• Journal of the Chungcheong Mathematical Society
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• v.33 no.1
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• pp.103-112
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• 2020

This paper investigates the portfolio selection problem with flexible labor choice and stochastic income flow where the unit wage flow is governed by a stochastic process. The agent optimally chooses consumption, investment, and labor supply. We derive the closed-form solution by applying a martingale method even with the stochastic income flow.

• Journal of the Korean Regional Science Association
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• v.14 no.1
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• pp.109-126
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• 1998

We analysed the determinants of part-timer labor demand and supply in Kwangju. The findings of the paper are as follows; First, firms employ part-timer workers in the unskilled or skilled jobs not demanding much training cost. There are two reasons for firms to employ part-time workers: labor cost cut and flexible employment adjustment. Estimated wage differential is 40% not including fringe benefits differential. Second, we find lots of married women to want part-time jobs. The more probably married women choose part-time work, the younger and the less educated they are, and the less kids and the less other income they have.

• Journal of Industrial Convergence
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• v.5 no.2
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• pp.99-120
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• 2007

The purposes of this paper are to investigate mismatch in labor supply and demand on small and medium industries in Suwon region by conducting surveys to potential employees and employers, and to suggest alternative policy means to eliminate those mismatch conditions. Reasons of occupation change, difference in terms desired in occupation between potential employee and employer, understanding in mismatch, and measure of labor shortage by firms are analyzed in this paper. The report's recommendations to eliminate labor mismatch in small and medium industry are categorized into two groups: working conditions and occupation competence. Narrowing the working conditions gap, utilization of idle workers, establishment of flexible wage system are suggested to eliminate labor condition mismatch. In addition, potential employees need to meet working requirements by building up both wide use ability, occupation specific ability, and industry specific ability.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.2
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• pp.167-181
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• 2013

The cross-border flow of workers in EU having the freedom of labor mobility and residence plays a role in the border labor markets as a structural factor of regulation. The regulation role of the cross-border flow of workers on the Grand R$\acute{e}$gion, which is the border among the France-Belgium-Luxemburg-Germany, is as follows. First, the cross-border flow of workers regulates the regional surplus and lack of labor in quantity and quality. Second, the border labor markets are regulated by the regionally segmented supply and demand of labor and are modulated by the flexible employment like a part-time and temporary employment. Third, the residence of the cross-border workers concentrates on the adjacent regions to the border. And the atypical cross-border workers, who have their residence in the neighboring country but works in the existing country, are rising rapidly.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.581-605
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• 2018

In the soft drink industry, especially small and medium enterprises in Japan, there is a possibility of conversion from a labor-intensive industry to a capital-intensive. The demand for soft drinks may not be satisfied in the summer because the supply is too low to meet the demand. To address this situation, this paper proposes optimal investment that integrates demand uncertainty, based on real options approach (ROA) and seasonal autoregressive integrated moving average. Two alternative options are compared and evaluated. One is the Bermudan option: to employ additional workers to elevate efficiency in summer and laying off in winter, this attitude is repeated each year. The other is the American option: to replace equipment to increase machine ability throughout the year. Results in ROA show that the highest improvement is gained if the two options are in a symbiotic relationship. Soft drink producers should search for replacing equipment, using the employees repeatedly. A temporary decision is not equal to an infinite decision.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.4
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• pp.137-146
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• 2016

In recent years, business environment is faced with multi uncertainty that have not been suffered in the past. As supply chain is getting expanded and longer, the flow of information, material and production is also being complicated. It is well known that development service industry using application software has various uncertainty in random events such as supply and demand fluctuation of developer's capcity, project effective date after winning a contract, manpower cost (or revenue), subcontract cost (or purchase), and overrun due to developer's skill-level. This study intends to social contribution through attempts to optimize enterprise's goal by supply chain management platform to balance demand and supply and stochastic programming which is basically applied in order to solve uncertainty considering economical and operational risk at solution supplier. In Particular, this study emphasizes to determine allocation of internal and external manpower of developers using S&OP (Sales & Operations Planning) as monthly resource input has constraint on resource's capability that shared in industry or task. This study is to verify how Stochastic Programming such as Markowitz's MV (Mean Variance) model or 2-Stage Recourse Model is flexible and efficient than Deterministic Programming in software enterprise field by experiment with process and data from service industry which is manufacturing software and performing projects. In addition, this study is also to analysis how profit and labor input plan according to scope of uncertainty is changed based on Pareto Optimal, then lastly it is to enumerate limitation of the study extracted drawback which can be happened in real business environment and to contribute direction in future research considering another applicable methodology.

