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4 차 례 유가변동에대한거시경제의반응 : 도입단가와국제현물유가의차이를중심으로김영덕 1 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures Young-Seok Moon & Dal-Sok Lee 31 Does Credit Transfer Reduce Emission Transfer? Hojeong Park & Gyeong-Lyeob Cho 47 Total factor Productivity Comparison in the Energy Intensive Manufacturing Industries across Selected OECD Countries Euy-Seok Yang 71 외국인직접투자를통한기술파급박창수 115 정책연구교통세의휘발유수요에대한영향분석이성근 133 열병합발전의비용배분에관한연구윤원철

5 유가변동에대한거시경제의반응 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

6 김영덕 - 2 -

7 유가변동에대한거시경제의반응 - 3 -

8 김영덕 A (L )y = A (L ) L n n y n 1 n 1 n y (t s ) (t ) - 4 -

9 유가변동에대한거시경제의반응 A 0 = A (0 ) A 0 A 0 y = A 0 (L )y + A 0 y = B (L)y + u A 0 B(L) = A 1 0 A 0 (L ) A 0 u = u y (t s ) u (t) B(L ) - 5 -

10 김영덕 A 0 A 0 B(L ) A 0 A 0 A 0 A 0 A 0 A 0 B(L ) u u A 0 A 0 B(L ) A 0 A 0 A 0-6 -

11 유가변동에대한거시경제의반응 A 0 A 0-7 -

12 김영덕 - 8 -

13 유가변동에대한거시경제의반응 - 9 -

14 김영덕 L B(L ) u A 0 A 0 A

15 유가변동에대한거시경제의반응 a a 31 a a a 41 a 42 a 43 1 a a 51 a a 59 a a 72 a a 78 0 a 81 0 a 83 0 a 85 0 a 87 1 a 89 a 91 a 92 a 93 a 94 a 95 a 96 a 97 a 98 1 u oil u ip u cpi u e u ep u ff u m ur u exr = oil ip cpi e ep ff m r exr

16 김영덕 u oil = oil u ip = a 21 u oil + ip u oil ip a 21 u ff = a 61 u oil + ff

17 유가변동에대한거시경제의반응 u oil ff a 61 u ep = a 51 u oil a 52 u ip a 59 u exr + ep u oil u ip u ff u ff u exr ep

18 김영덕 u cpi = a 31 u oil a 32 u ip a 35 u ep + cpi u cpi u oil u ip u ep u ep cpi u ep cpi ep u oil u ip ep u e = a 41 u oil a 42 u ip a 43 u cpi a 45 u ep + e u cpi u ep e u oil u ip cpi ep

19 유가변동에대한거시경제의반응 u m = a 72 u ip a 73 u cpi a 78 u r + m u ip u cpi u ff ep u r = a 81 u oil a 83 u cpi a 85 u ep a 87 u m a 89 u exr + r u oil u ip u cpi u ff ep m u exr = a 91 u oil a 92 u ip a 93 u cpi a 94 u e a 95 u ep a 96 u ff a 97 u m a 98 u r + exr u oil u ip u cpi u ff e ep m r

20 김영덕

21 유가변동에대한거시경제의반응

22 김영덕

23 유가변동에대한거시경제의반응 a 21 a 31 a 32 a 35 a 41 a 42 a 43 a 45 a 51 a 52 a 59 a 61 a 72 a 73 a 78 a 81 a 83 a 85 a 87 a 89 a 91 a 92 a 93 a 94 a 95 a 96 a 97 a

24 김영덕 B(L ) A

25 유가변동에대한거시경제의반응

26 김영덕

27 유가변동에대한거시경제의반응

28 김영덕

29 유가변동에대한거시경제의반응

30 김영덕

31 유가변동에대한거시경제의반응

32 김영덕

33 유가변동에대한거시경제의반응

34 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

35 Young-Seok Moon & Dal-Sok Lee

36 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures

37 Young-Seok Moon & Dal-Sok Lee

38 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures $/bbl Europe-bound Asia-bound U.S.-bound

