• Economic Analysis
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• v.25 no.2
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• pp.132-176
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• 2019

We use a time-varying parameter vector auto regression (TVP-VAR) model to understand the impact of U.S. monetary policy normalization on Korean financial markets and capital accounts. The U.S. monetary policy is represented by the federal funds rate, term premium and credit spread. During the U.S. monetary contraction period of 2004 to 2006, changes in the federal funds rate presented negative pressure on Korean financial markets. The changes in federal funds rate also led to a simultaneous contraction in inward and outward capital flows. However, the effects of a federal funds rate shock has been reduced since 2015. On the other hand, the effects of U.S. term premiums is getting stronger after the period of quantitative easing (QE). The influence of the U.S. credit spread also significantly increased after the global financial crisis. Simulation results show that a rise in the U.S. credit spread, which can be triggered by a contractionary monetary policy, can pose a larger adverse impact on the Korean economy than a rise in the federal funds rate itself. As for capital flows, a U.S. monetary policy contraction causes an outflow of foreign investment, but the repatriation of overseas investment by Korean residents can offset this outflow.

• KDI Journal of Economic Policy
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• v.36 no.3
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• pp.1-23
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• 2014

This paper has studied the monetary policy in Korea with a time varying VAR model using four key macroeconomic variables. First, inclusion of the exchange rate was a crucial factor in evaluating Korean monetary policy since the monetary policy demonstrated sensitivity to exchange rate movements during the crisis periods of both the Asian financial crisis of 1997 and the global financial crisis of 2008. Second, a specification of the stochastic volatilities in TVP-VAR model is important in explaining excessive movements of all variables in the sample. The overall moderation of variables in 2000s was more or less due to a reduction of the stochastic volatilities but also somewhat due to the macroeconomic fundamental structures captured by impulse response functons. Third, the degree of the monetary policy effectiveness of inflation was mitigated in recent periods but with increased persistence. Lastly, the monetary policy stance towards inflation stabilization has advanced ever since the inflation targeting scheme was adopted. However, there still seems to be a room for improvement in this aspect since the degree of the monetary policy stance towards inflation stabilization was relatively weaker than to output stabilization.

• Journal of Forest and Environmental Science
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• v.32 no.1
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• pp.55-67
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• 2016

This paper investigated policies that drive the sustainable management of Ivorian forest which disappear at an annual rate of 250000 hectares. Based on an inter-temporal model for optimum allocation of forest land to three competing uses, the article found that sustainability depends on the incentive structure, of which forest taxes and fees are a key, though obviously not the sole, component. The study proposed to increase the area fee level by accounting for environmental externalities generated by forest harvesters and farmers. The paper showed that the area fee is a decreasing function of the forest natural rate of regeneration and the reconversion rate of agricultural surfaces. Finally, at the given forest natural rate of regeneration and the reconversion rate of agricultural surfaces, the model argued that the area fee need to be progressive (arithmetic progression) in the context of ecological equilibrium break while it should remain constant in normal situation.

• Korean Journal of Social Welfare
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• v.48
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• pp.113-149
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• 2002

The primary purpose of this study is to analyze the decreasing effect of public and private income transfers on poverty rate. Two year data of Korean Labor and Income Panel Study (KLIPS, 1998, 1999) are used for the analysis, and 1/2 of median income and 1/3 of mean income are adopted to measure poverty rate. Although private income transfer contributes more to reduce the rate than the public transfer, the main effect for decreasing poverty rate is forced by the wage. Statistically significant variables that affect to the exit of poverty based on the logistic regression analysis are number of family members(-), wage(+), property income(+), social insurance benefit(+), and the transfer income(+). Therefore, the future policy should be more related with the active labor market policy for developing better human resources among the poor family.

• Korea journal of population studies
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• v.11 no.1
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• pp.32-49
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• 1988

The social conditions in Koreas until 1950s were similar to the model phenomena of low level eqilibrium trap which was named by Prof. Nelson, with the continuation of high population growth rate and low economic growth rate. To escape from the trap, Korean government adopted two different policies, one is economic development plans and the other is family planning programs. Theses policies were successful in both increasing the national products and decreasing the population growth rate. In 1985 per capita GNP increased to over two thousand dollars, fertility rate reduced to replacement level(2.1) and unemployment rate was stabilized at 4 percent level. From various prospects, we were successfully escaped from the Malthusian trap and many economists, who studied developed countries, belive that population growth has positive effects on technological progress, economies of scale, specialization, individual attitude on work, and economic growth. Therefore we need to reexamine the anti-natalistic population policy of Korea in this situation.

• Health Policy and Management
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• v.24 no.2
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• pp.143-152
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• 2014

Background: Previous studies showed that the characteristics of population and regions were related to the suicide rates. This study purposed to analyze the relationships between regional factors and suicide rates with spatial analysis model. Methods: This is a cross sectional study based on the statistics of 2011 which was extracted from the 229 City Gun Gu administrative districts in Korea. Cause of death statistics on each district was used to produce the age-, sex-adjusted mortality rates resulting from suicide. Regional characteristics were measured by the number of doctors engaged in medical institutions per 1,000 population, divorced people's rate per 1,000 population, number of marriages per 1,000 population, and percent of welfare budget in general accounting. Statistical analysis was performed by using SAS ver. 9.3 and ArcGIS ver. 10.2 was used for geographically weighted regression (GWR). Results: In ordinary least square (OLS) regression, divorced people's rate per 1,000 population had a significant positive relationship with the standardized mortality rate per 100,000 population. Marriages per 1,000 population and the proportion of welfare budget in the general accounting had significant negative relationships with the mortality rates. Meanwhile, GWR provided that the directions of variable, divorced people's rate per 1,000 population, were varied depending on regions. The adjusted $R^2$ was improved from the 0.32 in OLS to the 0.46 in GWR. Conclusion: Results of GWR showed that regional factors had different effects on the suicide rates depending on locations. It suggested that policy interventions for reducing the suicide rate should consider the regional characteristics in obtaining policy objectives.

