• Journal of Korean Society of Forest Science
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• v.107 no.3
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• pp.305-315
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• 2018

This study conducted to estimate the influences of policy which prohibits illegal logging trade. Before analyzing of the economic effects for this policy, scenario methods were selected to inflect economic circumstance by implementing it. In order to do, the policy experiments were carried out using equilibrium displacement equation model. Results show that change ratio of log price was increased 0.066%~0.071%. Since the primary import country of log is New zealand which is high CPI score rather than Republic of Korea so that imported quantity of log was decreased thinly. Because imported log price is worked as a cost in the lumber market, if the imported log price was increased, supply of lumber has to be decreased. So that, not the change ratio of domestic lumber price was increased 0.885%~4.179% but supply of domestic lumber was increased 5.367% respectively along the goods features as a heterogeneity or homogeneity on the market.

• Journal of The Korean Digital Architecture Interior Association
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• v.8 no.1
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• pp.15-21
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• 2008

The district unit planning (DUP) in Korea is a planning instrument. One of the key methods is the incentive system focused on the mitigation of the financial charge of business proprietors with use of various planning deregulation. Here in this paper, it is examined whether the incentive system is indiscriminately applied not only in the metropolitan cities but also in the rural cities. The analysis is carried out with six indicators in relation to the effect on the incentive system on the market of Apartment Housing Development. The indicators are a. the building-to-land ratio(BLR), b. the floor area ratio(FAR) c. the publicly assessed value of land(PAVL), d. the sale price of land(SPL), e. the sale/lease price of apartment house(SLPH) and f. the ratio of housing subscription(RHS). The final result is that the incentive system has different effects between metropolitan cities and rural cities. One of reasons lies on the too high FAR in rural cities to be given basically. Another reason lies on the difference between the cost for purchasing public installation and the profit of the sale & lease price of apartment house. In rural cities their difference becomes much narrow. Finally, the low ratio of housing subscription(RHS) in rural cities makes the effect of the incentive system nearby meaningless.

• International Area Studies Review
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• v.20 no.2
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• pp.47-62
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• 2016

This paper is to set up the empirical model in order to estimate industrial markup and to analyze the determinants for industrial markup by estimating the factor price elasticities of markup in the Korean manufacturing industries using the autoregressive distributed model. The import price elasticities of markup were estimated to be -1.025, -0.176, and -0.260 respectively in Machinery products, Chemical products, and Metallics which proved to have higher ratios of imported intermediate goods to industrial output. The interest elasticities of markup were also estimated to be -0.165, -0.147, and -0.210 respectively in Chemical products, Metallics, and Machinery products which are capital-intensive industries. Thus, the paper suggests that both import price index and interest rate have had more decisive effects on the changes in industrial markup in the Korean manufacturing industries, in particular, since the foreign currency crisis beginning in late 1997.

• International Area Studies Review
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• v.13 no.2
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• pp.66-88
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• 2009

This paper studies optimal discretionary monetary policy in the presence of uncertainty in the housing sector. In particular, we allow two possible regimes regarding the evolution of housing price inflation and the effects of housing price inflation on the aggregate demand. Estimation results with the US data confirm the presence of two distinctive regimes, one 'normal' and the other more akin to the housing price 'bubble' state. The optimal policy is 'asymmetric' in that the optimal responses in the 'normal' regime require the central bank to lean against the wind to inflationary pressure from CPI and housing inflation, while the central bank is recommended to accommodate it in the other regime.

• Environmental and Resource Economics Review
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• v.30 no.4
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• pp.535-555
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• 2021

This study empirically analyzes the effects of international oil prices on domestic stock market volatility. The data used for the analysis are 10-minute high-frequency data of the KOSPI index and WTI futures price from January 2, 2015, to July 30, 2021. For using the high-frequency data, a heterogeneous autoregression (HAR) model is employed. The analysis model utilizes the advantages of high frequency data to observe the impact of international oil prices through realized volatility, realized skewness, and kurtosis as well as oil price return. In the estimation, the Box-Cox transformation is applied in consideration of the distribution of realized volatility with high skewness. As a result, it finds that the daily return fluctuation of the WTI price has a statistically significant positive (+) effect on the volatility of the KOSPI return. However, the volatility, skewness, and kurtosis of the WTI return do not appear to affect the volatility of the KOSPI return. This result is believed to be because the volatility of the KOSPI return reflects the daily change in the WTI return, but does not reflect the intraday trading behavior of investors.