39 Young-Seok Moon & Dal-Sok Lee 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% U.S. W. Europe NE Asia Total World America Europe Middle East Africa Asa-Pacific Non Identified

40 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures p asia η = η asia europe p europe η = η asia us p europe

41 Young-Seok Moon & Dal-Sok Lee Thousand b/d

42 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures $/bbl Quality Difference & Transportation Cost Adjustment Factor $/bbl Quality Difference & Transportation Cost Adjustment Factor

43 Young-Seok Moon & Dal-Sok Lee 2.0 $/bbl Quality Difference Adjustment Factor

44 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures $/bbl

45 Young-Seok Moon & Dal-Sok Lee

46 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures

47 Young-Seok Moon & Dal-Sok Lee

48 On Asian Premium of Crude Oil: Causes, Patterns and Counter Measures

49 Young-Seok Moon & Dal-Sok Lee

50 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

51 Hojeong Park & Gyeong-Lyeob Cho

52 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives

53 Hojeong Park & Gyeong-Lyeob Cho

54 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives n s s n n s K h i (t) t i = 0, 1, 2 h i θ (t )M j (h i (t )) j = n, s θ (t ) h (t ) τ h (τ ) h 0 (τ ) > h 1 (τ ) > h 2 (τ ) h (t ) M j (h 0 (t )) > M j (h 1 (t ))

55 Hojeong Park & Gyeong-Lyeob Cho M j (h 0 (t )) M j (h 1 (t )) > M j (h 1 (t )) M j (h 2 (t )) θ (t ) dθ (t )=αθ(t )dt + σθ(t )dw α σ dw E(dw)=0 Var(dw)=dt n s z dz(t ) dt = z = e n (t )+e i s (t )+E (t ) z (t ) e n (t ) es i (t ) E (t ) n s n s E (t ) i τ e 0 s (τ ) e 1 s (τ ) h 0 (τ ) h 1 (τ ) e s (t ) h (t ) D j (z (t )) j = n, s z (t )

56 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives n n C n (q 0 n (t )) q 0 n (t ) n C n (q 0 n (t )) q 0 n (t ) s n n s n n s q 0 n (τ ) q 1 n (τ ) q 1 n (τ ) q 0 n (τ ) e 01 s (τ )=e 0 s (τ ) e 1 s (τ ) qn 1 (τ ) qn 0 (τ )= es 01 (τ ) q 1 n (τ ) q 0 n (τ ) < e 01 s (τ ) C n = C n (q 0 n (τ )) C n (q 1 n (τ )) > 0 r n

57 Hojeong Park & Gyeong-Lyeob Cho V n = maxe 0 0 (Dn (z)+θm n (h )+C n (q 0 n ))e rt dt [ K C n (q 0 ] n (τ n )) + C n (qn 1 (τ n )) e rτ n E 0 τ n n s V s = maxe 0 0 ( Ds (z )+θm s (h ) ) e rt dt Ke rτ s z Φ (θ n, θ s ) θ j j H (t ) j θ t t 0 H (t )= θ (t ),z(t), θ n (t ), θ s (t ) θ

58 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives t < τ j j t τ j θ NC j (τ j )

59 Hojeong Park & Gyeong-Lyeob Cho n s h n s s n s es 1 h 1 h n (t < τ s ) rv s = D s (z ) θm s ( h 1 ) +(e n + es 1 + E z )V s,z + αθv s,θ σ2 θ 2 V s,θθ (t τ s ) rv s = D s (z ) θm s ( h 2 ) +(e n + es 2 + E z )V s,z + αθv s,θ σ2 θ 2 V s,θθ

