• Environmental and Resource Economics Review
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• v.16 no.1
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• pp.27-63
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• 2007

Using the CGE model, this paper investigates economic impacts of a shortage in crude oil resulting from voluntary export restraints, OPEC's agreement of a cut in oil production, and/or a storing on speculation. Unlike most previous studies considering oil price as the unpredictable variable, this study constructs the model to determine the oil price endogenously under the condition of an insufficient supply of crude oil. According to IEA's extraordinary steps for a shortage of crude oil, we investigate an economic impact of 7~12% shortage below the level of business as usual. The results show that oil price soars by 17.3~33.5%, the rate of economic growth falls by 0.52~0.96%p, and the consumer price index(CPI) rises by 0.8~1.51%p. These results imply that increasing in 1%p of oil price results in decreasing in 0.03%p of economic growth and increasing in 0.045%p of consumer price index. The production of electricity declines because of the increase in production cost. A shortage of crude oil has an effect on sources of electricity. Most reduction in electricity generation occurs from the reduction in the thermal power generation which is highly dependent on crude oil. The shortage of crude oil causes demand for petroleum to significantly decline but demand for coal and heat to increase because of the substitution effect with petroleum. Demand for gas rise in the first year but falls from the second year.

• Asia Marketing Journal
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• v.9 no.1
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• pp.23-41
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• 2007

The current study analyzed the relationship between expression type of humor ads and their advertising effects and the differences in advertising effects by expression type according to temperament as categorized by the Myers-Briggs Type Indicator (MBTI). Expression type of humor was classified into arousal-, incongruity-, and superiority-type humor ads. Advertising effects were measured by consumers' cognitive, affective, and conative responses. Three ads were created based on expression type of humor. A personality type, as measured by the MBTI, was categorized into four types of temperament, namely SP, SJ, NF, NT and used as moderating variables. As a result, the advertising effects varied according to the expression type of humor advertising. Interaction effects between ad expression type and temperament on ad feeling and ad preference were also found.