• Journal of Family Resource Management and Policy Review
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• v.26 no.3
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• pp.19-34
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• 2022

There are growing concerns about debt insolvency among youth and low-income households. The deterioration in household debt quality among young people is due to a combination of sluggish employment, an increase in student loan burden and an increase in high-interest loans from the secondary financial sector. The purpose of this study was to explore the possibility of household debt default among young borrowers in Korea and to predict the factors affecting this possibility. This study utilized the 2021 Household Finance and Welfare Survey and used random forest algorithm to comprehensively analyze factors related to the possibility of default risk among young adults. This study presented the importance index and partial dependence charts of major determinants. This study found that the ratio of debt to assets(DTA), medical costs, household default risk index (HDRI), communication costs, and housing costs the focal independent variables.

• Journal of Digital Convergence
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• v.16 no.4
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• pp.79-85
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• 2018

The objective of this study focuses on the relationship between increasing of leverage and income, asset purchase. For empirical test, regression analysis was conducted using panel data of the household financial welfare survey. The results of the analysis are as follows: First, increasing of leverage is determined by the asset purchase. Deleveraging can be realized by reducing the size of the assets. Second, increase of leverage has positively affected on the increase of asset. Also, the increase of income has significantly positive influence on the increase of assets. These results provide practical guidance as research in increasing of leverage and increase of asset and the limitations of the research and future study are discussed as well.

• The Journal of the Korea Contents Association
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• v.17 no.9
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• pp.145-158
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• 2017

Lately, rapid increase of household debt and economic change has affected cash flow of household, insolvent risk has increased by high repayment burden of the principal and interest. Previous researches was progressing various discussion, composed objective repayment burden index about household debt. But it was relatively insufficient about perception of consumer. This research compare and analysis determinants of subjective repayment burden in household debt by income quintile, using 2016 Household Financial Welfare Survey. The research result is follows. The income 1 and 2 quartile groups have the higher monthly rent and credit card loan and the housing preparation loan ratio, the higher burden on repayment of the principal and interest. The Income 3 and 4 quartile groups have the higher 60s or older and member of household and real estate mortgage loan, the higher burden on repayment of the principal and interest. The Income 5 quartile group has the higher loan ratio for debt repayment preparation, the higher burden on repayment of the principal and interest.

• Journal of Family Resource Management and Policy Review
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• v.16 no.3
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• pp.153-176
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• 2012

This study gives an account of the state of baby-boomer households in regard to assets and liabilities utilizing the 2006 Household Asset Survey and the 2011 Survey of Household Finances. Using the data gathered from each year, this study examined the proportion of households who had each type of asset and liability, and the amount of them. This study also compared the amount of assets and liabilities of baby-boomer households with those of non baby-boomer households in 2006 and 2011 respectively. Finally, this study examined the amount of change and composition ratio of assets and liabilities of baby-boomer households between 2006 and 2011. Selected financial ratios were also presented for both years. Major findings are as follows. The average asset amount for baby-boomer households was approximately 296 million in 2006 and 392 million in 2011. Of total assets, 78% and 76.5% were real assets in 2006 and 2011 respectively. The average financial assets of 2006 baby-boomer households were approximately 66 thousand and the average amount of debt was 42 thousand. For 2011 baby-boomer households, the average amount of financial assets was 92 thousand and the average amount of debt was 73 thousand. Results from the 2011 survey showed that baby-boomer households had a significantly higher proportion of total assets, total debt, and net worth than non baby-boomer households. The proportion of savings, saving insurance, stocks, and mutual funds were significantly higher for baby-boomer households than non baby-boomer households in 2011. In regard to financial ratios, the emergency fund index and debt burden index were appropriate to the guidelines of asset quality, although the propensity to investment indexes were not.

• Land and Housing Review
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• v.5 no.4
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• pp.259-269
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• 2014

After global financial crisis, the ratio of household debt to GDP was decreasing in other advanced countries such as the U.S., and the U.K. and so on. But, in Korea, household debt (of which residential mortgage loan account for a large part) ratio is still increasing. This paper focuses on the scale and characteristics of households in negative housing equity (those are called House-poors in Korea), and also the socio-economic backgrounds of the formation process. In financial perspective, the problem of negative housing equity depends on financial debt repayment capability. We used DSR (Debt Service Ratio) and LTA (Loan to Asset ratio) as financial indicators to evaluate the debt repayment capability. The critical value of DSR is assumed as 40%, and LTA 100%. The socio-economic backgrounds of the House-poors are as follows : increasing households debt dependency, over lending competition of financial institutions and unreasonable loan in household economy, instability of real estate market, week regulation on mortgage loan. Finally, this paper suggests some implications about the range and the target of public intervention.

• 한국노년학
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• v.36 no.3
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• pp.809-826
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• 2016

This study analyzed private pension dependency of Korea and U.S. households using the most recent dataset of two countries. For this purpose, 2013 Korean Retirement and Income Study(KReIS) of national pension research institute in Korea and 2013 SCF(Survey of Consumer Finances) of FRB in U.S. were used. The private pension dependency was defined as the proportion of private pension wealth among total financial wealth in each household and tobit model was used to investigate determinants of private pension dependency of the two countries. After controlling for other factors, household income and net worth, age, educational attainment, and health status of householder were crucial determinants of private pension dependency for both countries. Householder's age, educational attainment, and health tend to increase the private pension dependency in Korea and U.S. However, household income and net worth affected the private pension dependency opposite direction. The private pension dependency increased with high level of income and net worth in Korea, while it decreased with high level of income and net worth in U.S. Results of this study provide useful implications for future pension system and policy in Korea.

