• Korean Journal of Rural Living Science
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• v.9 no.1
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• pp.43-54
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• 1998

This study attempted to investigate the factors affecting financial status of the rural middle-aged and old-aged household. The results shelved that the significant variables which influenced on the probability of financial security measured by consumption to income ratio were sex and education level of the household head, family size, total income, total expenditure and total assets. The most influential variables on the probability of financial security measured by liquidity ratio was liquid assets, and total assets. Education level of the household head. liquid assets, total assets, and total debt had significant effects on the probability of financial security estimated by debt burden ratio. Among the economic variables, only liquid asset had significant negative effects on the probability of financial security assessed by the capital stock ratio.

• The Korean Journal of Applied Statistics
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• v.28 no.4
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• pp.721-739
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• 2015

The importance of the old age income security will increase for an aging society due to the deepening income polarization. The National Pension(NP) is a representative Social Security scheme in charge of old age income security as well as income redistribution for the insured. Studies by Kim (2002), Kim et al. (2003), and Hong (2013) have reported the possibility of unsatisfactory income redistribution of the NP. Recently Choi (2015) attributed those results to an unnoticed defect in the benefit formula. This study is a test for the unsatisfactory income redistribution of the current National Pension using early participants who have now become pensioners. The method aggregates cohorts and combines individual history data before the year 2013 and the results of the actuarial projection model of the 2013 after the year 2014. The results are divided by measures taken. The redistribution is obviously progressive by the income replacement rate; however, it is significantly regressive when measured by the net benefit theoretically as more plausible. Considering the effect of differing lifetime contribution year among income classes, the regressive redistribution will prevail more in the future pensioners.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.305-312
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• 2022

Each country's economic progress creates opportunities for its citizens to raise their income. Meanwhile, the country has secured the people's social security policies, particularly the protection of income equality, to promote harmonious and sustained economic development. Vietnam has been located in a dynamic economic development area in Southeast Asia since the 1986 economic reforms, with an annual growth rate of around 7%. Meanwhile, having achieved a middle-income status of roughly 3500 USD per person per year, Vietnam is attempting to maintain income equality and access to welfare systems for its inhabitants. As a result, the primary goal of this study is to use an autoregressive distributed lagged model to investigate the effects of income inequality and other economic factors such as foreign direct investment and trade openness on Vietnam's economic growth from 1992 to 2019. The research focuses attention on literature on income inequality, economic development indicators, and economic development in unique ways in this study. Income inequality slows the rate of change in economic development in the same year, according to our findings. Finally, the study will make policy suggestions to the Vietnamese government.

• KDI Journal of Economic Policy
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• v.30 no.1
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• pp.71-130
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• 2008

Using data from the Korean Labor & Income Panel Study (KLIPS), this study investigates private income transfers in Korea, where adult children have undertaken the most responsibility of supporting their elderly parents without well-established social safety net for the elderly. According to the KLIPS data, three out of five households provided some type of support for their aged parents and two out of five households of the elderly received financial support from their adult children on a regular base. However, the private income transfers in Korea are not enough to alleviate the impact of the fall in the earned income of those who retired and are approaching an age of needing financial assistance from external source. The monthly income of those at least the age of 75, even with the earning of their spouses, is below the staggering amount of 450,000 won, which indicates that the elderly in Korea are at high risk of poverty. In order to analyze microeconomic factors affecting the private income transfers to the elderly parents, the following three samples extracted from the KLIPS data are used: a sample of respondents of age 50 or older with detailed information on their financial status; a five-year household panel sample in which their unobserved family-specific and time-invariant characteristics can be controlled by the fixed-effects model; and a sample of the younger split-off household in which characteristics of both the elderly household and their adult children household can be controlled simultaneously. The results of estimating private income transfer models using these samples can be summarized as follows. First, the dominant motive lies on the children-to-parent altruistic relationship. Additionally, another is based on exchange motive, which is paid to the elderly parents who take care of their grandchildren. Second, the amount of private income transfers has negative correlation with the income of the elderly parents, while being positively correlated with the income of the adult children. However, its income elasticity is not that high. Third, the amount of private income transfers shows a pattern of reaching the highest level when the elderly parents are in the age of 75 years old, following a decreasing pattern thereafter. Fourth, public assistance, such as the National Basic Livelihood Security benefit, appears to crowd out private transfers. Private transfers have fared better than public transfers in alleviating elderly poverty, but the role of public transfers has been increasing rapidly since the welfare expansion after the financial crisis in the late 1990s, so that one of four elderly people depends on public transfers as their main income source in 2003. As of the same year, however, there existed and occupied 12% of the elderly households those who seemed eligible for the National Basic Livelihood benefit but did not receive any public assistance. To remove elderly poverty, government may need to improve welfare delivery system as well as to increase welfare budget for the poor. In the face of persistent elderly poverty and increasing demand for public support for the elderly, which will lead to increasing government debt, welfare policy needs targeting toward the neediest rather than expanding universal benefits that have less effect of income redistribution and heavier cost. Identifying every disadvantaged elderly in dire need for economic support and providing them with the basic livelihood security would be the most important and imminent responsibility that we all should assume to prepare for the growing aged population, and this also should accompany measures to utilize the elderly workforce with enough capability and strong will to work.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.647-655
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• 2020

