Impact of Renewable Energy on Economic Growth and Carbon Emissions: Focusing on OECD Member Countries
Young-Jin Nam
This study analyzed the effect of renewable energy on carbon
emissions and economic growth, considering that the transition to
eco-friendly energy and sustainable economic growth is emerging
as important topics. In particular, the impact of the expansion of
renewable energy on carbon emissions and economic growth was
analyzed. For the analysis, the relationship between renewable
energy and economic growth was examined from the perspective of
production functions, and the relationship between renewable
energy and carbon emissions was based on the STIRPAT model.
PMG estimation was used as the estimation method. The analysis
target countries were OECD members, and in detail, the
sub-groups were divided into all OECD member countries, ETS
implementing countries among OECD member countries, and
European and non-European countries among OECD member
countries. The analysis period was from 1995 to 2018, and in the
case of ETS implementing countries, it was from the start of 2005
when EU-ETS was introduced. As a result of the analysis, it was
found that renewable energy had a positive effect on economic
growth and a negative effect on carbon emissions. However, it was
found that renewable energy did not have a significant effect on
economic growth in non-European countries among OECD
countries. In conclusion, it is necessary to expand renewable
energy in that it has been confirmed that renewable energy is
effective in economic growth and reducing carbon emissions in
OECD member countries, which can be said to be a group of
developed countries. In addition, non-European countries among
OECD member countries will need to reorganize their industrial
structures so that renewable energy can help economic growth.
Post-contract Performance Evaluation: Analysis of Factors Related to Free Agency in the Korean Professional Baseball
Joo Yeon Sun
This study examines factors affecting player performance after
signing a new multi-year free agent contract in the Korean
professional baseball. Various baseball performance measures are
analyzed for players who signed a contract from 2013 to 2018. The
signed contract length does not affect player performance. A player
signing a second contract is productive enough. Players who move
between teams as free agents perform better. The player¡¯s age is the
most significant determinant of performance. Player performance in
following years after a new contract is positively associated with a
substantial signing bonus.
The Relationship between Real Estate Price Fluctuations and Economic Inequality - Focusing on Asset and Income Inequality
JungJae Park, SeungHoon Lee, ?Eunmyung Tak
To analyze recent housing price increases¡¯ impact on asset and
income inequality in Korea, we conducted a comprehensive
empirical study using microdata from Statistics Korea¡¯s Household
Finance and Welfare Survey, segmented by region. We observed
varied trends in housing price increases across regions, driven by
different factors. While supply shortages were the main driver in
most regions, in Chungcheong, rising demand played a
predominant role. Through regression analysis controlling for
household characteristics, our research identified that during
housing price surges, the disparity in assets between households
owning and not owning homes widened significantly, contributing
to increased interregional household asset inequality.
Unintended Demand Diversion to Online Shopping: The Mandatory Supermarket Closing Day Regulation in South Korea
Jong Jae Lee
The Distribution Industry Development Act in South Korea requires
supermarkets to take two self-enforced days of closing every month
to divert the demand from supermarkets to traditional markets
nearby. This paper studies when and how this demand diversion
occurs in a modified Hotelling model that includes an online shop.
We show that the intended demand diversion does not occur, but
traditional bazaar shops benefit indirectly from the policy because
an unintended demand diversion from online shops occurs.
Moreover, we show that a relatively larger market share of online
shops to supermarkets predicts a larger demand diversion to the
traditional bazaar.