60 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives V s = D s (z ) r D s (z ) r θ e n + e 1 s + E (r α )λ θ M s (h 1 ) r α θ e n + e 2 s + E (r α )λ θ M s (h 2 ) r α + A sθ for θ < θ NC s K for θ θnc s λ = r + α =( 1/2) 1 ( ) 1 ( 2α/σ 2 ) 2 +8r/σ 2 > 1 2α/σ 2 + ( ) s A s θ A s V s θ < θ NC s V s θ θ NC s s = K es 12 1 (r α )λ θ NC 12 Ms + r α 1 A s = ( θ NC) 1 s es 12 (r α )λ 12 Ms + r α M 12 s = M s (h 1 ) M s (h 2 ) e 12 s = e 1 s e 2 s K σ / ( 1) n

61 Hojeong Park & Gyeong-Lyeob Cho V n = D n(z)+c n (q 0 n ) r D n(z)+c n (q 0 n ) r D n(z)+c n (q 0 n ) r θ e n+ es 0 + E (r α)λ θ M n(h 0 ) r α + A nθ for θ < θ NC n θ e n+ es 1 + E (r α)λ θ M n(h 1 ) r α + B nθ K for θ θ e n+ es 2 + E (r α)λ θ M n(h 2 ) K for θ θnc s r α θ NC n,θ NC s C n (q 01 n )=C n (q 0 n ) C n (q 1 n ) q n θ n h n h n A n θ B n θ n s θ NC s B n θ NC n e 12 B n = ( θ NC 1 ) 12 s Mn s + (r α )λ r α n = K es 01 1 (r α )λ θ NC 01 Mn + r α 1 θ NC n < θ NC s Mn 01 > Ms 12 es 01 > es 12 Φ [θ NC n, θ NC s ]

62 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives n θ NC n s θ NC s n s / ( 1) σ σ =0 n σ =0 = K 01 s Mn + (r α )λ r α θ NC θ NC e 01 e 12 s = K 12 s Ms σ =0 + (r α )λ r α 1 1 / ( 1)> 1 θ NC j < σ =0 θnc j σ > 0 j = n, s K θ NC n θ NC s

63 Hojeong Park & Gyeong-Lyeob Cho n s h n n s q 0 n q 1 n D j (z ) M j (h ) z 0 h 0 V j z h Φ [θ C n1, θ C s2 ] Φ [θ C s1, θ C n2 ] θ C j1(θ C j2 ) Φ [θ C n1, θ C s2 ] n s Φ [θ C s1, θ C n2 ]

64 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives V C ns V C n1 Vs2 C n s Φ [θ C n1, θ C s2 ] V C ns (θ C n1, θ C s2 ) > V C sn(θ C s1, θ C n2 ) Φ [θ C s1, θ C n2 ] V C ns (θ C n1, θ C s2 ) < V C sn(θ C s1, θ C n2 ) Φ [θ C n1, θ C s2 ] Φ [θ C n1, θ C s2 ] Φ[θ C s1, θ C n2 ] D ns (z )=D n (z )+D s (z ) M ns (h j )=M n (h j )+M s (h j ) θ < θ C n1 V C ns = D n(z)+d s (z)+c n (q 0 n ) r θ(e n+es 0 +E) θ M n(h 0 )+M s (h 0 ) +A (r α)λ r α C 1θ θ C n1 θ < θ C s2 V C ns = D n ( z ) + D s ( z ) + C n ( q 0 r θ M n ( h 1 ) + M s ( h 1 ) r α n ) + B n θ K θ ( e n + e 1 s + E ) ( r α ) λ θ θ C s2 V n = D ns (z)+c n (q 0 n ) r θ(e n + e 2 s + E) (r α)λ θ M ns (h 2 ) r α (2K C 01 n )