This study introduced income mobility analysis using pseudo-longitudinal panel data from Family Income and Expenditure Survey (FIES) to consider the dynamic process of individual's well-being through time. Since there is no comprehensive measurement of income mobility because of its dynamic process, various income mobility indices such as Chi-square, Average Jump Index, Atkinson et al. Mobility Ratio, and Shorrocks' Mobility Index were used. These indices revealed that Filipino households' income movements are more mobile than expected, and their income status improved from 2000 to 2015. As income mobility takes place, income inequality is reduced by 91.80 percent (91.80%). Furthermore, the growth effect is the main factor of income mobility. This indicates that households took the economic opportunities from economic growth to earn more. However, income mobility due to transfer effect (transfer of income from one household to another through lottery winning and borrowing) increased when the economy is not good. The higher income mobility due to growth effect compared to transfer effect, whether the economy is good or bad, means that households learned how to use their income in savings, investments, and entrepreneurship. This is the result of a successful financial literacy program of the government wherein households realized financial stability and security.

• 한국사회정책
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• v.24 no.1
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• pp.213-237
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• 2017

It is essential in social policy evaluation to examine how effectively they protect people from social risks. The aim of this study is to evaluate the effectiveness of five income security programs of Korea in coping with poverty, using KoWEPs data. We analyse the coverage and adequacy of these programs, joint as well as individual, for each sub-groups. As a result, it was found that 35% of the poor get none of the benefits. The coverage and adequacy for the aged is rather high. However, for the working age people, the unemployed in particular, are very poorly covered and average benefits levels are very low. These findings imply that there are much room and demand for improvement of Korean income security program, especially for working age population.

• Korean Security Journal
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• no.50
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• pp.119-141
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• 2017

The purpose of this study is to analyze the longitudinal causal relationship between organizational commitment and job satisfaction, focusing on security related workers. For this purpose, the Korean Labor and Income panel data were classified into security employees. Data were analyzed using SPSS 18.0 and AMOS 20.0, and validity and reliability analysis were conducted before hypothesis testing. The results of the analysis show that organizational commitment at time t-1 has a positive effect on organizational commitment at time t, and that job satisfaction at time t-1 has a positive effect on job satisfaction at time t Respectively. The results of this study are as follows: 1) The organizational commitment has a significant effect on the job satisfaction. 2) The effect of job satisfaction on organizational commitment was also significant 3) The cross-lagged coefficients show that organizational commitment precedes job satisfaction and serves as a predictor

• The Journal of the Korea Contents Association
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• v.19 no.4
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• pp.598-608
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• 2019

This study is empirically intended to look into the effects of safety income system on recipient's economic independence and life satisfaction under the social security system. To achieve this, a survey was carried out to 650 adult householders benefiting from the social security system. The SPSS 23 statistical program was used to apply measurement variables related to the safety income system. The results of this study are summarized as follows. The social insurance and the social assistance of safety income system were adopted, having a significant effect on the economic independence. The effect of economic independence on life satisfaction was rejected, while the effect of social assistance on life satisfaction was adopted, showing a difference in the effect of each factor. The findings imply that social insurance and social assistance with support for safe income can be a positive help for economic independence, and unemployment benefit, national pension, long-term care subsidy and health insurance can help to achieve real economic independence, adopting only social assistance with limitation to life satisfaction. Consequently, the safety income system is very useful in helping recipients to achieve their economic independence through its introduction, but there is some distance to meet their life satisfaction.