• Health Policy and Management
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• v.21 no.2
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• pp.195-212
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• 2011

Objectives: This study investigates the relationship between nurse staffing levels and differences in patient outcomes in terms of average length of stay, in-hospital mortality rate and 30-day death rate in order to evaluate the effectiveness of a policy that differentiates fees for inpatients on the basis of nurse-to-bed ratios. Methods: We obtained information on inpatients from health insurance claims data published by the Health Insurance Review and Assessment Service(HIRA) in 2008, organizational factors(type of hospital, ownership) from the records of the hospital report system in 2008, and nurse staffing levels, which were graded on a scale of 1 to 7, from data compiled between December 15, 2007, and September 20, 2008. The data were segregated according to type of hospital and quarter and finally 3,517 records of 1,182 hospitals were analyzed using multi-level analysis. Results: The average length of stay in grade 1~6 hospitals was lower than that in grade 7 ones, but the difference was much below one day. No significant difference was found among different grades in tertiary hospitals. Further, variations in staffing levels did not result in any significant difference in the in-hospital mortality rate and 30-day death rate. Conclusions: High nurse staffing levels did not result in better patient outcomes compared with low staffing levels. We therefore recommend modifying the above nurse staffing policy so as to make it more effective in improving patient outcomes.

• Journal of Digital Convergence
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• v.20 no.5
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• pp.99-105
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• 2022

In China, with the rise of third-party payments such as WeChat Pay and Alipay, the traditional business of banks has been greatly affected. Banks can encourage and expand QR code payments to merchants. Therefore, it is meaningful to analyze and study the QR code work of banks. The purpose of this study is to analyze the effect of the execution of the zero-rate of the comprehensive payment QR code combined with the payment cycle and Funds Transfer Pricing (FTP) on commercial banks in China. Based on the manually collected customer data of Chinese commercial banks, this paper conducts a case analysis combined with the calculation method of financial indicators. As a result of the study, it was found that commercial banks need to continue to implement the policy as the advantages of introducing the integrated QR code fee rate 0 policy are greater than the disadvantages. This paper provides feasible suggestions on how to quickly occupy the offline payment market for commercial banks, which has guiding significance for commercial banks' marketing decisions. Presently, there are few studies on the zero-rate subsidy policy implemented by Chinese commercial banks.

• Journal of Families and Better Life
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• v.24 no.6 s.84
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• pp.177-193
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• 2006

This study analyzes marriage and fertility rates in Korea and makes recommendations for family policy. Based on the 'The Report of Marriage & Divorce Statistics in 2005' and data from the Korea Statistical Information System (KOSIS) of the National Statistics Organization, the trends, reasons for marriage rates changes, and future expectations were critically reviewed. In addition, the relationship between marriage and fertility rates was analyzed. The principle characteristics of marriage rates are as follows: 1) the M-shape of the longitudinal crude marriage rates; 2) the increased age of individuals entering their the first marriage; 3) the increase in remarriage rates; 4) the changes in the patterns of remarriage; 5) the increased in the age at which individuals remarry and; 6) the increase in marriage to non-Koreans. The marriage and fertility rates changes are a permanent normative shift because of 1) later marriage because of women's increased education and labor force participation 2) rational choices about birth control 3) reduced population because of the aging of baby boomers 4) structural changes in the marriage market and 5) egalitarian changes in women's attitudes toward marriage and family. The recommendations for future family policy were as follows: 1) the need for a realistic, long-term family policy because the current marriage patterns will continue; 2) the need to develop new statistics such as fertility rates that are based on marriage cohort or birth cohort because family behavior is a mixture of personal, social and political responses; 3) the need for impact analysis of current family policy about increasing fertility rates; 4) the need for a new family perspective that encompasses diverse marriage and family patterns; 5) the need to focus on men's role in families because of women's changing roles and family interaction patterns and; 6) the need for preventive family policies such as family life education.

• Dementia and Neurocognitive Disorders
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• v.22 no.2
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• pp.49-60
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• 2023

Background and Purpose: The National Responsibility Policy for Dementia Care was implemented in September 2017 in Korea. This study aimed to compare dementia incidence in Seoul and Gangwon-do before and after the implementation of this policy. Methods: We extracted insurance claim data from the Korean Health Insurance Review and Assessment Service for people diagnosed with diabetes, hypertension, or dyslipidemia for the first time in Seoul and Gangwon-do, Korea. We defined two enrollment groups based on the policy implementation date: 1) January 1, 2015 to December 31, 2016 (Index 1, pre-implementation), and 2) January 1, 2017 to December 31, 2018 (Index 2, post-implementation). Each group was followed up for 1 year from the time of enrollment. Then, we calculated hazard ratios to compare the incidence of dementia between the two groups, and between Seoul and Gangwon-do. Results: In Seoul, the incidence of dementia was significantly lower in Index 2 than in Index 1 (hazard ratio [HR], 0.926; 95% confidence interval [CI], 0.875-0.979). However, the incidence rate did not differ between the 2 groups (HR, 1.113; 95% CI, 0.966-1.281) in Gangwon-do. In Index 1, the incidence of dementia did not differ between Seoul and Gangwon-do (HR, 1.043; 95% CI, 0.941-1.156), but in Index 2, was significantly higher in Gangwon-do than in Seoul (HR, 1.240; 95% CI, 1.109-1.386). Conclusions: After implementing the National Responsibility Policy for Dementia Care, the dementia incidence rate decreased significantly in Seoul, consistent with other studies, but not in Gangwon-do.