• Korean Journal of Agricultural Science
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• v.48 no.1
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• pp.59-71
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• 2021

This study investigated the extent to which rice producers from the Ayeyarwaddy Region of Myanmar could improve their productivity if inputs were used efficiently in rice cultivation. To achieve this objective, simple random sampling was used to collect data from 300 rice growers in the study area. Data were analyzed with the translog stochastic frontier approach to understand the production efficiencies. The study further estimated the influencing factors that affect the efficiency levels of rice farmers. The empirical result reveals that the average technical, allocative, and economic efficiencies were at 76.11, 47.85, and 34.15%, respectively. This suggests that there is considerable room for improving rice production by better utilization of the available resources at the current level of technology. This study suggests that strenthening agricultural training programs and adoption of improved rice varieties may reduce overall inefficiencies among rice farmers in Myanmar. Factors like age, household size, education, farming experience, farm size, rice variety, training, and off-farm income have a significant impact on increasing/decreasing farmer's efficiency. Efficiency can be improved by establishing farmer field school programs to increase the scale of operations. The government should encourage young educated people to participate in paddy production and also intervene to reduce input prices and control the quality of seeds.

• Communications for Statistical Applications and Methods
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• v.12 no.1
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• pp.101-115
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• 2005

We propose in this article a procedure for testing unit and fractional orders of integration, with the roots simultaneously occurring in the trend, the seasonal and the cyclical component of the time series. The tests have standard null and local limit distributions. However, finite sample critical values are computed, and several Monte Carlo experiments conducted across the paper show that the rejection frequencies against unit (and fractional) orders of integration are relatively high in all cases. The tests are applied to the UK consumption and income series, the results showing the importance of the roots corresponding to the trend and the seasonal components and, though the unit roots are found to be fairly suitable models, we show that fractional processes (including one for the cyclical component) may also be plausible alternatives in some cases.

• The Korean Journal of Financial Management
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• v.8 no.2
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• pp.165-208
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• 1991

This paper develops an intertemporal general equilibrium model of asset pricing with taxes under the noisy and the incomplete information structure and examines theoretically the stochastic behavior of general equilibrium asset prices in a one-good, production, and exchange economy in continuous time markets. The important features of the model are its integration of real and financial markets and the analysis of the effects of differential tax rates between ordinary income and capital gains. The model developed here can provide answers to a wide variety of questions about stochastic structure of asset prices and the effect of tax on them.

• KDI Journal of Economic Policy
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• v.40 no.4
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• pp.23-45
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• 2018

The Korean government has provided various policy devices to boost technology transfers between academia and industry since the establishment of the Technology Transfer Promotion Act in 2000. Along with the enactment of the law, the Korean government mandated the establishment of a technology transfer office at national and public universities and encouraged technology transfer activities. Despite the quantitative expansion of technology transfer offices (TTOs), operational inefficiency was brought up. As a supplementary policy, the Korean government implemented a line of projects to support the labor and business expenses of leading TTOs. This research questions whether the project greatly affected the technical efficiency of TTOs. We analyze publicly available university panel data from 2007 to 2015 using a one-step stochastic frontier analysis. The results suggest that the program was marginally effective at shifting the technical efficiency distribution to the right on average, but it failed to maximize its impact by diversifying the policy means based on targets. The marginal effects of the program on technical efficiency differ according to the research capability and size of each school. We also compare technical efficiency against the licensing income at the start and end of the program. Technical efficiency increased for the leading TTOs, and both measures show improvements for unsupported TTOs. Our empirical results imply that diversifying the program for universities with different characteristics may have improved the effectiveness of the policy.

• KDI Journal of Economic Policy
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• v.30 no.2
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• pp.185-223
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• 2008

This paper considers a heterogeneous agent dynamic general equilibrium model and analyzes effects of an increase in labor income tax rate on labor market and the aggregate variables in Korea. The fiscal policy regarding how the government uses the additional tax revenue may take the two forms: 1) general transfer and 2) earned income tax credit (EITC). The model features are as follows: 1) Workers are heterogeneous in their productivity. 2)Labor is indivisible, hence the analysis focuses on the variation in labor supply through the extensive margin in response to a change in fiscal policy. 3) The incomplete markets are introduced, so individual workers can not perfectly insure themselves against risks related to stochastic changes in income or employment status. 4) The model is of general equilibrium, hence it is equiped to analyze the feedback effect of changes in aggregate variables on individual workers' decisions. In the case of general transfer policy, the government equally distributes the additional tax revenue to all workers regardless of their employment states. Under this policy, an increase in the labor income tax rate dampens work incentives of individual workers so that the aggregate employment rate decreases by 1% compared with the benchmark economy. In the case of EITC policy, only employed workers whose labor incomes are below a certain EITC ceiling are eligible for the EITC benefits. Unlike the general transfer policy, the EITC induces low-income workers to participate the labor market to be eligible for EITC benefits. Hence, the aggregate employment rate may increase by 2.7% at the maximum. As the EITC ceiling increases, too many workers can collect the EITC but the benefits per worker becomes too little so that the increase in employment rate is negligible. By and large, this study demonstrates that EITC may effectively raise the aggregate employment rate, and that it can be a useful policy tool in response to the decrease in the labor force due to population aging as observed in Korea recently.