65 Hojeong Park & Gyeong-Lyeob Cho s θ C s2 = ( K C 01 ) n 1 es 12 (r α )λ 12 Mn + Ms 12 + r α 1, A C 2 = ( θ C) 1 s2 es 12 (r α )λ 12 Mn + Ms 12 + r α. n θ C n1 = ( K C 01 ) n A C 1 = ( ) θ C n1 1 es 01 (r α )λ 01 Mn + Ms 01 + r α 1, 1 e s Mn + Ms A C 2 (r α )λ r α θ C n1 < θ C s2 es 01 > es 12 Mj 01 > Mj 12 j = n, s θ C n1 < θ NC n θ C s2 < θ NC s θ C n1 σ =0 θ C s2 σ =0 / ( 1) Vs2 C (θ ) < Vs NC θ > θ C n1 s

66 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives V NC s = D s (z ) r θ e n + es 1 + E (r α )λ θm s (h 1 ) r α + A s θ V NC s = D s (z ) r θ (e n + e 1 s + E ) (r α )λ θm s (h 1 ) r α + A C 2θ 1 θ < θ NC s θ C n1 θ < θ C s2 < θ NC s A s > A C 2 s A s A c 2 A s < A C 2 n s Φ [θ C n1, θ C s2 ] Φ [θ C s1, θ C n2 ] n s Φ [θ C s1, θ C n2 ] Φ [θ C n1, θ C s2 ] Φ [θ C n1, θ C s2 ] Φ [θ C s1, θ C n2 ] Φ [θ C n1, θ C s2 ] Φ [θ C s1, θ C n2 ] Φ [θ C n1, θ C s2 ] A C 2 = ( K C 01 1 ) e s 12 n ( r α ) λ + M n 12 + M s 12, r α A s = K 1 e s 12 (r α )λ + M s 12. r α > 1 A s < A C

67 Hojeong Park & Gyeong-Lyeob Cho Φ [θ C s1, θ C n2 ] n s n s θ < θ C V C = D ns (z )+C n (q 0 n ) r θ (e n + e 0 s + E ) (r α )λ θm ns (h 0 ) (r α ) + A C θ θ θ C V C = D ns (z )+C n (q 1 n ) r θ (e n + e 2 s + E ) (r α )λ θm ns (h 2 ) (r α ) (2K C 01 n ) θ C θ C = ( 2K C 01 ) n 1 es 02 (r α )λ 02 Mn + Ms 02 + r α A C = ( θ C) 1 e s Mn + Ms (r α )λ r α 1 A C > A C 1 Φ [θ C n1, θ C s2 ]

68 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives n s n s

69 Hojeong Park & Gyeong-Lyeob Cho

70 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives

71 Hojeong Park & Gyeong-Lyeob Cho θ<θ C s1 V sn C = D ns (z)+c n (q 0 r n ) θ(e n + es 0 + E) θm ns (h 0 ) + A (r α )λ r α 0 sθ θ C s1 θ < θ C n2 Vsn C = D ns (z)+c n (q 0 r n ) θ(e n + es 1 + E) θm ns (h 1 ) + A (r α )λ r α 1 nθ K θ θ C n2 V C sn = D ns (z)+c n (q 0 n ) r θ(e n + es 2 + E) θm ns (h 2 ) 2K + Cn (r α)λ r α 12 Φ [θ C s, θ C n ] θ C n2 = ( K C 12 ) n es 12 (r α )λ 12 Mn + Ms 12 + r α 1 θ C s1 = K 1 e s Mn + Ms 01 + (r α)λ r α θ C n2 > θ C s2 θ C s1 > θ C n1 Φ [θ C s1, θ C n2 ] 1 1. e 02 (θ C ) 1 02 s Mn + Ms 02 + (r α )λ r α e 12 e 01 > (θ C s ) 1 12 s Mn + Ms (θ (r α )λ r α C n1 ) 1 01 s Mn + Ms 01 + (r α )λ r α

