Chung Hua Institution for Economic Research

Taiwan, Taiwan

Chung Hua Institution for Economic Research

Taiwan, Taiwan
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Chen N.-K.,National Taiwan University | Cheng H.-L.,Chung Hua Institution for Economic Research
Pacific Economic Review | Year: 2017

This paper studies the relationship between the house price-to-income ratio (PIR) and economic fundamentals, and investigates the long-horizon forecastability of the PIR. We first construct a small DSGE model to derive a dynamic expression of PIR, linking PIR to macroeconomic fundamentals and the stance of monetary policy. Based on the theoretically derived PIR, variance decomposition suggests that interest rate and real income growth appear to be the main sources for the deviations of PIR. Using the difference between actual PIR and the estimated fundamental PIR as the predictor, we find that both in-sample and out-of-sample forecastability of the PIR over the future dynamics of PIR are significant. © 2017 John Wiley & Sons Australia, Ltd

Lee Y.-J.,Chung Hua Institution for Economic Research
International Review for Spatial Planning and Sustainable Development | Year: 2017

IPCC AR5 notes that since the 1950s, changes in climate systems, ocean, sea levels, icebergs, carbon and other biochemistry have been unprecedented. If the emission rate of greenhouse gases remains constant or increases, then the effects of climate change will become severe. Accordingly, research on vulnerability, mitigation and adaptation of climate change is required. With respect to those considerations, development of the concept of resilience and the construction of resilient cities has become a critical and important task for sustainable urban and regional development. This study begins by providing a brief introduction of the significant impacts of climate change globally and, in particular, in Taiwan. The second section analyzes concepts related to resilient cities, including vulnerability, adaptation, resilience, governance and community empowerment. The third section proposes principles to govern the construction of resilient cities through community empowerment, based on a literature review and documentary analyses. The final section presents conclusions and suggestions. © SPSD Press from 2017, SPSD Press, Kanazawa.

Chiu C.-R.,National Taiwan University of Science and Technology | Liou J.-L.,Chung Hua Institution for Economic Research | Wu P.-I.,National Taiwan University | Fang C.-L.,National Taipei University
Energy Economics | Year: 2012

In this paper, we present an alternative analysis framework to evaluate the effects of technology heterogeneities and undesirable output on environmental efficiency measurement. The proposed framework combines the directional distance function and a meta-frontier analysis. It can be used to measure efficiency improvements brought about by enhanced technical management and technological advances. For demonstration purposes, we used the framework to measure the environmental efficiency in 90 countries worldwide for the 2003-2007 period. The results showed that when the meta-technology set is used as the evaluation basis, the average environmental efficiency of high competitiveness countries is greater than that of lower-middle, low, and upper-middle competitiveness countries. The upper-middle competitiveness countries perform worse than the lower-middle and low competitiveness countries because of the excessive labor force usage and carbon dioxide emissions in these countries. We also found that the environmental inefficiency of the meta-frontier for high competitiveness countries can be attributed to managerial failure in the production process, whereas that for upper-middle, lower-middle, and low competitiveness countries can be attributed to technological differences. © 2012 Elsevier B.V.

Chyi Y.-L.,National Tsing Hua University | Lai Y.-M.,Chung Hua Institution for Economic Research | Liu W.-H.,National Chung Cheng University
Research Policy | Year: 2012

This paper attempts to empirically investigate the mechanisms underlying growth in Hsinchu high-tech clusters. We emphasize knowledge spillovers as one of the potential factors contributing to agglomeration benefits. This paper sheds light on the impact of external and internal spillovers on firm performance in Hsinchu high-tech clusters. The empirical results provide supporting evidence that the external R&D spillover is statistically significant in explaining net sales of firms in Hsinchu high-tech clusters. © 2011 Elsevier B.V. All rights reserved.