• The Journal of the Korea institute of electronic communication sciences
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• v.9 no.3
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• pp.393-402
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• 2014

ICT environment to the survey released by the Bureau of Statistics 2012 Household Finance. Korean Welfare survey 24.9% of all households in financial assets, real estate is about three times more than 69.9%, respectively. The problem is that the information is slow and income deciles(deciles 1-4), a relatively high proportion of households with low(78.8 to 69%) of the real estate assets of the expansion of the world economy with low growth and low uncertainty, work from home due to the information changes in the structure of the economy, such as increases in real estate prices remain exposed to the risk of a phenomenon such as Pour House Pour Talent and low-income people is bound to be more serious symptoms. This low correlation is by constructing a composite asset portfolio, the weighted average risk of the individual assets while increasing overall revenue decrease that risk is based on the principle of portfolio by type and different areas in the ICT environment in a portfolio of real estate price index low correlation to financial assets by including the effect of dispersion stable complex asset portfolio and empirical Growth was divided.

• Journal of Labour Economics
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• v.23 no.2
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• pp.61-80
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• 2000

Using raw data of the 'Family income and expenditure survey,' we find that the earning distribution worsened in Korea after the financial crisis; the gap between ninetieth and tenth percentile grew larger after the crisis more than before. Such a phenomenon is apparent within narrowly defined education and labor market experience variables. We found that the increase in earning inequality came from the rapidly increasing return to the components of skill other than the schooling and experience, which is caused by the increasing demand of skill after the crisis. Therefore, we can interpret the growing demand for skill is an important factor leading the increase in the earning inequality after the Crisis. And then, we think that the reason for the increasing demand for skill after the crisis can be found in the changes of the technology, the organizational and personnel practice, the globalization, and the labor market. We can derive policy implications from this : To narrow the inequality we must invest the industrial demand-oriented education.

• Economic Analysis
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• v.25 no.2
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• pp.1-53
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• 2019

This paper examines monetary policy quantitatively in a two-agent and small-scale New-Keynesian economy with debt-constrained households that cannot smooth their consumption intertemporally and frictionlessly since highly indebted households are not allowed to borrow above a certain debt ceiling in incomplete financial markets without additional risk premiums due to information asymmetry between savers and borrowers. We find that, in the event of cost shocks, the asymmetric responses of borrowing households without, and saving households with, dividend incomes lead to different labor supplies and consumptions over heterogeneous households, and eventually to an extension of the monetary policy transmission channels. The income effect and low elasticity of the labor supply play key roles in such asymmetric responses over heterogeneous households. We also find that the social welfare in a flexible inflation targeting (FIT) monetary policy, in which both the inflation gap and the output gap are considered in an integrated manner when policy-making, is similar to that of the Ramsey optimal monetary policy (ROP), in which the shares of debt-constrained households, as well as all economic states, including both the inflation gap and output gap, are considered comprehensively for policy-making, and that it is greater than that of simple inflation targeting (SIT) monetary policy, in which only the inflation gap is considered mechanically for policy-making. Such social welfare implies that a FIT policy may still work even in an economy with a sizable number of debt-constrained households. Further, the responses of cost shocks to consumption and labor supply are dying out more slowly under FIT and ROP policies than under an SIT policy.

• Review of KIISC
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• v.4 no.1
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• pp.44-52
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• 1994

정보화 사회에서는 가계, 기업, 정보 등의 정보 활동의 주체들이 가진 정보자산은 데이타 베이스(이하DB)와 소프트웨어(S/W)로 대변할 수 있으며, 이중 DB는 정보화 사회의 기반시설의 하나라고 볼 수 있다. 특별히 통계DB는 각 주체들에게는 필수적인 정보를 갖고 있다. 금융자산의 정보, 국방에 관련된 병력, 장비, 군수물자등의 정보, 회계정보 뿐 아니라 인구센서스, 경제계획수립 등등의 다양한 분야에 이 통계 DB는 사용되고 있다. 이러한 통계DB는 기존의DB에서의 데이타의 저장, 관리, 추출 기능외에 통계적인 데이타의 분석기능이 요구되고 있다. 통계 처리를 위한 데이타베이스관리 시스템(DBMS, database management system)은 주로 기존의 DBMS 에 통계처리를 위한 기능을 추가하거나 통계를 위한 DB를 따로 구축하는 방법을 사용하고 있다. 따라서 일반적인 DB 보호 기술과 더불어 통계 의 환경을 이해하는 보호 기술이 요구되고 있다. 일반적으로 DB 를 보호하는 방법으로는 물리적인 보안(physical security)과 운영체계 보안(operating system security) 이 있으며, 이들과 함께 데이타 암호화(data encryption)의 방법을 사용하고 있다. DB 의 보안 방법에 관한 연구 중 George I. Davida 등에 의한 방법은 중국인의 나머지 정리(chinese remainder thorem)를 사용하는 암호화 알고리즘을 이용하여 레코드(record) 단위의 암호화를 하며, Khamis A. Omar등에 의한 방법은 읽기, 쓰기, 갱신의 3단계의 사용자 등급을 부여하여 DB 접근의 제약을 가하는 기능을 갖고 있다. 본고에서는 특히 그 중요성이 더해가고 있는 통계 의 일반적인 개념을 살펴보며, 특성 지향형 질의 모델(characteristic-specified query model)의 보호기술을 살펴본다. 특별히 본고는 통계 DB의 보호에 대한 일반적인 조사 연구로서 잘 알려진 사실들을 많은 참고 문헌과 더불어 소개하는 내용으로 통계 DB의 보호에 관한 새로운 연구 결과는 아니다.