72 Does Credit Transfer Reduce Emission Transfer?: Real Option Game Perspectives e 02 (2K Cn 01 ) 1 02 s Mn + Ms 02 + (r α)λ r α > (K C 01 n ) 1 e s Mn + Ms e s Mn + Ms 01 (r α)λ r α + (r α)λ r α ( 2K C 01 1 ) < ( K C 01 1 ) e 02 s = e 01 s + es 12 M 02 = M 01 + M 12 n n

73 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

74 Eui-Seok Yang

75 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

76 Eui-Seok Yang

77 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

78 Eui-Seok Yang

79 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries β σ

80 Eui-Seok Yang Y t = At F( Kt, Lt ) Yt L t K t F( ) Y / L F ( ) > Y / K FK ( ) > 0 Y / L F ( ) < 0 Y / K F ( ) < 0 LL L KK Y = t K Yt Y K Y t t t Y + t L K K Lt Y t Lt Lt + At At

81 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries K L s s At A t = Yt K s t Yt Kt Kt s L Lt t Lt TFP i t i Yt = i i α L + ( 1 α ) K i t i t α i

82 Eui-Seok Yang TFP TFP i t j s = i i [ α L t i j Yt / Ys i i j + (1 α ) K ]/[ α L t j s j + (1 α ) K j s ] j i At i A ln j A Y = ln Y i j i i / L K (1 α)ln j j / L K i / L j / L α

83 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries c d c d' s c' s i i y j = F ( x j ) i, j = c, d c c y c = F ( x c ) c c y d = F ( x d ) d yc d c y c = F ( x c ) y / y c c d c y / y d c d d

84 Eui-Seok Yang = n i l n n l n n i k n n k n i i l i i l i i i k i i k i kl kl X X W W X X W W Y Y R R Y Y R R TFP ) ln )(ln ( 2 1 ) ln )(ln ( 2 1 ) ln )(ln ( 2 1 ) ln )(ln ( 2 1 lnλ j i Y j i X j i R j W i.. = i l or k j = d d c c k k l l k k l l y y TFP d d c c d c cd σ σ σ σ = 1 1 s c d s c d d c cd k k l l y y TFP = 1

85 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries yi i li ki σ ( s j = + s) / 2 j s j TFP bd = TFPbc TFPcd TFP j x usa = y y j x j usa l l j j x σ x k k j x 1 σ x l l j usa j σ usa k k usa j 1 σ usa TFP j x usa j j yi j j li j k i

86 Eui-Seok Yang TFP x usa ρ x j ρusa j σ x 1 σ x σ usa N y y xj j l k l usa kusa j = y j yusaj lx kx l k = Π 1 1 σ usa TFPx usa k usa lusa yusa j σ usa = ( s usa + s) / 2 susa ρ ( j = r usa + r ) / 2 usa j j rusa j j yi

87 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries y cjt = Y / π cjt usa jt PPP cjt ycjt t j c Ycjt π usa jt π usa jt π jt = j t π usa jt π usa jt PPPcjt

88 Eui-Seok Yang PPPcjt PPPcjt PPPcjt

89 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries n 1 k cjt = ( 1 δ ) icj, t n kcjt t 1 δ δ < 1 δ = 0.15 icjt i cjt I ppp k = cjt / π ct t Icjt j th c k = i + (1 δ ) k cjt = i j, t 1 j, t 1 + (1 δ ) i j, t 1 j, t 2 + (1 δ ) i 2 j, t 3 τ (1 δ ) k k t 1 i τ cjt = ( 1 δ ) it (1+ i) + (1 δ ) kcj 1970 i= 0 j,1970 j τ = t s, t = 1980, s = 1979 i = 0 k 79 i cj 1980 = ( 1 δ ) i1980 (1+ i) + (1 δ ) kcj 1970 i= 0 k = i cj 1970 cj 1969 k 79 i cj 1980 = ( 1 δ ) i1980 (1+ i) + (1 δ ) icj 1969 i=

