• KDI Journal of Economic Policy
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• v.33 no.2
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• pp.111-143
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• 2011

As the 'jobless growth' is developing into a worldwide phenomenon, many countries try to recover a virtuous relationship between the growth and employment using various wage subsidy programs. This study focuses on wage subsidy to employers, labor demand-side wage subsidy for which one can think of two types-a tax credit(a flat wage subsidy) and a social insurance premium exemption(a proportional wage subsidy). For job creation, Korean government reintroduced a tax credit to small and medium-sized enterprises(SMEs) which have increased their employment level in 2010. But many experts has continuously insisted that it should be replaced with a social insurance premium exemption arguing only a few SMEs benefit from the tax credit as most of them are actually not paying any corporate or general income tax bills. However, as the insurance premium exemption accompanies an increase in the amount of budget with the coverage widen, one cannot confirm its cost effectiveness over the tax credit. This paper aims to provide a theoretical analysis to derive some formal conditions under which a social insurance premium exemption creates more jobs than a tax credit does given a budget constraint. We show that the former's dominance over the latter depends on whether there exists a dead zone of social insurance or not. If there does not exist a dead zone, a social insurance premium exemption is more desirable in many cases, whereas one cannot guarantees its dominance over a tax credit if there exists a dead zone. Therefore in order to realize its dominance, the government should minimize a dead zone so that most SMEs effectively benefit from the insurance premium exemption. In addition, applying discriminative exemption rates which reflect each firm's job conditions such as wage level and labor demand/supply sensitivity, the government try to enhance job creation effect.

• Progress in Superconductivity and Cryogenics
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• v.15 no.2
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• pp.34-38
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• 2013

AC Losses for face to face stacks of four identical coated conductors (CCs) were numerically calculated using the H-formulation combined with the E-J power law and the Kim model. The motive sample was the face to face stack of four 2 mm-wide CC tapes with 2 ${\mu}m$ thick superconducting layer of which the critical current density, $J_c$, was $2.16{\times}10^6A/cm^2$ on IBAD-MgO template, which was suggested for the mitigation of ac loss as a round shaped wire by Korea Electrotechnology Research Institute. For the calculation the cross section of the stack was simply modeled as vertically aligned 4 rectangles of superconducting (SC) layers with $E=E_o(J(x,y,t)/J_c(B))^n$ in x-y plane where $E_o$ was $10^{-6}$ V/cm, $J_c$(B) was the field dependence of current density and n was 21. The field dependence of the critical current of the sample measured in four-probe method was employed for $J_c$(B) in the equation. The model was implemented in the finite element method program by commercial software. The ac loss properties for the stacks were compared with those of single 4 cm-wide SC layers with the same critical current density or the same critical current. The constraint for the simulation was imposed in two different ways that the total current of the stack obtained by integrating J(x,y,t) over the cross sections was the same as that of the applied transport current: one is that one fourth of the external current was enforced to flow through each SC. In this case, the ac loss values for the stacks were lower than those of single wide SC layer. This mitigation of the loss is attributed to the reduction of the normal component of the magnetic field near the SC layers due to the strong expulsion of the magnetic field by the enforced transport current. On the contrary, for the other case of no such enforcement, the ac loss values were greater than those of single 4cm-wide SC layer and. In this case, the phase difference of the current flowing through the inner and the outer SC layers of the stack was observed as the transport current was increased, which was a cause of the abrupt increase of ac loss for higher transport current.

• The Journal of the Korea Contents Association
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• v.13 no.1
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• pp.456-466
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• 2013

The most important thing to develop real estate asset would be a feasibility study. To secure feasibility of development projects, reducing and minimizing the cost of land and construction also would be the important thing. To analyze optimal land-value for real estate development projects, I have collected 204 balance sheets of development projects in South Korea. With the help of statistical technology, I could have selected useful data from those balance sheets. After detailed analysis of statistical data, I could have reached conclusion that the most important factor to earning rate would be land cost per unit ground area under the constraint of given sale price. So far the main pattern of feasibility study of development projects was land cost and construction cost. However, by this study, I have found a new fact that construction cost has little effect to earning rate and land cost per unit ground area is the most effect to earning rate especially in residential facilities rather than commercial ones.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.41 no.5
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• pp.546-554
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• 2016

Free-viewpoint video (FVV) is a synthesization technology that generates a virtual viewpoint video using multiple videos recorded via wireless devices at heterogeneous locations. In order to introduce a new service that grafts the FVV onto the real-time streaming service using wireless devices, we need to overcome several constraints. Two main factors of those constraints are the limited wireless capacity that are shared fairly by multiple devices, and the transmission time constraint with which live streaming services have to comply. Therefore, for optimal quality of entire videos, a set of transmitting devices should be effectively selected depending on the condition of wireless channel and the required video popularity of specific viewpoint requested from users. For optimal selection, this study proposes a heuristic algorithm that takes into account the aforementioned factors from possible wireless transmission error behaviors and the requested viewpoint popularity. Through analysis and simulation, we show that with this algorithm, quality of most popular viewpoint videos is guaranteed. Furthermore, performance comparison against the existing scheme which is based only on the location of recording devices is made.