• The Journal of the Convergence on Culture Technology
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• v.8 no.3
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• pp.221-227
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• 2022

This study purports to deal with so-called basic income policy that Korea society has paid a great amount of attention to in welfare policy area. As an introduction, the definitions of basic income policy, and her natures and characteristics, and ideological foundation will be covered. Then, this study will discuss current debating issues upon basic income policy around the world such as basic income policy vs pre-existing social security systems, basic income policy and labor supply, the potential effect of basic income policy upon income redistribution, and feasibility of basic income as an actual policy. In conclusion, this study will investigate major criticisms on basic income policy and suggest viable paths that interested researcher should take for further study on basic income.

• Korea Journal of Hospital Management
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• v.13 no.1
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• pp.24-41
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• 2008

This research is aimed at analyzing and understanding the perception and attitudes of inpatients in a general hospital in Seoul towards the activation of private health insurance. Survey was conducted against 231 inpatients, results of which were analyzed in the methods of frequency analysis, chi square test, and logistic regression. The results are summarized as follows; First, better-educated population who finished college education at least, higher-income population, and people who had more knowledge about private health insurance showed more perception about activation of private health insurance. Second, better-educated population who finished college education at least, higher-income population, those who are insured in existing private insurance, oncological patients, and people who had more knowledge about private health insurance showed more positive attitude towards private health insurance paying for actual damages, long-term care insurance, and income security insurance. Third, age and education were the factors affecting perception about activation of private health insurance. The older the age is, perception was 1.035 times positive towards activation of private health insurance, and those who finished college education or above showed 3.148 times positive perception towards the same. Forth, surgical patients showed 1.087 times more positive attitude towards private health insurance paying for actual damages than internal medicine patients, while oncological patients showed 2.314 times more positive attitude than internal medicine patients. Further, understanding on the activation of private health insurance was 6.014 times higher in the higher understanding group than in the lower understanding group. Intention to use long-term care insurance was 2.692 times stronger in the male group than in the female group, and 3.616 times stronger in the oncological patients group than in internal medicine patients group. Further, understanding on the activation of private health insurance was 3.881 times deeper in the higher understanding group than in the lower understanding group. Intention to use income security insurance was 3.185 times stronger in those who have academic background of under the high school than those over the college, and 4.175 times higher in the group those whose monthly average income is over 4 million won than those under 4 million won. Also, intention to use income security insurance was 4.323 times higher in the group those who are insured by existing private insurances than those who are not insured by those insurances and it was 5.234 times higher in the group of oncological patients than in the group of internal medicine patients. Further, intention to use income security insurance was 3.559 times higher in the group those who thought that out-of-pocket money of the National Health Insurance is too much to bear than those it is quite endurable. Understanding on the activation of private health insurance was 4.875 times deeper in the higher understanding group than in the lower understanding group. There were some suggestions could be made based on the results of this research. First, reinforced publicity and education is needed for the low-educated or low-income group, as there are gaps in the understanding on the activation of private health insurance depending on the degree of education and income. Second, government should prepare administrative complementary measures to solve the problem of adverse selection by the consumer which is foreseen when private health insurances are activated. Third, government should suggest the desirable course of development of private health insurance items to ensure efficient use of enormous fund of private insurance market for health security of the people. Further, institutional complementary measures are needed to convert existing cancer insurances or specific disease insurances to private health insurances paying for actual damages guaranteeing against every kind of disease. Forth, it judged that, not only private health insurances paying for actual damages, but also long-term care insurances and income security insurances are prospective as fields to create fresh demand for insurance industry.