• Journal of Environmental Impact Assessment
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• v.28 no.2
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• pp.141-151
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• 2019

Korea has passed the Act on the Integrated Control of Pollutant-Discharging Facilities in 2015, and the integrated environmental management under the BAT standard is underway. To summarize the nature of integrated environmental management, it is the regulation by the integration of the management of the multi-pollutant source and the technical standard of BATs. In general, in environmental economics, regulation-based on technical standards are known to be inefficient. This paper attempts to evaluate the efficiency of BAT standards from an economic point of view. A simple multi-pollutant model demonstrates that the inefficiency of the environmental tax with imperfect information in a single pollutant situation is amplified under multi-pollutant conditions. The simultaneous introduction of BAT and IPPC can be partially explained by this logic. It is also highlighted by the strengthening of BAT standards by EU, as a countermeasure to the potential deterioration of air quality caused by the change of effective environmental taxes accompanying the fuel and emission price changes.

• Korean Journal of Agricultural and Forest Meteorology
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• v.25 no.4
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• pp.276-283
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• 2023

Garlic (Allium sativum L.) is one of the most important vegetables used in various foods in Korea and many countries. The growth of garlic is influenced by various abiotic factors such as cultivation temperature, humidity, minimum temperature duration, and photoperiod. This study investigated the effects of increasing temperatures on the plant growth of the northern- ecotype garlic 'Uiseong' in a temperature gradient tunnel. As a result, temperature increase led to decreases in the bulb diameter, weight, and clove pieces of garlic. The rise of cultivation temperature increased the occurrence rate of incomplete bolting in the Northern-ecotype garlic 'Uiseong', resulting in decreases in productivity and a decrease in the yield of marketable garlic, indicating that temperature increases affect the development of garlic bulb formation. The findings of this study are expected to contribute as foundational data for understanding the growth responses of the northern-ecotype 'Uiseong' to increasing cultivation temperatures. The results of this study can be used to develop designing garlic growth models. In addition, the results of this study can improve understanding the interaction between increased temperature and garlic growth.

• 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.

• Journal of Korean Society of Transportation
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• v.22 no.6
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• pp.133-144
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• 2004

A model and a measure which can evaluate the risk of rear end collision are developed. Most traffic accidents involve multiple causes such as the human factor, the vehicle factor, and the highway element at any given time. Thus, these factors should be considered in analyzing the risk of an accident and in developing safety models. Although most risky situations and accidents on the roads result from the poor response of a driver to various stimuli, many researchers have modeled the risk or accident by analyzing only the stimuli without considering the response of a driver. Hence, the reliabilities of those models turned out to be low. Thus in developing the model behaviors of a driver, such as reaction time and deceleration rate, are considered. In the past, most studies tried to analyze the relationships between a risk and an accident directly but they, due to the difficulty of finding out the directional relationships between these factors, developed a model by considering these factors, developed a model by considering indirect factors such as volume, speed, etc. However, if the relationships between risk and accidents are looked into in detail, it can be seen that they are linked by the behaviors of a driver, and depending on drivers the risk as it is on the road-vehicle system may be ignored or call drivers' attention. Therefore, an accident depends on how a driver handles risk, so that the more related risk to and accident occurrence is not the risk itself but the risk responded by a driver. Thus, in this study, the behaviors of a driver are considered in the model and to reflect these behaviors three concepts related to accidents are introduced. And safe stopping distance and accident occurrence probability were used for better understanding and for more reliable modeling of the risk. The index which can represent the risk is also developed based on measures used in evaluating noise level, and for the risk comparison between various situations, the equivalent risk level, considering the intensity and duration time, is developed by means of the weighted average. Validation is performed with field surveys on the expressway of Seoul, and the test vehicle was made to collect the traffic flow data, such as deceleration rate, speed and spacing. Based on this data, the risk by section, lane and traffic flow conditions are evaluated and compared with the accident data and traffic conditions. The evaluated risk level corresponds closely to the patterns of actual traffic conditions and counts of accident. The model and the method developed in this study can be applied to various fields, such as safety test of traffic flow, establishment of operation & management strategy for reliable traffic flow, and the safety test for the control algorithm in the advanced safety vehicles and many others.

• 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.

