• The Journal of Asian Finance, Economics and Business
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• v.9 no.8
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• pp.7-17
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• 2022

The article discusses the problems caused by inflation in the developing Asia-Pacific region during the time of the worldwide pandemic and suggests innovative solutions to the problem. The reality is that some of the commodity groups from the consumer basket (e.g., non-seasonal fruits, electronics, furniture, hotel, and restaurant services, etc.) fail to reflect the needs of the low-income earners, which make the majority in developing countries. At the same time, the inflation targeting regime has become outdated and not reliable, because of uncontrolled exogenic factors (imported inflation, fluctuation in oil prices, supply chain disruption, Russia-Ukraine war, etc.) prevailing on endogenic factors and thus making it impossible to control the price stability, especially in developing countries. Since, the old-fashioned inflation index and inflation targeting mechanisms regrettably fail to fully reflect both the society and governmental/central banks' expectations, based on which we first should have better care and second create better policies; we propose to use a combination of already well-known indexes and policies, with the new statistical indicators, which reflects price fluctuations on the medication, utilities, and nutrition.

• The Journal of Society for e-Business Studies
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• v.24 no.4
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• pp.109-118
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• 2019

As a result of the United States (U.S) -China trade conflict, the recent instability of the stock market has led many people to invest in Bitcoin, a commodity that many previous studies have interpreted as a safe asset. However, recent Bitcoin market price fluctuations suggest that the asset's stability stems from speculative purchasing trends. Therefore, classifying the characteristics of Bitcoin assets can be an important reference point in analyzing relevant accounting information. To determine whether Bitcoin is a safe asset, this study analyzed the correlation between Bitcoin and economic indicators to verify whether gold and Bitcoin responded similarly in time series analyses. These show that the regression explanatory power between the price of gold and bitcoin is low, thus no relation between the two assets could be drawn. Additionally, the Granger causality analyses of six individual economic variables and Bitcoin did not establish any notable causality. This can be interpreted that short-term price fluctuations have a significant impact on the nature of Bitcoin as an asset.

• Fashion & Textile Research Journal
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• v.8 no.6
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• pp.639-646
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• 2006

The purpose of this study is to examine clothing benefits seeking and buying behavior depending on the level of environmental awareness. The results showed a significant relationship between the level of environmental awareness and the factors of demographic characteristics, such as age, marital status, educational status, and type of housing, occupation, and average household income. However, there was no significant difference between those by gender. In relationship between the level of environmental awareness and clothing benefits seeking behavior, there were significant differences between the following groups. such as social stability-oriented, brand-oriented, individuality-oriented, and comfort-oriented group. With regard to the relationship between environment-friendly consuming behavior and demographic characteristics, there were significant differences in all factors of the demographic characteristics. Buying behavior showed a significant relationship with all factors of demographic characteristics except type of housing. Using behavior matched a significant relationship with all factors of demographic characteristics. Disposition behavior demonstrated a significant relationship with all factors except marital status. In terms of the effect of clothing benefits sought on the environment-friendly consuming behavior, the results suggested a significant relationship of brand-oriented, individuality-oriented, comfort-oriented, and price-oriented factors. Buying behavior showed a significant relationship with brand-oriented, comfort-oriented, and price-oriented factors. Using behavior demonstrated a strongly significant relationship with comfort-oriented factor while disposition behavior suggested a strong relationship with price-oriented factor.

• Korean Journal of Organic Agriculture
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• v.11 no.2
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• pp.23-42
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• 2003

The study must have standpoints for the stable market construction of the Environmental-Friendly agricultural products of the quality-certificated which has rapidly grown due to a discussion of the environment and agriculture, income increase and the interests on foods stability. The survey was conducted through face-to-face interview of 200 adults who are in their twenties or more in Cheonan-city. In this research, the Environmental-Friendly agriculture was a clean agriculture not using a fertilizer or chemicals and the agriculture which protects the environment by preventing the environmental pollution. In the analyses of the consumer's willingness to pay, the rice showed 69,851 won, and a lettuce and bean-curd showed 947 won and 1.412 won respectively. In terms of current issues of the policy, to establish the stable circulation structure and consumption strategy, there must be a clearness raise of the Quality Authentication (QA) Mark. To raise the trust through quality authentication, there must be transparency raise of information by distribution stages and the thorough post management of the official institutes. Also, to persue the competitive product differentiation, there must be the settlement of the product brand on the market, development of the new production technology and a classification of consumers by incomes. Finally to construct stable distribution and price system, there must be active participation of the local agricultural cooperatives in the distribution of the Environmental-Friendly agricultural products of the quality-certificated and the understanding of the proper price of the consumer market and flexible strategy of the price change.