90 Eui-Seok Yang Icjt π t k ppp ct l = L k α l k k L log l = α k log lk k = 1 αk l l

91 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries 2 2 Inyc = αoc + α1 cinlc + α2cinkc + α3 c( Inlc ) + α4c( Inkc ) + α5 c( Inlc Inkc ) 1 c + α2c = 1 2α4 c + α5c = α 2α α = 3c + 5c 0 j sc Inyc / Inlc = α 1c + 2α 3cInlc + α5cinkc α5 2α = c 3c s c = α 1c + α5c ln( kc / lc) s ct = α + β ln( k / l ) + ε ct ct ct

92 Eui-Seok Yang ln( kct / lct ) sˆ ct = ˆ α + ˆ β ln( k ct / l ct ) ŝct sˆ ct = ˆ α + ˆ β ln( kct / lct ) ŝct ln( kct / lct ) ŝct

93 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries TFP j x usa.1990 = y y j x j usa.1990 l l j j x σ x k k j x 1 σ x l j σ usa usa.1990 j l k k usa.1990 j 1 σ usa TFP x usa.1990 N y xj = Π j = 1 y j l usa.1990 l ρ x j σ usa y yusaj kusa k j ρusa 1 σ usa j l l x σ x k k x 1 σ x

94 Eui-Seok Yang Figure 3.1 TFP Trends of OECD Countries Manufacturing Sector Aut Bel Can Fin Fra GBR Ita Kor Nld Nor Swe Usa

95 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

96 Eui-Seok Yang

97 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries Figure 3.2 TFP Trends of OECD Countries ISIC 35: Chemical and Fuel Products Figure 3.3 TFP Trends of OECD Countries ISIC 36: Other Non-Metallic Products Aut Bel Can Fin Fra GBR Ita Kor Nld Nor Swe Usa Aut Bel Can Fin Fra GBR Ita Kor Nld Nor Swe Usa

98 Eui-Seok Yang Figure 3.4 TFP Trends of OECD Countries ISIC 37: Basic Metals & Fabricated Products Aut Bel Can Fin Fra GBR Ita Kor Nld Nor Swe Usa

99 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

100 Eui-Seok Yang

101 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

102 Eui-Seok Yang

103 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

104 Eui-Seok Yang

105 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries β σ β σ β β

106 Eui-Seok Yang i A i, t ln A i, t γ i + λ lngi, t + ln Ai, t 1 + lnεi, t = A i, t TFP i, t i i γ λ εi, t G i, t i b lng i, t ˆ = ln Ai, t 1 i' s A ˆ = i, t A A i, t b, t ˆ A i, t ln ˆ A i, t = ln Ai, t ln Ab, t = ( γ i γ b) + (1 λ)ln A ˆ ˆ i, t 1 + lnεi, t β ln ˆ i, t = ln Ai, t ln A A b, t

107 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries ln ˆ A i, t i b ln Aˆ i, t 1) λ> 0 γ i = γ b λ = 0 Ai b A i 1 (1 λ) = T T ln Aˆ 1 + T T T s (1 ) ( ln ˆ i, 0 λ γ i γ b + ε i, s s= 0 ) ( γ i γ b) + λ(lngi, t lngb, t ) + (ln Ai, t 1 ln Ab, t 1) + (lnεi, t lnεb, t ) = = ( γ i γ b) + λ lng i, t + ln A ˆ i, t 1 + lnεi, t = ( γ i γ b) + (1 λ)ln A ˆ i, t 1 + lnεi, t ˆ ˆ ln Gb, = 0 t lng ˆ b, t = ln Ab, t 1 = ln( Ab, t 1 / Ab, t 1) ln Aˆ i, t 1 = ln Ai, t 1 ln Ab, t

108 Eui-Seok Yang 1980 ln( TFPi ) = α + β ln( TFP i ) + εi ln( TFPi ) / T ln( TFPi / TFPi ) = (1/ T )(lntfpi lntfpi ) TFPi m m m TFPi TFP i = TFPi / TFPusa λ 1 (1 λ) β = T T β β λ

