• Journal of the Korean Home Economics Association
• /
• v.43 no.1 s.203
• /
• pp.85-103
• /
• 2005

This study attemped to analyze the financial stati of single households. The financial stati of single households were analyzed using the income and expense stati, balance sheet status and selected financial ratios as components. The data of 757 single household's from the 1998 Korean Household Panel Study were utilized. The major findings are summarized as follows; 1. Male single households had higher income and expense stati than those of females but lower holdings of other asset with the exception of liquid assets. Single elderly households had the highest holdings of both real assets and debt. 2. Usually single households were retained more short-term than long-term liquid assets. The debt burden ability in using net assets was the lowest of all assets. To accumulate capital those in single household were more likely to have savings than investment assets.

• Korean Journal of Rural Living Science
• /
• v.9 no.1
• /
• pp.43-54
• /
• 1998

This study attempted to investigate the factors affecting financial status of the rural middle-aged and old-aged household. The results shelved that the significant variables which influenced on the probability of financial security measured by consumption to income ratio were sex and education level of the household head, family size, total income, total expenditure and total assets. The most influential variables on the probability of financial security measured by liquidity ratio was liquid assets, and total assets. Education level of the household head. liquid assets, total assets, and total debt had significant effects on the probability of financial security estimated by debt burden ratio. Among the economic variables, only liquid asset had significant negative effects on the probability of financial security assessed by the capital stock ratio.

• 한국노년학
• /
• v.31 no.3
• /
• pp.573-590
• /
• 2011

This study analyzes the major factors affecting domestic middle-aged and elderly households' strength in consumption using the first and second wave of Korea Longitudinal Study of Ageing(KLoSA). First, household income and household liquid assets which are the strength in household consumption was analyzed and as a result, among various explaining variables, aged and elderly households with the higher education level and more household members, those in self-owned residence and in a state of labor and those which are the beneficiaries of special occupational pension scheme show relatively the same high level of strength in consumption. Then, the determining factor of household consumption was assumed based on the second wave of data and as a result, those with more yearly household disposable income and household liquid assets, those living in metropolitan cities with self-owned homes, those engaged in labor practice or which are the beneficiaries of special occupational pension scheme are more likely to have a relatively bigger contributory factor in increasing household consumption. By contrast, household's consumption decrease in the case of those with higher age, those who are the beneficiaries of national pension or those who are male.

• Journal of the Korean Home Economics Association
• /
• v.43 no.6 s.208
• /
• pp.113-131
• /
• 2005

The purpose of this study was to investigate older people's planning for estate distribution by examining the factors associated with their will-holding status. This study used data from the 1994 Assets and Health Dynamics among the Oldest Old (AHEAD) Survey, Wave One. The objectives of this study were (a) to establish profiles of older people who have a written will and to compare their financial portfolios across will-holding status; (b) to identify factors that influence the decision to make a will, and (c) to draw implications for family economists, financial educators, planners, and policy makers. The results suggested that a household's financial resources (i.e., liquid and illiquid assets, housing equity, and household income) positively influence the probability of having a will. Older people who resided in a community property state and who were in poor health were less likely to be will-holders than their counterparts, holding financial resources and other variables constant. Demographic characteristics such as age, education, and race, and behavioral characteristic also were significant determinants of the likelihood of having a will. Volunteer participation and charitable contribution, which are proxies for altruism, increased the likelihood of having a will. The probability of having a will also was higher among those who had life insurance and had gwen inter-vivos gifts of more than $\$5,000$ to their children or grandchildren in the past 10 years. On the other hand, the likelihood of having a will declined with increasing number of biological children. From the findings, implications for financial planners and educators were suggested along with directions for future research.

• The Journal of Industrial Distribution & Business
• /
• v.9 no.5
• /
• pp.63-72
• /
• 2018

Purpose - This work analyzes, in detail, the specification of vector error correction model (VECM) and thus examines the relationships and impact among seven economic variables for USA - balance on current account (BCA), index of stock (STOCK), gross domestic product (GDP), housing price indices (HOUSING), a measure of the money supply that includes total currency as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets (M3), real rate of interest (IR_REAL) and household credits (LOAN). In particular, we search for the main explanatory variables that have an effect on stock and real estate market, respectively and investigate the causal and dynamic associations between them. Research design, data, and methodology - We perform the time series vector error correction model to infer the dynamic relationships among seven variables above. This work employs the conventional augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root techniques to test for stationarity among seven variables under consideration, and Johansen cointegration test to specify the order or the number of cointegration relationship. Granger causality test is exploited to inspect for causal relationship and, at the same time, impulse response function and variance decomposition analysis are checked for both short-run and long-run association among the seven variables by EViews 9.0. The underlying model was analyzed by using 108 realizations from Q1 1990 to Q4 2016 for USA. Results - The results show that all the seven variables for USA have one unit root and they are cointegrated with at most five and three cointegrating equation for USA. The vector error correction model expresses a long-run relationship among variables. Both IR_REAL and M3 may influence real estate market, and GDP does stock market in USA. On the other hand, GDP, IR_REAL, M3, STOCK and LOAN may be considered as causal factors to affect real estate market. Conclusions - The findings indicate that both stock market and real estate market can be modelled as vector error correction specification for USA. In addition, we can detect causal relationships among variables and compare dynamic differences between countries in terms of stock market and real estate market.