• 한국연소학회:학술대회논문집
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• 2014.11a
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• pp.297-299
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• 2014

Petroleum coke has high heating value and low price. Due to the steadily increasing demand for heavy oil processing, the production volume of petroleum coke tends to be expanded. The high availability and low price of petroleum coke have been strongly considered as candidate fuel for power generation facilities. However the high carbon content, high sulfur content and nitrogen content of petroleum fuel are known to produce relatively large quantity of CO2, high NOx and SO2 emission. In this work, a series of numerical simulations have been carried out in order to investigate the effects of swirl flow intensity on combustion furnace, which is most important operating condition. Results show that the temperature distribution was spatially uniform at about 1600K but high temperature region are located quite differently depending on swirl number. In addition, numerical temperature data was compared with experimental temperature data and its temperature difference shows less than 10%. On the other hand, discrepancy between numerical and experimental emission data were slightly large with necessities of improved emission model.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.20 no.41
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• pp.79-86
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• 1997

This study is tested the information effects of convertible bond(CB). In orter to examine the abnormal stock returns of convertable day of CB, this study were selected 134 samples for the period from Jan.1988 to Dec.1994. There are some empirical studies which pesent evidents that CB are converted day of CB. The results of empirical study are summarized as follows. As in korea stock market, abnormal stock returns of CB have influenced on convertable day of CB. The day has some affirmative influences but it takes away stock price pressures, the amount of stock and dilution effects. As the results, related corporate stock price falled in preference to market abnormal returns.

• Journal of Energy Engineering
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• v.11 no.2
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• pp.142-148
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• 2002

The variations of real time electric price in competitive electricity markets have influence on electric power demands of the consumers. Residential, commercial, and industrial consumers with different characteristics cause the different price elasticity of the demand due to changing the pattern of consumption. Therefore, this paper analyze the effects of spot pricing for the change of the electric power demand based on the demand elasticity of each loads in competitive electricity market.

• Korean Journal of Agricultural Science
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• v.25 no.1
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• pp.138-147
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• 1998

U-turn migration is one of the prominent phenomenon after IMF controlled Korean economy. However a number of U-turn migrants were settled in rural area before that time. This paper is aims at studying the socio-economic effects of U-turn migration in rural area. The study results are summarized as follows; First, migrants are relatively young and engaged in overall parts of the farming. The farmer with age under 50 is represented at 71.4% of migrants comparing with 53.7% of those farmers in rural area. Second, owing to the increasing number of U-turn migrants, the decreasing price of rural wages, the decreasing of idle land, and the increasing price of farm land are the outstanding phenomenon at present. Third, even though there are many kinds of supporting systems for U-turn migrants, the systems are not so successfully functioned. For the successful supporting system they must be changed for the individual migrant rather than target group.

• Journal of Korean Society for Quality Management
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• v.36 no.4
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• pp.77-86
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• 2008

Due to the rapid growth in automated testing and manufacturing systems, screening inspection becomes very attractive. In this paper, we investigate the effects of limited capacity on screening inspection using a surrogate variable. The model is developed under the assumption that the reprocessed and nonreprocessed items are produced by the same manufacturing process and therefore their quality characteristics are independently and identically distributed. Profit models are constructed which involve four price/cost components; selling price, cost incurred by imperfect quality, reprocessing and quality inspection costs. Methods of finding the optimal screening limits are presented, and a numerical example is given. Sensitivity analyses are also performed to study the effect of a process standard deviation on this model.