109 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries β t 2 λ R β ' s λ' s 1980 ln( TFPi ) = α + β ln( TFP i ) + ε i ln( TFPi ) = (ln TFPi ln TFPi ) T T 1 (1 λ) β = T 2 R

110 Eui-Seok Yang σ σ ISIC 3: Manufacturing Sector ISIC 35: Chemical, Rubber, Plastics and Fuel Products ISIC 36: Other Non-Metallic Mineral Products ISIC 37: Basic Metals and Fabricated Metal Products

111 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries σ β σ β σ σ

112 Eui-Seok Yang

113 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

114 Eui-Seok Yang

115 Total Factor Productivity Comparison in the Energy Intensive Manufacturing Industries

116 Eui-Seok Yang

117 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

118 박창수

119 외국인직접투자를통한기술파급

120 박창수

121 외국인직접투자를통한기술파급

122 박창수 TFP it = α 0 +α 1 FDI ˆ it +α 2 EDU it + it it = µ i + η t + ξ it FDI ˆ

123 외국인직접투자를통한기술파급 TFP it = α 0 + α 1 FDI ˆ it + α 2 EDU it + α 3 OPEN it + α 4 IPR it + α 5 IPRsq it + it it = µ i + η t + ξ it 와

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134 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

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152 교통세의휘발유수요에대한영향분석

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154 교통세의휘발유수요에대한영향분석

155 에너지경제연구 제 2 권제 2 호에너지경제연구원 (Korea Energy Economics Institute: KEEI) , pp

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164 윤원철 설비비 총현가 년째의 설비비 할인률 균등화비용 총현가 할인률 할인률 할인률

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168 윤원철 전력측 분리비용 열측 분리비용 잔여비용 전력측 분리비용 열측 분리비용 잔여비용 열측 분리비용 열측 분리비용 전력측 분리비용 열측 분리비용 열측 잔여비용

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188 에너지경제연구투고안내 에너지경제연구원에서는에너지경제분야의연구활성화및전문화를도모하고, 관련산ㆍ학ㆍ연의전문가들이학술적이론및기법연구결과를발표할수있는기회를확대하기위하여 에너지경제연구 를 2002년 12월창간호를시발점으로매년 2회지속적으로발간하고있습니다. 이에 에너지경제연구 에수록할원고를모집하오니전문가들의많은관심과투고를바랍니다. - 다음 - 투고대상 : 관련학계및전문가원고매수 : 200자원고지 80매이내 (A4용지 15매이내 ) 내용 : 에너지-자원-환경경제및정책연구관련모든분야원고마감 : 매년 4월 30일 (6월발행 ), 10월 31일 (12월발행 ) 문의 : 교육학술진흥실 ( , gjjeong@keei.re.kr) 논문제출 : 투고시논문투고신청서를제출해야하며, 첨부파일을에너지경제연구원 Homepage < 에서다운로드받아작성하시기바랍니다. 채택된논문에대해서저자에게소정의원고료를지급합니다.

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190 Volume. Number 2 December 2003 Youngduk Kim Young-Seok Moon ㆍ Dal-Sok Lee Hojeong Park ㆍ Gyeong-Lyeob Cho Euy-Seok Yang Changsuh Park Sung-Keun Lee Won-Cheol Yun

KEEI ISSUE PAPER(Vol.1, No.6)

KEEI ISSUE PAPER(Vol.1, No.6) Volume. 1, No. 6 KOREA ENERGY ECONOMICS INSTITUTE Contents KOREA ENERGY ECONOMICS INSTITUTE 2 KEEI 3 KOREA ENERGY ECONOMICS INSTITUTE 4 KEEI 5 KOREA ENERGY ECONOMICS INSTITUTE 6 KEEI 7 KOREA ENERGY ECONOMICS