thousands of years of economic operation experience. Currently, the world is operating the capitalism as the main economic system because there is no better alternative, and the changing economic and social environment such as the advent of the 4th Industrial Revolution is exacerbating the problems of the capitalism, such as job shortages and inequality. In this study, we analyzed the economic management system experienced by human society, and derived an economic system model that is ideal for the modern and future society and is sustainable in the long term. The conditions for a long-term sustainable economic system were presented first. It must be a model that can solve the problems of the current economic system. It must be a model that is faithful to the characteristics of the modern economic society and the nature of the economy itself. And since the new economic system is for humanity, it must be based on the common principles of human society. It should be a model that continuously guarantees core values such as equality and freedom required by human society. After analyzing the problems of the current economic system and analyzing the conditions required for the new system, the basic axioms that the new economic system should be based on were presented, and a desirable model was derived based on this. The structure of the derived model and the specific operation model were presented. In the future, research is needed to specify the operational model so that this model can be settled well in different environments for each country.

• Journal of the Korean Society of Safety
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• v.30 no.3
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• pp.32-37
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• 2015

In the fields of plant layout optimization, the main goal is to minimize the construction cost including pipelines as satisfying all constraints such as safety and operating issues. However, what is the lacking of considerations in previous researches is to consider proper safety and maintenance spaces for a complex plant. Based on the mathematical programming, MILP(Mixed Integer Linear Programming) problems including various constraints can be formulated to find the optimal solution which is to achieve the best economic benefits. The objective function of this problem is the sum of piping cost, pumping cost and area cost. In general, many conventional optimization solvers are used to find a MILP problem. However, it is really hard to solve this problem due to complex inequality and equality constraints, since it is impossible to use the derivatives of objective functions and constraints. To resolve this problem, the PSO (Particle Swarm Optimization), which is one of the representative sampling approaches and does not need to use derivatives of equations, is employed to find the optimal solution considering various complex constraints in this study. The EO (Ethylene Oxide) plant is tested to verify the efficacy of the proposed method.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.62 no.5
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• pp.591-595
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• 2013

This paper presents a method of generation rescheduling using Newton's Approach which searches the solution of the Lagrangian function. The generation fuel cost and $CO_2$ emission cost functions are used as objective function to reallocate power generation while satisfying several equality and inequality constraints. The Pareto optimum in the fuel cost and emission objectives has a number of non-dominated solutions. The economic effects are analyzed under several different conditions, and $CO_2$ emission reductions offered by the use of storage are considered. The proposed approach can explore more efficient and noninferior solutions of a Multiobjective optimization problem. The method proposed is applied to a 4-machine 6-buses system to demonstrate its effectiveness.

• KDI Journal of Economic Policy
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• v.26 no.2
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• pp.105-141
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• 2004

The success of fiscal decentralization depends on an effective intergovernmental transfer system. This paper focuses on the Local Share Tax(LST), the primary intergovernmental fiscal transfer in Korea. The LST, by law, aims to mitigate horizontal fiscal imbalance among the local governments. As an attempt to test the fiscal equity of the LST empirically, net fiscal benefits of each county are calculated based on a simple model. While the LST contributes to horizontal fiscal measured traditional inequality indices, a geographical pattern of net fiscal benefits is observed. From these findings, the role of LST on fiscal equity needs to be carefully re-examined.

• Journal of Labour Economics
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• v.36 no.1
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• pp.45-62
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• 2013

In this study, we revisit an empirical literature has found that neighborhood income inequality lowers people's likelihood of contributing public goods in terms of volunteering. We contribute to the literature by explicitly addressing the issues of larger and improper neighborhood choice with a census-type data and endogenous neighborhood location with some unique features of 2009 Social Survey Data by Statistics Korea. The results have confirmed that income heterogeneity lowers people's volunteering.

• Journal of Digital Convergence
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• v.14 no.6
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• pp.43-49
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• 2016

This paper explains concepts and methods of indexes measuring gender gaps. There are mainly 4 indexs, GDI, GEM, GII and GGI. UNDP developed GDI, GEM and GII. WEF developed GGI. Each index has its own strengths and weak points. Therefore it is important to understand each index in detail. For Korea, as men and women have been developed equally in areas of education and health, the GDI score was in a high group. However, the GEM and GGI scores were low. This implies that in order to reduce gender gaps, it is necessary to expand gender equality policies empowering economic and political empowerment.