• Journal of Distribution Science
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• v.13 no.5
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• The Korean Journal of Applied Statistics
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• v.33 no.3
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• pp.335-345
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• 2020

This paper deals with the problem of estimating the log-transformed linear regression model to fit actual battle data from the Ardennes Campaign of World War II into the Lanchester model. The problem of determining a global solution for parameters and multicollinearity problems are identified and modified by examining the results of previous studies on data. The least squares method requires attention because a local solution can be found rather than a global solution if considering a specific constraint or a limited candidate group. The method of exploring this multicollinearity problem can be confirmed by a statistic known as a variance inflation factor. Therefore, the Lanchester model is simplified to avoid these problems, and the combat power attrition rate model was proposed which is statistically significant and easy to explain. When fitting the model, the dependence problem between the data has occurred due to autocorrelation. Matters that might be underestimated or overestimated were resolved by the Cochrane-Orcutt method as well as guaranteeing independence and normality.

• Journal of Korean Society of Transportation
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• v.21 no.2
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• pp.71-82
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• 2003

The shortest path problems(SPP) are critical issues in the military logistics such as the simulation of the War-Game. However, the existing SPP has two major drawbacks, one is its accuracy of solution and the other is for only one solution with focused on just link cost in the military transportation planning models. In addition, very few previous studies have been examined for the multi-shortest path problems without considering link capacity reflecting the military characteristics. In order to overcome these drawbacks, it is necessary to apply the multi-shortest paths algorithm reflecting un-expected military incidents. This study examines the multi-shortest paths in the real networks using Shier algorithm. The network contains both military link capacity and time-based cost. Also, the modes are defined as a platoon(group) rather than unit which is used in most of previous studies in the military logistics. To verify the algorithm applied in this study. the comparative analysis was performed with various sizes and routes of network which compares with Dijkstra algorithm. The major findings of this study are as follows ; 1) Regarding the unique characteristics of the military transportation plan, Shier algorithm, which is applied to this study, is more realistic than Dijkstra algorithm. Also, the time based concept is more applicable than the distance based model in the military logistics. 2) Based on the results from the various simulations of this study the capacity-constraint sections appeared in each scenarios. As a consequence, the alternatives are necessary such as measures for vulnerable area, improvement of vehicle(mode), and reflection of separated-marching column in the military manuals. Finally. the limits and future research directions are discussed : 1) It is very hard to compare the results found in this study. which is used in the real network and the previous studies which is used in arbitrary network. 2) In order to reflect the real military situations such as heavy tanks and heavy equipment vehicles. the other constraints such as the safety load of bridges and/or the height of tunnels should be considered for the future studies.

• Journal of the Korea Society of Computer and Information
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• v.15 no.4
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• pp.83-90
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• 2010

In wireless sensor networks, the data transmitted from the sensor nodes are susceptible to corruption by errors which caused of noisy channels and other factors. In view of the severe energy constraint in Sensor Networks, it is important to use the error control scheme of the energy efficiently. In this paper, we presented RS (Reed-Solomon) codes in terms of their BER performance and power consumption. RS codes work by adding extra redundancy to the data. The encoded data can be stored or transmitted. It could have errors introduced, when the encoded data is recovered. The added redundancy allows a decoder to detect which parts of the received data is corrupted, and corrects them. The number of errors which are able to be corrected by RS code can determine by added redundancy. The results of experiment validate the performance of proposed method to provide high degree of reliability in low-power communication. We could predict the lifetime of RS codes which transmitted at 32 byte a 1 minutes. RS(15, 13), RS(31, 27), RS(63, 57), RS(127,115), and RS(255,239) can keep the days of 173.7, 169.1, 163.9, 150.7, and 149.7 respectively. The evaluation based on packet reception ratio (PRR) indicates that the RS(255,239) extends a sensor node's communication range by up about 3 miters.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.1-36
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• 2005

In this study, we analyzed determinant factors of leverage ratio and debt maturity for Korean firms in the simultaneous equation system using 2SLS (two stage least square) method under assumption that two variables are jointly determined in the capital structure decision. As a result of the analysis, we found that leverage ratio and debt maturity are positively related. Also, as for determinant factors of debt maturity, agency cost hypothesis, asset maturity matching hypothesis, signalling and liquidity risk hypothesis are all generally supported, and further leverage ratio are significantly positively related with firm size, but negatively related with default risk. However, when we divided samples into groups according to bank debt level and Chaebul affiliation, with contrast to existing study which worked on similar issues with OLS, we found no evidence supporting the argument that the information asymmetry problem is less severe in firms with more bank debt, whereas information asymmetry and financial constraint problems are more severe in non-Chaebul affiliated firms.

• Journal of the Computational Structural Engineering Institute of Korea
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• v.29 no.6
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• pp.563-569
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• 2016

This paper presents the resizing method of columns and beams that considers column-to-beam strength ratios to simultaneously control the initial stiffness and ductility of steel moment frames. The proposed method minimizes the top-floor displacement of a structure while satisfying the constraint conditions with respect to the total structural weight and column-to-beam strength ratios. The design variable considered in this method is the sectional area of structural members, and the sequential quadratic programming(SQP) technique is used to obtain optimal results from the problem formulation. The unit load method is applied to determine the displacement participation factor of each member for the top floor lateral displacement; based on this, the sectional area of each member undergoes a resizing process to minimize the top-floor lateral displacement. Resizing members by using the displacement participation factor of each member leads to increasing the initial stiffness of the structure. Additionally, the proposed method enables the ductility control of a structure by adjusting the column-to-beam strength ratio. The applicability of the proposed optimal drift design method is validated by applying it to the steel moment frame example. As a result, it is confirmed that the initial stiffness and ductility could be controlled by the proposed method without the repetitive structural analysis and the increment of structural weights.