• Journal of Korean Society of Steel Construction
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• v.15 no.2
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• pp.187-196
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• 2003

Today, the Working Stress Rating (WSR) is being widely used for the capacity-rating and the safety assessment of railroad steel bridges. Since it cannot incorporate the uncertainties, several studies have been carried out in order to get over the incompleteness of the conventional capacity-rating and safety assessment. A system reliability-based equivalent capacity-rating method, which can evaluate the capacity of existing bridges, has been recently proposed. For more efficient reliability analysis, probabilistic parameters of the random variables in the limit-state models should be reasonably evaluated. Especially, uncertainties for live load effects must be realistically included. In this study, an improved limit-state model was used for the system reliability-based equivalent strength method. This model can incorporate the probabilistic parameters obtained from ambient measurement data. To demonstrate the applicability of the improved system reliability-based equivalent capacity rating method, this was applied to the existing steel plate girder bridge for comparison with the conventional capacity-rating and safety assessment.

• Journal of Intelligence and Information Systems
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• v.14 no.2
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• pp.121-136
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• 2008

Although domestic research funding organizations require patented technologies as an outcome of financial aids, they have much difficulty in evaluating qualitative value of the patented technology due to lack of systematic methods. Especially, because citation data is not essential to patent application in Korea, it is very difficult to evaluate a patent using the incomplete citation data. This study proposes a method for evaluating technology importance of a patent when there is no or insufficient citation data in patents. The technology importance of a patent can be evaluated objectively and quantitatively by the proposed method which consists of 5 steps such as selection of a target patent, collection of related patents, preparation of key word vector, clustering patents, and technological importance assessment. The method was applied to a patent on 'user identification method for payment using mobile terminal' in order to evaluate technology importance and demonstrate how the method works.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.3 no.4
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• pp.325-332
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• 2002

In the process of designing pareto optimal insurance contract, it is necessary to assume that insurance contract conditions are endogenous to build a model. The expected utility, the non-expected utility and the state-dependent utility function can be applied as a insurance decision making principle. The insurance costs may have the linear, convex, and concave ralationship with the indemnity schedule. However, the sunk cost and fixed cost must be recognized. The deductible which decides whether an insurance contract to be a full or partial insurance contract can exist in the forms of straight deductible or diminishing deductible. Indeciding the level of deductible, the types of the insurance and the risks to be insured should be the deciding factors. Especially for recall insurance, there is relatively high chance that the recalling company being bankrupt. Therefore, the possibility of bankrupcy should be the considering factor in deciding the policy limit. The existence of the incomplete market and uninsurable background risk should be understood as restricting conditions of the pareto-optimal insurance contract.

• Journal of the Korea institute for structural maintenance and inspection
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• v.22 no.3
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• pp.8-15
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• 2018

An experiment was carried out to evaluate the lateral torsional stability of a girder with respect to the location and magnitude of prestressing force. The test of evaluating the lateral displacement and stability of a girder could cause an unexpected result due to various parameters, such as material nonlinearity, initial geometric imperfections, prestressing force, and loading and support conditions. Therefore, a small model testing was programmed to control the various parameters and assess the lateral torsional stability with respect to the prestressing force. This study proposed and fabricated an experimental apparatus that can satisfy the loading and in-plane and out-of-plane support conditions and also contol the prestressing force. The result of the experiment showed that the lateral torsional stability increased when the prestressing force was applied in the bottom flange of the girder. As a result, this study proposed an analytical equation that can account for the effect of the prestressing force in the lateral torsional stability of a girder.

• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.213-226
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• 2005

Adverse selection is a heavily scrutinized subject within the financial intermediary industry. Consensus is reached regarding its effect on the loan interest rate. Despite the similar features of financial service offered by the credit card, we still have controversy regarding credit card interest rate on how is adverse selection incurred with the change of interest rate. Thus, this paper explores how does the adverse selection, if ever, take place and affect the credit card interest rate. Information asymmetry regarding the credit card users' type represented by the default probability is assumed. The users are assumed to be rational in that they want to minimize the per unit dollar expense associated with the commercial transaction and financing between the two typical payment methods, cash and credit card. Suppliers, i.e. credit card companies, would like to maximize their profit and would be better off with more pervasive use of credit cards over the cash. Then we could show that the increasing credit card interest rate is subject to the adverse selection, sharing the same tenet with that of the bank loan interest rate proposed by Stiglitz and Weiss. Hence the current theory predicts that credit card market also suffers from adverse selection with increasing interest rate.