• KDI Journal of Economic Policy
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• v.32 no.1
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• pp.27-49
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• 2010

This paper provides insight into some important features of the intergenerational resource allocation in Korea, before and after the financial crisis in 1997-98. Data sets of three periods before and after the financial crisis (1996, 2000, and 2005) were used to compare the results. This research particularly addresses two related issues: i) the generational effects of economic crisis, and ii) the capacity of age reallocation systems to spread economic risks across generations. The results show tremendous consumption smoothing and resource reallocation by age, during and after the financial crisis. Private education and private health consumption decreased for children between 1996 and 2000. However, the decrease in private education and private health consumption was mitigated by the increase in public consumption. It appears that the public sector did not only mitigate the adverse impact of the economic crisis on consumption, but it also reduced the widening disparity amongst generations. Within transfers, the public transfers for the elderly increased substantially as the private transfers decreased rapidly. Finally, there was a big increase in the asset-based reallocation of the elderly. The increase in asset-based reallocation was mainly due to an increase in asset income between 1996 and 2000, but it was almost entirely due to a decrease in saving (i.e. an increase in dissaving) between 2000 and 2005. This suggests that Korean elderly seemed to have some degree of supporting system during the crisis, even without sufficient pension benefits. The increased reliance on asset accumulation will be critical in the long-run in Korea, as public pension funds diminish due to population aging.

• Journal of Information Technology Applications and Management
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• v.18 no.1
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• pp.75-100
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• 2011

For decades, thousands of corporation introduced knowledge management systems to respond knowledge-based society. However, it seems that the systems merely focusing on knowledge accumulation and its sharing have been bounded by many restrictions in terms of new knowledge creation based on the life cycle of knowledge management systems. Moreover, recently, a variety of knowledge management activities regarding organization, systems, and process is emphasized as a strategic asset for a corporation to create core knowledge. Therefore, this study adopted the Csikszentmihalyi's flow theory to investigate the factors affecting knowledge creation and the success factors of knowledge management systems in virtual space. Prior studies argued that flow experience should be a prerequisite for creative knowledge creation. In that vein, this research revealed the causal relationships for flow experience between the determinants of clear goal, immediate feedback, congruence of challenge and skill. Additionally, it empirically examined how flow experience affected the exploratory behavior of knowledge creation.

• Journal of vocational education research
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• v.37 no.4
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• pp.45-66
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• 2018

The purpose of this study is to explore the factors affecting the social capital of youth and to draw implications for the policies related to development of the social capital of them. To this end, we utilized the OLS regression model and the quantile regression model exploiting the 12th year dataset of the Korean Education & Employment Panel(KEEP). First, this study shows that the effect on trust is higher than that of the counterpart when the case is a) unmarried, b) with the high level of education, c) with a large asset, d) with high self-respect and the satisfaction for financial situation, and e) social media user. On the other hand, the higher the monthly average income, the lower the trust level. In addition, when the cases are grouped into 25 quantile, 50 quantile, and 75 quantile according to the level of trust, it is revealed empirically that the factors affecting social capital formation are somewhat different. Second, this study also shows that the effect is higher in a specific condition. The effect is higher compared to the counterpart when the case is a) male, b) with children, c) metropolitan city resident, d) non-employee, e) with a large asset, f) with high level of happiness, g) with high expense of purchasing books, and h) social media user. As a result, it is found that there are no personal characteristics that have statistically significant influence on students belonging to the 25th quantile of social capital. This study suggests that, in order to support the formation of social capital of Korean youths, it is necessary to enhance their psychological satisfaction and to provide cultural support or policies. In addition, it suggests that a tailored social capital accumulation program is needed according to the level of social capital, and the support for this need to be changed according to the amount of social capital of young people.

• The Korean Journal of Financial Management
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• v.6 no.1
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• pp.31-62
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• 1989

By using deterministic dynamic models, we observe the behavior of the foreign exchange rate of a small open economy with rational expectation formation and different restrictions on the international economic integrations. First, an economy connected to the world by purchasing power parity and uncovered interest parity is studied in the next section. In both sections, financial assets available in the economy are domestic money and bonds. Stocks are added as a financial instrument in the next section, and real capital accumulation is also taken into account. Furthermore, the economy concerned there is fairly autonomous, and not directly governed by either purchasing power parity or uncovered interest parity. The expectation formation used throughout the whole paper is complete perfect foresight, which is the certainty version of rational expectation and free from any forecast errors. It is found that upon monetary expansion the short run depreciation of the foreign exchange rate is a fairly robust result regardless of the degree of the international economic integration, while it is not true for fiscal expansion. The expectation on the long run state significantly affects the short run response of the exchange rate. All of our models postulate that the current account should be balanced eventually. As the result, the short run behavior of the exchange rate is affected by the expectation on the long run balance and may well be a blend of the traditional flow view and modem asset view. The initial overshooting of the exchange rate is easily observed even in the fairly autonomous economy Furthermore, the initial overshooting is not reduced over time, but augmented for some time before it is eventually eliminated. As long as we maintain rational expectaion, introducing time delay in the adjustment of the foreign goods price to the foreign exchange rate does not make much difference.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.34 no.4
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• pp.98-109
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• 2016

The purpose of this study is to identify characteristics of spatial structure of Jiangnan water town in China which has been developed along the water channel. Spatial structural characteristics of the water town, Wuzhen and Nanxun in Zhejiang Province are as follows. First, location of town, spatial framework, lot division, and architectural style get determined by the water channel. The water channel is constructed in cross shape, T-shape, or in combination. Secondly, public space of water town is established along main water channel. Visually and functionally alternating private buildings are established on the water channel side and they are creating unique landscape of Jiangnan water town in overall harmony. Thirdly, residential area is established on the east-west water channel side with southward sunny-faced arrangement and waterside residence is in introvert spatial structure with courtyard but the exterior space is connected with water channel intimately. Fourthly, various spatial components along the water channel enrich the sense of place in water town. The components are corridor with roof, tea house, waterside steps, waterside theater and watergate etc. Uniqueness of place is becoming the core competence in modern townscape. In this aspect, Jiangnan water town with historical and cultural accumulation is suggesting a significant implication. Major implications are as follows. First, promotion of proximity to the water is the basic value that the spatial plan of waterfront needs to pursue. Secondly, mixed use is essential for effective land use and revitalization of waterfront. Thirdly, waterfront plan based on the local uniqueness as the place asset is being required.