• Proceedings of the Korean Society of Crop Science Conference
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• 1998.10a
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• pp.68-111
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• 1998

The structure of the Hanwoo (Korean Native Cattle) Industry remains very weak and vulnerable to the WTO/IMF system. Considering that the majority of cattle farmers are small sized, and that marketing systems are outdated and inefficient, rapid expansion of lower priced beef imports by WTO system and rapid increasing of production costs by IMF system would lead to the deprivation of a regular source of farm income and threaten the stability of rural life. Accordingly, the Hanwoo industry should be expanded in accordance with progress in the implementation of (1) programs for the structural adjustment and (2) measures to compensate for the loss. Efforts for lowering major production factor costs needs to continue, In order to increase the supply of calves at low cost, the programs of collective cow-calf farms should be expanded, thereby reducing the cost of calf purchase, which constitutes the largest share of Hanwoo production cost. Also, feedlot operations should be encouraged for small herd farms in order to achieve a substantial saving in beef production costs by integrated operations from calf production to cattle fattening. A substantial saving would also be made by collective purchase and distribution of various inputs through the cooperatives' channels. Extension services should be strengthened for cattle farm management, cattle care and feeding, prevention of cattle disease, etc. In order to minimize cash outlays for commercial mixed feeds, utilization of far by-products as feeds should be enhanced and production of forage crops productive of resources, such as land and rural labor, during the farm o(f-season, needs to be encouraged. Also, technological development for enhancing the nutritional value of farm by-products should be encouraged. Measures for successful segregation of the Hanwoo beef market should be implemented, thereby enhancing incentive for quality beef producers and protecting consumers willing to pay higher price for quality beef. For development of the Hanwoo industry, a considerable time frame would be required in order for (1) small livestock farmers to make a successful adjustment by staying in the enterprise and achieving increased price efficiency (2) livestock farmers to acquire know-how for producing quality Hanwoo beef, (3) the ongoing Government policy of enhancing price-quality competitiveness, and for improving the quality Hanwoo beef marketing to take root. (4) consumers to increase their ability to distinguish meat quality, and others.

• Environmental and Resource Economics Review
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• v.33 no.2
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• pp.113-133
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• 2024

Variable renewable energy (VRE) such as solar and wind power is the main sources of achieving carbon net zero, but it undermines the stability of power supply due to high variability and uncertainty. Energy storage system (ESS) can not only reduce the curtailment of VRE by load shifting but also contribute to stable power system operation by providing ancillary services. This study analyzes how the allocation of ESS resources between load shifting and ancillary service can contribute to maximizing the efficiency of power supply in a situation where the problems caused by VRE are becoming more and more serious. A stochastic power system optimization model that can realistically simulate the variability and uncertainty of VRE was applied. The analysis time point was set to 2023 and 2036, and the optimal resource allocation strategy and benefits of ESS by varying VRE penetration levels were analyzed. The analysis results can be largely summarized into the following three. First, ESS provides excellent functions for both load shifting and ancillary service, and it was confirmed that the higher the reserve price, the more limited the load shifting and focused on providing reserve. Second, the curtailment of VRE can be a effective substitute for the required reserve, and the higher the reserve price level, the higher the curtailment of VRE and the lower the required amount of reserve. Third, if a reasonable reserve offer price reflecting the opportunity cost is applied, ESS can secure economic feasibility in the near future, and the higher the proportion of VRE, the greater the economic feasibility of ESS. This study suggests that cost-effective low-carbon transition in the power system is possible when the price signal is correctly designed so that power supply resources can be efficiently utilized.

