• Journal of Korean Society of Rural Planning
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• v.28 no.2
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• pp.41-50
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• 2022

The primary purpose of this study is to identify various factors that affect farmland prices according to changes in the actual transaction price of farmland over the past decade, and to use this to derive policy implications for price stabilization. To this end, the farmland price model are constructed at the parcel level in the case area (Namwon-si, Jinju-si). The analysis method is based on the Hedonic price function, and the OLS and the quantile regression are used for the parcel level model. As a result of estimating the parcel level farmland price model in the case area, the larger the parcel area, the lower the farmland price, and the higher the farmland price outside the agricultural promotion area. It was found that there was a price difference according to the type of special purpose areas, and the location characteristics showed some differences across the cities. The farmland price models presented in this study are suitable for identifying the factors affecting farmland prices, and are expected to be highly utilized in that it is possible to construct flexible variables suitable for regional characteristics.

• Journal of the Korean Geographical Society
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• v.49 no.5
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• pp.690-704
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• 2014

Single family houses are the traditional & typical type of house in human history. But there had been little attention to single family houses in Korea so that there was little studies on single family houses. This study aimed to analyse price determinants of single family houses in Seoul, using Quantile Regression Analysis(QRA). Because single family houses has large levels of price, quantile regression analysis is more proper than Ordinary Least Square(OLS). The Results of analysis showed that, land coverage ratio, zoning, passed years, basement floor, hight of land, shape of land were important factors to single family houses price. The scale of effect of land coverage ratio to single family houses price was different to price levels of single family houses. And basement floor affected more negative effects to middle price, location and zoning had positive effects to high price single family houses. The degree of influence of determinants of single family houses price was deferent by region, KangBuk and KangNam. In KangNam, land coverage ratio and accessibilities were more important in low price single family houses, green zone and more far way is affected positive effects on single family houses price. In Kangbuk, land coverage ratio affects similar effects on single family houses price.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.38 no.3
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• pp.149-158
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• 2015

The purpose of this paper is to investigate the determinants of new product diffusion. We seek to document and explain systematic features of product diffusion. In this essay, we examine the well-documented empirical regularity that the speed of diffusion has accelerated during the twentieth century. The empirical results show that the main source of acceleration are faster declines in prices. Faster price declines make the product affordable to more consumers within a given period of time. Based on theories of intertemporal price discrimination and learning-by-doing, the association between the speed of adoption and the speed of price decline was explained. Faster price declines are attributed to several product characteristics as well as changes in income distribution. Above all, the introduction of consumer electronic products in more recent years can be regarded as the most important factor in accelerating price declines. Consumer electronic products are technologically different from non-electronic goods, in that semiconductors are important components. As the price of semiconductors has dropped rapidly, the falling production costs can be rapidly incorporated to the price of consumer electronic goods. Furthermore, most of the recently introduced consumer electronic products have network externalities, and many products with network externalities require complementary products. A complementary product becomes more readily or cheaply available as more people have the main product. One major difference between previous studies and this study is that the former focuses only on the factors that operate directly on the speed of adoption, while this study incorporated factors that work through price changes as well as the factors that work directly on the speed of adoption.

• International Area Studies Review
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• v.20 no.1
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• pp.167-181
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• 2016

In Korea, the transportation & telecommunication service industry is composed of public sector entities, such as public transportation and the postal service, and private sector entities. The public sector may be regulated in terms of pricing or is guaranteed a normal profit. Markup can be a subject for regulation. This paper is to set up the markup equation, estimate the industrial markup, and analyze the markup determinants by estimating the factor price elasticities of markup in the Transportation & Telecommunication industry. The factor price elasticities of markup were estimated to be -0.07 in wage rate, -0.45 in import price index, and -0.13 in interest rates. We suggest that import price and interest rate are major factors to be considered first of all in regulating the transportation & telecommunication industry.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.366-375
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• 2007

Our nation has a problem with discrimination of income distribution and inefficient of resources distribution caused by real estate price rising from a sudden economy growth and industrialization. Specially, in recent years, there is a great disparity of condominium price between the north and south of the Han river. Because the housing price is deciede by the immanent value of a house and neighborhood effects of the regional where the house is situated, the housing price is occurred difference. In this study, I analyzed the differences of housing price determinants about condominium developments in the old and new residential areas, and found the important factors that affect the condominium price using Structural Equation Modeling(SEM) The purpose of study is to analyze the influence of various factors of housing price. Also, this study tried to predict real estate market and to establish previous effective real estate policy.

• The Journal of the Korea Contents Association
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• v.18 no.3
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• pp.286-298
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• 2018

This study presents determinants of resettlement considering population, economy, residential environment, policy characteristic, proposes implications for increase of resettlement. The research method deducted determinants of resettlement by union groups using logistic regression, union members are divided to more 10 years group and under 10 years group focused on real estate ownership duration. The analysis results are summarized as follows. More 10 years group has higher age, neighborship, satisfaction about pre-sale price, inside region in redevelopment promotion project, satisfaction about increase of real estate price, the higher resettlement decision probability. Under 10 years group has higher satisfaction about increase of real estate price, satisfaction about pre-sale price, satisfaction about floor area ratio incentive, the higher resettlement decision probability. the political implications must be customized financial support considering economic situations and increase of asset value by real estate ownership duration.

