• The Journal of Fisheries Business Administration
• /
• v.37 no.2 s.71
• /
• pp.85-109
• /
• 2006

This study is aimed to investigate the structure of world pollack markets and the position/competitiveness or Korea for WTO/NAMA Negotiation. First or all, it is clearly pointed out that many limitations and problems are inherent in FAO statistics that is widely utilized to investigate the structure of international seafood markets. Especially, it is impossible to find not only the data for Russia that is the top production and export country of pollack, but also the data for importing/exporting countries for pollack. In order to make up for these problems, the data for export and import of major countries are collected and analyzed. The results of analysis show the followings. First, it is clearly investigated that classification of fish products are different for countries. Second, it is understood the structure of international pollack market in actuality. The pollack market is segmented by frozen, fresh, dried, fillet, roe, surimi, etc. In addition, the pollack market has grown as much as 600,000 tons in amount and $1.2billion in value. Third, competitiveness of Korea in international pollack markets is measured quantitatively. It shows that Korea has low RAC index and TSI index, but high RMI index. Thus, it is identified that Korea becomes the largest pollack importing country. Fourth, the partial equilibrium analysis on pollack import market of Korea indicates that the frozen pollack has both price elasticity and substitution elasticity, while the fresh pollack has income elasticity.

• Health Policy and Management
• /
• v.14 no.4
• /
• pp.75-87
• /
• 2004

The purpose of this paper is to compare the amount of household health expenditures (HHE) and the proportion of health care expenditure to the household expenditure by ability to pay(ATP) levels. This study has focused on the influence of household ATP on HHE, estimating elasticity of health care expenditures for different ATP groups. For the empirical analysis, the Urban Households Survey Data of 2002 have been used. Our principal findings show that HHE are sensitive to changes in household ATP levels and that the group which is most responsive to changes in A TP level is the lower ATP group. These suggest that as households have less ATP, households with lower ATP reduce expenditures on health care in a proportional manner than those with higher ATP.

• Proceedings of the Korea Technology Innovation Society Conference
• /
• 2010.05a
• /
• pp.3-14
• /
• 2010

Through time-series plots, we can see relatively stable trend of energy factor share and the decreasing trend of relative energy prices (to wages) in Korea. We can compromise these empirical facts with the following explanation: if elasticity of substitution between capital and energy is smaller than one(<1) in Korea, a change(decrease) in energy price can prevent income share of resources from rising in the process of economic growth. This is consistent with theoretical and empirical results that substitution between energy and capital is so difficult. From simple empirical analysis and limited information, we can carefully infer that, in the past in Korea, resource-specific innovation was performed widely. Finally, If we are to reduce the magnitude of "growth drag", we should decrease energy factor share. This can be accomplished by energy-augmenting technical progress in the case of elasticity of substitution less than 1 as in Korea.

• KDI Journal of Economic Policy
• /
• v.12 no.4
• /
• pp.71-95
• /
• 1990

The purpose of this paper is to estimate the revenue function of the personal income tax of Korea. Unlike the traditional approach employing the data adjustment, this paper explicitly includes the explanatory variables of the tax rate or schedule in the revenue function and further estimates the functions by income sources such as labor, interest, global, and dividend incomes. One of the main findings is the GNP elasticity of the combined personal income tax is around 1.2 when evaluated on the basis of the estimates of the GNP elasticities of tax revenue from respective income sources, which is somewhat smaller than those in the previous studies. Another interesting result is that the GNP and interest rate elasticities of the interest income, are found around one and .15 respectively, as expected. Also, the estimate of the tax-free income coefficient is significantly negative in the labor income tax revenue function.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.16 no.11
• /
• pp.7820-7830
• /
• 2015

Korean households' demand for food consumed away from home is on the steady increase. The ratio of eating-out expenditure of the household income, however, tends to decrease recently irrespective of income groups. This paper, therefore, aims to analyse the food-away-from-home expenditures of salary and wage earners' households by income decile group. The eating-out expenditure is modelled as a function of household income and then estimated using econometric methods such as regression, rolling regression, impulse response, and variance decomposition of forecast error. The regression results indicate that the higher the income decile group is, the lower the income elasticity of eating-out expenditure is, and the high income groups enjoy seasonal eating-out, the low groups do not. The coefficients of dynamic rolling regression are much smaller than those of static one, meaning that households tend to decrease the eating-out expenditure of their income. The impulse response analysis suggests that the eating-out expenditure increase of higher income groups lasts long relative to that of lower income groups. The variance decomposition, also, shows that household income plays much more important role in determining eating-out expenditure at the higher income groups than at the lower income groups.