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.35 no.5
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• pp.445-451
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• 2022

Ultrasonic sensor is suitable as a next-generation autonomous driving assist device because its lower price compared to that of other sensors and its sensing stability in the external environment. Although Pb(Zr, Ti)O₃ (PZT)-relaxor ferroelectric system has excellent piezoelectric properties, the change in capacitance is large in the daily operating temperature range due to the low phase transition temperature. Recently, many studies have been conducted to improve the temperature stability of ferroelectric ceramics by controlling the grain size and crystal structure, so it is necessary to study the effect of the grain size on the piezoelectric properties and the temperature stability of PZT-relaxor ferroelectric system. In this study, the piezoelectric properties, phase transition temperature, and temperature coefficient of capacitance (TCC) of 0.9 Pb(Zr_1-xTi_x)O₃-0.1 Pb(Zn_1/3Nb_2/3)O₃ (PZT_x-PZN) ceramics with various grain sizes were investigated. PZT_x-PZN ceramics with larger grain size showed higher piezoelectric properties and temperature stability, and are expected to be suitable for ultrasonic devices in the future.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.61 no.6
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• pp.791-796
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• 2012

This paper presents the various analysis of the power system for operating the new SIHWA tidal power plant. In the analysis of the power system, summer load condition of 2011 is used. Especially, power flow, fault current, voltage and contingency of SIHWA tidal power plant area are analyzed by using PSS/E and there is no problem for the dynamic stability simulation. The new SIHWA tidal power plant is located in near metropolitan area where about 43% amount of the system load is consumed. Therefore, transmission losses are reduced. In addition, system marginal price can be lowered by generating the new SIHWA tidal power plant. The generation pattern of the SIHWA tidal plant is analyzed and the changes of generation are presented for various water levels by control of the rotor angle alpha and beta in water wheel generator.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.135-169
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• 2014

This study empirically analyzes changes in production patterns of farmers by agricultural disaster insurance. The aim of this project is to achieve stability of farm management by paying insurance in case of a natural disaster. However, it causes farmers to change production patterns in the direction of increasing production, and leads the crop price to drop. This can be explained by producers' risk reduction through the disaster insurance. The empirical analysis is based on IV approach with using two stage least squares method. The first stage estimates by difference-in-differences methodology indicate that the production of insurable crops increases more about 80,000ton on average than that of non-insurable crops. In addition, to solve the endogeneity problem caused by general supply and demand model, I use the first stage estimates and find that the price index of the crops drops about 2.3% according to the production increase by 10,000ton. The credibility of these results is also attained by various robustness checks. These findings suggest that it is necessary for government to analyze the whole economy which consists of producer and consumer welfare when it determines the policy. Besides, it implies that it is essential to develop a new market to cope with the unintended effect.

• Journal of Distribution Science
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• v.14 no.12
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• pp.79-87
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• 2016

Purpose - Since 1990, the sudden stop in capital flows has caused the economic crisis. The purpose of this research is to suggest the policy measures to mitigate the risk of the sudden stop in capital flows. To this end, we examine the theoretical framework and analyze the case study for countries which are faced with the sudden stop. Also we examine the structural problems of the foreign exchange market in Korea and derive the policy implications to prevent the sudden stop. Research design, data, and methodology - The criteria of whether the sudden stop in capital flows occurs are based upon Calvo et al. (2008). In case the proxy variable for the balance of capital account decreases from the average by over twice standard deviation, we determine that the sudden stop occurs for that country. The sample period is from January 1990 to December 2008, as in Calvo (2014). The sample countries are 17 developed countries and 19 emerging market countries, which are different from those of the previous papers as Agosin and Huaita (2012), and Calvo (2014). When the exchange market pressure index(EMPI) is deviated from the average by over three times standard deviation, we determine that the foreign exchange market is unstable for that country. Results - We find that the characteristics of the sudden stop in capital flows are the bunching or contagion among countries, the rapid drop in real effective exchange rate, and the huge decrease in foreign exchange reserves. Many countries tried to increase foreign exchange reserves and regulate capital flows. Also the foreign exchange market in Korea are found to be the volatile exchange rate, the vulnerable external debt and careless management of the foreign exchange derivatives transaction risk. Conclusions - To lessen the risk in the sudden stop of capital flows, this research suggests the some useful policy measures. To enhance the foreign exchange and distribution market stability, we should improve the price mechanism of exchange rate, hold the appropriate level of foreign exchange reserves, prevent excessive inflows of foreign exchange and promote sound transactions of foreign exchange derivatives.