• Economic Analysis
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• v.25 no.2
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• pp.1-53
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• 2019

This paper examines monetary policy quantitatively in a two-agent and small-scale New-Keynesian economy with debt-constrained households that cannot smooth their consumption intertemporally and frictionlessly since highly indebted households are not allowed to borrow above a certain debt ceiling in incomplete financial markets without additional risk premiums due to information asymmetry between savers and borrowers. We find that, in the event of cost shocks, the asymmetric responses of borrowing households without, and saving households with, dividend incomes lead to different labor supplies and consumptions over heterogeneous households, and eventually to an extension of the monetary policy transmission channels. The income effect and low elasticity of the labor supply play key roles in such asymmetric responses over heterogeneous households. We also find that the social welfare in a flexible inflation targeting (FIT) monetary policy, in which both the inflation gap and the output gap are considered in an integrated manner when policy-making, is similar to that of the Ramsey optimal monetary policy (ROP), in which the shares of debt-constrained households, as well as all economic states, including both the inflation gap and output gap, are considered comprehensively for policy-making, and that it is greater than that of simple inflation targeting (SIT) monetary policy, in which only the inflation gap is considered mechanically for policy-making. Such social welfare implies that a FIT policy may still work even in an economy with a sizable number of debt-constrained households. Further, the responses of cost shocks to consumption and labor supply are dying out more slowly under FIT and ROP policies than under an SIT policy.

• The Journal of Fisheries Business Administration
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• v.28 no.1
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• pp.51-70
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• 1997

The fishing industry of Korea is now i a critical transitional stage. That is, broadly speaking, there are two dominant factors that constrain the further development of Korea fishey and effective competition in the international fishing industry. First of all, the global fishing industry has experienced many significant changes due to the execution of U.N, maritime law, the establishment of EEZ(the Exclusive Economic Zones), the increased roles of WTO(the World Trade Organization) as well as Korea being a member of OECD(the Organization for Economic Co-operation and Development). Second, the fishing industry of Korea is faced with the following domestic troubles, such as the icreasing fishing expenses, insufficient labor supply, and the collapse of traditional local co-operative organizations of fishing villages, etc. However, the demand for aquatic products of home consumers not only continues to increase but also is shifting to select more valuable species, completely ignoring the above-mentioned serious pressures incurred by the Korean fishery. To solve these problems and keep developing steadily, it is necessary for the fishing industry of Korea to adopt a more active and flexible development pattern in order to reset up the regional economic base in fishing villages nation-wide and make the exploitation of fishing resources balance. The paper gives an reconsideration to the primary alternatives facing the Korean fishery and its prospective roles in a realistic and far-sighted attitude. It may serve as an endeavour in seeking an outlet for the fishing industry of korea to advance forwardly and lastingly.

• Journal of Labour Economics
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• v.40 no.1
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• pp.1-36
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• 2017

This study aimed to analyze influencing factors to increase the wage differential between large enterprise and subcontracted small-medium enterprises by using panel data composed of 19 manufacturing industries for 16 years from 1999 to 2014. According to the results of analysis, in large enterprises the elasticity of substitution between the labor inputs and the subcontracted product supplies from small-medium enterprises was significantly less than 1. So, the increase in wages of workers of large enterprises, whose degree of employment protection was relatively high, seemed to increase the share of wage cost in total cost and was resulted to decrease the cost share of subcontracted product supplies significantly. This was interpreted to be able to exert a negative influence upon the price of subcontracted product supplies and the wages of workers in subcontracted small-medium enterprises, and, therefore, to increase the wage differentials between large enterprises and subcontracted small-medium enterprises. Furthermore, it was also found that the increases in the labor union participation rate at large enterprises and the openness rate of the industry concerned were contributing to make such effects much stronger significantly. In order to mitigate the wage differentials and the polarizing trend in labor market, we can suggest to establish a certain kind of flexible wage system and to introduce co-bargaining practices with the workers of subcontracted small-medium enterprises within large enterprises, and also for the workers of small-medium enterprises, to prepare new social systems to upgrade their human resources and job skills drastically.

• International Commerce and Information Review
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• v.14 no.2
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• pp.29-52
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• 2012

Since diplomatic relations with China in 1992, many Korean companies have entered into China and that expansion is currently continuing. But now, many of Korean enterprises tend to withdraw and return to the domestic, this is because that major factors are too much fast increasing in labor costs and the difficulty of local workforce management. In this study, it is researched that the type of human resource management of Korean firms entering into Heilongjiang Province, Harbin and the similarities and differences were investigated by comparing the form of personnel management of existing areas and Harbin area, and then this study was conducted the survey and interview of domestic companies operating in Harbin, to pursuit the efficient way to manage the workforce development and management strategies. The result of researches and workforce development strategies of entering firms are as follows; First, it is required to establish a human resource discovery system for entering companies in focusing on managerial work ability and on blue-collar which is separated by professional and technical experts and a simple blue-collar people. Second, it is required to entering companies that they have to grow up the promotion and exchange of the Department of Korean Studies in Harbin and have to build the industry and universities training programs to promote needed experts, and have to establish the expert pool systems to support the flexible labor supply.