• Journal of Families and Better Life
• /
• v.18 no.2
• /
• pp.93-108
• /
• 2000

This study examines difference in expenditure patterns between working-wife families and nonworking-wife families. The data used in the study is 4,506 husband-wife families take National Survey of family Income and Expenditure in 1996. Of the sample, 42.3% are working-wife families. Consumption expenditure patterns are analyzed in two ways. One is the budget share of each given expenditure and the other is elasticity of those expenditure. The main results of this study are as follows: First, there are the differences between working-wife families and nonworking-wife families in the budget share of each given expenditure. In the budget shares of each given expenditure, nonworking-wife families share more than working wife families for food and medicine. And working-wife families allocated more on public transportation than their counterparts. Second, there are also differences between working-wife families and nonworking-wife families in income elasticities.

• Environmental and Resource Economics Review
• /
• v.11 no.4
• /
• pp.689-706
• /
• 2002

This paper makes some contributions on optimal environmental taxes in the generalized utilitarian social welfare function. It is not to suggest as to appropriate environmental tax rates but to contribute the direction of environmental tax policy. The tax rates depend on parameters of individual utility function (CES utility function) and social welfare function and income tax rate. The major findings are that, as the elasticity of substitution between labor and leisure and the concavity of social welfare function increase, both the optimal tax rates and the government demogrants rise. And, as the parameter of environmental pollution in the individual utility function increases, the optimal tax rates also increase. For the future study, this model involves the income tax and the capital tax as endogenous variables and the wage changes due to international trade.

• Journal of the Korean Society for Industrial and Applied Mathematics
• /
• v.16 no.2
• /
• pp.107-124
• /
• 2012

In this paper we conduct comparative statics for optimal consumption and portfolio selection of an agent who has a utility function of Epstein and Zin type. We derive the Slutsky equations and decompose the total effects of changes into the substitution effects and the income effects. We identify the role of the elasticity of intertemporal substitution and the coefficient of relative risk aversion.

• Journal of the Korean Home Economics Association
• /
• v.44 no.6 s.220
• /
• pp.163-174
• /
• 2006

The purpose of this research was to examine the level and trends in household clothing expenditure in Korea. Raw data sets produced by the National Statistical Office from the Family Income and Expenditure Survey from 1991 to 2004 were used to support time-series and cross-sectional analyses. The clothing expenditures decreased severely and quickly during the economic crisis of late 1997 through 1998, then increased slowly after the economic crisis until 2003, only to slightly decrease again in 2004. The ratio of clothing expenditure to total household expenditure decreased from 8.03% in 1991 to 5.11% in 2004. This decrease in relative clothing expenditure was greater in the lower income group than in the middle and high income groups. Clothing expenditure patterns were unique and differed from other household expenditures. Although the economic crisis in the late 1990s affected Korean consumers' clothing expenditure, clothing expenditure patterns showed a more fundamental and structural change from 1991 to 2004, with the overall decrease in such expenditure resulting from the concurrent increase in educational and information-communication related expenditures. Clothing expenditure was shown to be luxurious through cross-sectional analysis, but necessary through time-series analysis.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.8
• /
• pp.433-442
• /
• 2021

This research examines the financial performance of Village and Urban Community Funds (VFs). The study also explores the beneficial effects of the biggest microfinance programs in the world in the lower and lowest income provinces; specifically, whether VFs change household economic status or not. The data is collected uniquely from the village funds in four provinces of each region in Thailand which considerably reflect the government achievement. Accordingly, several financial ratios have been applied to evaluate the financial efficiency of the village funds, and the ordered logit model has been used to estimate the impact on economic variables of the poor. The findings show that the village funds do not improve the savings, income, consumption, and asset of VFs' members, although such funds have a higher financial performance. Furthermore, the VFs are a good substitute compared to the Bank for Agriculture and Agricultural Cooperatives (BAAC) credit because the cross-price elasticity of quantity of demand for such loans is positive. In particular, the loans from village funds are insignificantly correlated with the debt, income, asset, and economic status of VF members. This implies that Thai Village Funds do not alleviate definitely the serious problem about the financial situation in rural provinces. Thus, this microfinance does not change the economic well-being of the poor.