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Why Does the Propensity to Home Ownership Vary?: Focusing on the Role of Borrowing Constraints
Get PDFThe propensity to own (rather than to rent) primary residence tends to vary across geographical areas, over time, and among consumer cohorts. This study investigates why that is the case by focusing on the role of borrowing constraints in residential mortgage lending in Korea. In particular, a discrete tenure choice model is established, based on which effects of both wealth and income constraints as indicated by the maximum loan-to-value (LTV) ratio and that of debt-to-income (DTI) ratio are estimated. Using the household-level micro data from Korea, we report that: the lending restrictions exhibit negative effects on the propensity to own, which are also shown to increase for younger borrower cohorts. Despite the fact that the residential mortgage lending sector of the country experienced a substantial growth during our study period (2006 to 2014), the effects of the wealth constraints increased over time, which we interpret as a possible outcome of the more binding lending restrictions combined with the location-based regulatory controls. Using the empirical findings, we provide a preliminary result of our analysis on the optimal LTV level by age cohort
Impact of public educational expenditure on poverty in China
Get PDFThesis(Master) --KDI School:Master of Public Policy,2019Over last four decades, more than 740 million people were lifted out of poverty in China. The Chinese government set the target to eliminate absolute poverty and remove all poor counties from the poverty list by 2020. In this context, the paper attempts to investigate the impact of government expenditure on education upon poverty in China, using province-level panel data during 1997-2017.
Poverty is measured by beneficiaries of social assistance programs, such as Minimum Living Guarantee System (in Chinese “Dibao”), Five Guarantee System (in Chinese “Wubao”) and Subsidies for destitute households (in Chinese “Te Kun Jiu Zhu”). The independent variable is “government appropriation for education”, which includes “public budgetary fund for education, taxes and fees collected by governments at all levels that are used for education purpose, enterprise appropriation for enterprise-run schools, income from school-run enterprises and social services that are used for education purpose and other national appropriations for education” (China Statistical Yearbook).
Using OLS fixed effects model, we found that: 1) government expenditure on education is significantly negatively related to headcount ratio; 2) private investment in education also contributes to poverty reduction and seems to be a possible way to improve education quality; 3) rural household net income is negatively related to poverty rate, while 4) urban population has two opposite results, which raises an interesting topic to study.I. INTRODUCTION
II. LITERATURE REVIEW
III. HYPOTHESIS STATEMENT
IV. DATA AND METHODOLOGY
V. RESULT AND DISCUSSION
VI. CONCLUSIONmasterpublishedJialu LIU
An Analysis on factors that affect academic achievement of international students
Get PDFThesis(Master) --KDI School:Master of Development Policy,2019As the world becomes globalized, there is an increasing number of the students studying abroad, especially in tertiary education. Many countries have encouraged universities to host more international students since it gives quality education and benefits on future careers to the students, and economic and cultural benefits to the host country, also contributes to promote exchanges and understanding among countries. However, international students face lots of problems as they have to deal with two tasks at the same time: adapting to unfamiliar environment and achieving an academic goal. In this regard, the government and universities in host country need to establish a policy to support international students. To give implications to host countries, this study investigated the factors affecting the academic achievement of international students in the degree program. This study set up the model and conducted a survey to verify the model. The results found that diversity of courses, school system, sharing information of school, local language skills and receptiveness of the local culture affect the academic performance of international students. Policy and managerial implications have been provided based on the research results, also some recommendations for future research.I. Introduction
II. Literature Review
III. Theoretical Foundation
IV. Hypotheses Development
V. Methodology
VI. Data Analysis
VII. ConclusionOutstandingmasterpublishedBomi SON
an explanatory embedded case study with three alliance airlines in East Asia
No full textThesis(Doctoral) --Auckland University of Technology:Department of Business Information Systems,2019doctoralpublishedDon Dong-hyun Lee
통화정책의 현재와 미래
No full text■ 수록 논문 요약
<제I부 통화정책 체계 : 물가안정과 금융안정>
■ 제1장 통화정책 체계에 대한 최근 논의 | 박광용·이은경
■ 제2장 통화정책과 거시건전성정책 간 관계 | 강종구
■ 제3장 가계부채 제약하의 통화정책 : 2주체 거시모형에서의 정량적 분석 | 정용승·송승주
■ 제4장 고정금리대출과 통화정책 유효성 | 박성호
<제Ⅱ부 자본유출입과 통화정책>
■ 제5장 통화정책이 자본유출입에 미치는 영향 : 행태방정식 분석 | 이명수·송승주
■ 제6장 한국 채권시장의 해외자본 유출입 결정요인 | 김수현
■ 제7장 외은지점을 통한 은행자본 유출입 : 한국의 사례 | 윤영진
<제Ⅲ부 통화정책 커뮤니케이션>
■ 제8장 중앙은행 신뢰도와 통화정책 | 박광용
■ 제9장 텍스트 마이닝을 활용한 금융통화위원회 의사록 분석 | 박기영·이영준·김수현
■ 제10장 텍스트 마이닝으로 측정한 통화정책 서프라이즈 | 이영준·김수현·박기영
■ 제11장 거시경제지표 공표가 옵션가격의 일중 내재변동성에 미치는 영향 | 이지은·류두진
<제Ⅳ부 통화정책의 미래 이슈>
■ 제12장 은행의 수익 및 자산구조를 반영한 통화정책 위험선호경로 | 김의진·정호성
■ 제13장 경제주체 다양성과 통화정책의 유효성 | 이대엽
■ 제14장 중앙은행 디지털화폐 발행이 금융안정에 미치는 영향 | 김영식·권오익
■ 제15장 통화정책과 소득불평등 | 박종
time series analysis
Get PDFThesis(Master) --KDI School:Master of Public Policy,2019Currently, the recovering US economy and the raising of protectionism have triggered external shock in several countries including Indonesia. Hence, this study aims to analyze the causalityIbetweenIthe exchangeIrate and theItradeIbalance in Indonesia, to measure and forecast the impact of the depreciation of the exchange rate and trade balance in Indonesia, and to identify ithe impact ofi depreciation of iexchange irate toward Indonesia’s export performance of manufactured, agricultural, and mining commodities. In accordance to achieve the objective of the study, this study use time series analysis. The findings show that the irelationship ibetween itrade ibalance iand iexchange irate in Indonesia is one-way; only ithe iexchange irate affects the trade balance in Indonesia. Furthermore, if there is a shock from the exchange rate, it iwill ilead to a decrease in itradeibalance by about 0.45 percent in 6 months. In the commodity level, agricultural commodity gets higher deterioration compared to manufactured, mining commodity will increase if there is depreciation of the exchange rate. Moreover, J-curve does not exist either at the aggregate level or commodity level in Indonesia.I. INTRODUCTION
II. LITERATURE REVIEW
III. DATA AND METHODOLOGY
IV. EMPIRICAL RESULT AND DISCUSSION
V. CONCLUSIONmasterpublishedKusuma Hani PUTRI