• 프린팅코리아
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• v.13 no.2
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• pp.66-67
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• 2014

원화강세가 인쇄물 수출에도 영향을 미치고 있다. 환율하락으로 수출물가가 하락하고 있는데, 이는 6년 사이 최저 수준을 기록했다. 특히 환율이 급등과 급락을 오가는 사이 환율에 대한 대비가 거의 없는 중소 인쇄사의 경우 그 피해를 고스란히 입고 있다. 환율 변동에 따른 피해를 줄이기 위해 한국무역보험공사에서는 환변동보험을 통해 중소기업의 환율변동의 불확실성에 대한 위험을 대비할 수 있는 상품을 제공하고 있다.

• KDI Journal of Economic Policy
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• v.31 no.2
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• pp.235-266
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• 2009

This paper investigates changes in the extent of exchange rate pass-through to export price in Korea. First, empirical results show that export prices have become less responsive to the exchange rate since the financial crisis in 1997. The decline of exchange rate pass-through to export prices suggests that Korean exporters are more likely to use profit margins to absorb part of the impact of exchange rate changes, consistent with pricing to market phenomenon. Second, this paper finds asymmetries in the response of export prices to exchange rate changes. In the post-crisis period. appreciations are more likely to be offset by markup adjustment than depreciations. Third, this paper documents that a significant portion of the decline of exchange rate pass-through is a result of both increased volatility of exchange rate and increased competition with China in the world market.

• 베이커리
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• no.2 s.367
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• pp.130-132
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• 1999

• International Area Studies Review
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• v.20 no.1
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• pp.3-22
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• 2016

In this study, I examine mutual shock spillover effects among interest rate differences, won-dollar foreign exchange change rates, and stock market returns in Korea during the daily sample period from the beginning of 1995 to the October 16, 2015, using the multivariate GARCH (generalized autoregressive conditional heteroscedasticity) BEKK (Baba-Engle-Kraft-Kroner) model framework. Major findings are as follows. Throughout the 6 model estimation results of variance equations determining return spillovers covered from symmetric and asymmetric models of total sample period and two crisis sub-sample periods composed of Korean FX Crisis Times and Global Financial Crisis Times, shock spillovers are shown to exist mainly from stock market return shocks. Stock market shocks including down-shocks from the asymmetric models are shown to transfer to those other two markets most successfully. Therefore it is most important to maintain stable financial markets that a policy design for stock market stabilization such as mitigating stock market volatility.

• 프린팅코리아
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• v.8 no.2
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• pp.64-67
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• 2009

환율이 급등한 지난해에 이어 해가 바뀐 2009년에도 외환시장의 유동성은 여전히 안정을 찾지 못하고 있다. 세계적인 경기 불황의 여파가 본격적으로 닥쳐오면서 수출 증가율이 두 자리 수의 마이너스 성장으로 전환되는가 하면 지난해 4/4분기의 성장률이 마이너스 성장으로 추정된다는 주장과 분석이 잇따르고 있다. 이런 상황 속에서 우려를 더하는 것은 외환시장의 유동성이 줄어들지 않는다는 점이다. 이미 지난해에 달러화 및 엔화, 유로화 등의 주요 통화들에 대한 원화의 가치가 최소 $30%{\sim}100%$에 가깝게 급격한 하락을 기록한 만큼 더 이상 대폭적인 하락을 보일 확률은 현실적으로 낮은 것으로 전망되고 있다. 그러나 유동성이 문제가 되고 있다. 희망 섞인 전망대로 환율이 조금씩 낮아지는 것이 최상의 결과이지만 연초부터 환율은 기대와 달리 $1300{\sim}1400$원 대에서 움직이고 있다. 이에 따라 인쇄업계와 관련업계도 지난해에 이어 지속되는 환율변동에 어떻게 효과적으로 할 것인가에 대해 전력을 기울이며 대응 방안에 골몰하고 있다. 인쇄업계와 관련 업계가 부문별로 처한 상황이 조금씩은 다르기 때문에 긴박감이나 대응강도가 다를 수도 있지만 올 한 해 동안의 경영에 환율 부문은 큰 영향을 줄 것만은 분명할 것으로 예상된다. 환율과 관련된 업계의 대응과 마케팅에 대해 알아본다.

• Proceedings of the Safety Management and Science Conference
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• 2006.11a
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• pp.455-460
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• 2006

• Proceedings of the Safety Management and Science Conference
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• 2006.11a
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• pp.461-475
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• 2006

• Journal of the Korean Regional Science Association
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• v.32 no.1
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• pp.27-49
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• 2016

This study examines the effects of real exchange rate (RER) depreciation shocks on firm-level productivity and employment in Daegu-Gyeongbuk manufacturing industries during 2006-2012. In particular, the study focuses on a sharp and persistent RER depreciation of the Korean Won from 2007 to 2009, which is a situation akin to a natural experiment in Korea. We find that RER depreciation has positive effects on productivity for firms with high export exposure in foreign markets. However, these effects disappear when RER depreciation persists. In addition, we do not find evidence that RER depreciation affects employment of Daegu-Gyeongbuk firms significantly. Firms in Daegu-Gyeongbuk region should pursue core competency to obtain international competitiveness rather than depending on temporary better price condition driven by RER depreciation. Further, policy makers in a local government should provide firms with financial and investment support to encourage innovation and R&D.

• The Magazine for Energy Service Companies
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• s.38
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• pp.68-69
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• 2006

• Korea Trade Review
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• v.48 no.4
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• pp.47-66
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• 2023

Our study aims to explore the impact of China's foreign trade policy measures on the real exchange rate movement. We seek to provide specific references for the formulation of exchange rate and trade-related strategies. Our results indicate that China's bilateral trade is significantly influenced by movements in the Real Effective Exchange Rate (RER). When analyzing the relationship between aggregated trade flow and exchange rate movements, this paper finds that the depreciation of the real exchange rate leads to an increase in China's export volume and a slight decrease in its import volume. Moreover, China's export volume exhibits higher sensitivity to exchange rate volatility compared to the exchange rate level. Furthermore, the empirical findings regarding disaggregated trade flow suggest that different goods are affected differently by exchange rate movements. Capital goods and consumer goods, being in different stages of processing, show no negative impact on their import and export due to exchange rate depreciation. Consequently, we recommend deepening the industry's reform by improving production efficiency and transitioning the industrial structure to a higher processing stage. This approach can effectively reduce the negative impact of exchange rate depreciation.