• Journal of Korean Society of Rural Planning
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• v.30 no.2
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• pp.1-11
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• 2024

Farmland transaction prices are affected by various factors such as politics, society, and the economy. The purpose of this study is to identify multiple factors that affect the farmland transaction price due to changes in the actual transaction price of farmland by farmland unit from 2016 to 2020. There are several previous studies analyzed the determinants of farmland transaction prices by considering spatial dependency. However, in the case of land transactions where the time and space of the transaction affect simultaneously, if only spatial dependence is considered, there is a limitation in that it cannot reflect spatial dependence that occurs over time. In order to solve these limitations, To address these limitations, this study builds a spatio-temporal autoregressive model that simultaneously considers spatial and temporal dependencies using farmland transactions in Jinju City as an example. As a result of the analysis, it was confirmed that there was significant spatio-temporal dependence in farmland transactions within the previous 30 days. This means that if the previous farmland transaction was carried out at a high price, it has a spatio-temporal spillover effect that indirectly affects the increase in the price of other nearby farmland transactions. The study also found that various location attributes and socioeconomic attributes have a significant impact on farmland transaction prices. The spatio-temporal autoregressive model of farmland prices constructed in this study can be used to improve the prediction accuracy of farmland prices in the farmland transaction market in the future, and it is expected to be useful in drawing policy implications for stabilizing farmland prices

• The Journal of Fisheries Business Administration
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• v.32 no.1
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• pp.1-14
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• 2001

The research on the price-volume relation in the market is very important because it examines into regular phenomenon revealed by market participants including producers and middlemen. The purpose of this study is to investigate the relationship between price and trading volume in the oyster producing market. In order to accomplish the purpose of this study, the contents of empirical analysis include the time series properties of price and trading volume, the short-term and long-term relationships between price and trading volume, and the determinants of trading volume. The data used in this study correspond to daily price and trading volume covering the time period from January 1998 to April 2001. The empirical results can be summarized as follows : First, price and trading volume follow random walks and they are integrated of order 1. The first difference is necessary for satisfying the stationary conditions. Second, price and trading volume are cointegrated. This long-run relationship is stronger from trading volume to price. Third, error correction model suggests that feedback effect exists in the long-run and that price tends to lead trading volume by about five days in the short run, that is, to be required period by digging, conveying, and peeling oystershell for selling oyster. Fourth, price and price volatility is a determinant of trading volume. In particular, trading volume is a negative function of price. It is believed that the conclusion drawn from this study would provide a useful standard for the policy makers in charge of reducing the oyster price volatility risk caused by trading volume(selling quantities).

• East Asian Journal of Business Economics (EAJBE)
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• v.7 no.1
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• pp.27-38
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• 2019

Purpose - Recently, the trade war between China and US has been escalating, which has also attracted worldwide attention. Based on this background, this paper sets China and US as an example to explore the determinants of bilateral trade between China and US. Research design, date, and methodology - A quarterly data from the 2000-Q1 to the 2017-Q4 will be used to perform an empirical analysis under some econometric approaches such as the fully modified least squares and the vector error correction estimates. Result - The results illustrate that the two economic entities of China and US have the greatest positive effect on bilateral trade between China and US. The real exchange rate has a positive effect on bilateral trade between China and US. The nominal exchange rate has a negative effect on bilateral trade between China and US in the short run. US's average price has a positive effect on bilateral trade between China and US in the short run. China's average price has a negative effect on bilateral trade between China and US in the short run. Meanwhile, the bilateral trade between China and US also suffers from the economic crisis happened in 2008. Even through the bilateral trade between China and US in the short run is deviate from the long-run equilibrium, there exist an error correction mechanism back to the long-run equilibrium. Conclusion - This paper provides some empirical evidences for both governments. Based on the results of this paper, both governments should take corresponding measures to promote the development of bilateral trade between China and US.

• Journal of the Korean Regional Science Association
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• v.13 no.2
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• pp.93-118
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• 1997

Main findings of this study are as follows. Time-space model of Korea for urban growth model is established. The variables of space model resulted in job and education, which both are significant at 0.01 level and positive. The effect of job and education on the urban growth are 0.76 and 0.29 respectively in average. the determinants for deciding the influences for job variable are income variable and price-level variable. Income variable contributes 68.66% and the direction is negative while contribution of price-level variable is 29.90% and the direction is positive. The determinants for education variable are income, unemployment and wage difference between university graduates and high school graduates. The contribution and the high school graduates. The contribution and the direction of each variable for education variable are 63.6% and positive for the unemployment variable, 15.99% and negative for the income variable and 13.75% and positive for the wage difference variable. This study in different from previous works in three ways. The first is to establish the time-space model which could consider the time and space factor simultaneously. The second is to build data bases which contain the data of almost every city and every year in Korea during the objective period, which make the analysis continuous. The third is that the general analytic framework for the study is macrosocial one rather than a behavioral one, which means the unit of analysis is the metropolitan community and each city occupies population actively through it's potential power such as jobs, education and so on rather than a city population is the passive result of migration.