Lin C.-H.,Chung Hua Institution for Economic Research | Wen L.,Chung Hua Institution for Economic Research | Tsai Y.-M.,Michigan State University
Waste Management | Year: 2010

As policy making is in essence a process of discussion, decision-making tools have in many cases been proposed to resolve the differences of opinion among the different parties. In our project that sought to promote a country's performance in recycling, we used the Analytic Hierarchy Process (AHP) to evaluate the possibilities and determine the priority of the addition of new mandatory recycled waste, also referred to as Due Recycled Wastes, from candidate waste appliances. The evaluation process started with the collection of data based on telephone interviews and field investigations to understand the behavior of consumers as well as their overall opinions regarding the disposal of certain waste appliances. With the data serving as background information, the research team then implemented the Analytic Hierarchy Process using the information that formed an incomplete hierarchy structure in order to determine the priority for recycling. Since the number of objects to be evaluated exceeded the number that the AHP researchers had suggested, we reclassified the objects into four groups and added one more level of pair-wise comparisons, which substantially reduced the inconsistency in the judgment of the AHP participants. The project was found to serve as a flexible and achievable application of AHP to the environmental policy-making process.In addition, based on the project's outcomes derived from the project as a whole, the research team drew conclusions regarding the government's need to take back 15 of the items evaluated, and suggested instruments that could be used or recycling regulations that could be changed in the future. Further analysis on the top three items recommended by the results of the evaluation for recycling, namely, Compact Disks, Cellular Phones and Computer Keyboards, was then conducted to clarify their concrete feasibility. After the trial period for recycling ordered by the Taiwan Environmental Protection Administration, only Computer Keyboards were referred to as the new Due Recycled Waste and their producers started to take responsibility for recycling them from 2007 onwards. © 2009 Elsevier Ltd.

Hsu G.J.Y.,Chung Hua Institution for Economic Research | Xu H.-M.,Chung Hua Institution for Economic Research
Environmental Economics and Policy Studies | Year: 2014

A computationally fuzzy multiobjective programming (MOP) approach with a Leontief interindustry model is used to investigate the trade-offs between per capita gross domestic product, national employment, and per capita CO2 emissions in Taiwan. To achieve the objectives of our investigation, the relevant literature is first reviewed, followed by construction of a fuzzy MOP coupled with an input-output model to evaluate the economic impact of the reduction of CO2 emissions on Taiwan’s economy as a whole. Empirical data have been collected, and various strategies for mitigating industrial CO2 emissions are simulated. Based on these simulations, policy recommendations are also proposed. © 1999, Springer Japan.

Lo S.-F.,Chung Hua Institution for Economic Research
Environmental Science and Policy | Year: 2010

The Kyoto Protocol marks the beginning of a new global effort to combat climate change. By constructing GDP and CO2 emissions as two counteracting performance criteria on a per capita basis, this paper aims to advance the understanding of performance variation among different Annex groups under pressure from climate change. This differs from the traditional application of evaluation and aims to identify inherent efficiency differences across systems rather than separately based on the potential inefficiency of individual countries. The 'world frontier' for Annex Parties consists of three layers: Annex II forms the first layer, EIT and Annex III form the second layer, and Annex IV forms the third layer. The inferior performance observed in other non-Annex II Parties (EIT, Annex III, and Annex IV Parties) or the existence of a multi-frontier structure is due to an inherent system affiliation rather than poor performance on the part of the individual country. Annex IV Parties can be particularly vulnerable to controls on an emission intensity basis. By not only serving as a reference for future allocation schemes, the results can shed light on the function of a flexible reduction mechanism for countries that cooperate based on their common but differentiated responsibilities. © 2009 Elsevier Ltd. All rights reserved.

Lo S.-F.,Chung Hua Institution for Economic Research
Corporate Social Responsibility and Environmental Management | Year: 2010

Corporate sustainability is defined as the integration of financial benefit, environmental protection, and social responsibility into business operations and management. However, there is little evidence depicting the relationship between corporate sustainability and operating performance, and it is also doubtful whether investors in the stock market value corporate sustainable strategies. This study therefore seeks to evaluate the performance of sustainable firms through the perspectives of exploring realistic issues as well as providing supporting evidence. A two-stage performance evaluation is adopted to evaluate the sustainable firms' profitability and marketability efficiency in comparison with other firms. © 2009 John Wiley & Sons, Ltd and ERP Environment.

Lee Y.-J.,Chung Hua Institution for Economic Research
Environmental Impact Assessment Review | Year: 2015

The consumer responsibility approach uses footprints as indicators of the total direct and indirect effects of a product or consumption activity. This study used a time-series analysis of three environmental pressures to quantify the total environmental pressures caused by consumption in Taiwan: land footprint, carbon footprint, and water footprint. Land footprint is the pressure from appropriation of biologically productive land and water area. Carbon footprint is the pressure from greenhouse gas emissions. Water footprint is the pressure from freshwater consumption. Conventional carbon footprint is the total CO2 emitted by a certain activity or the CO2 accumulation during a product life cycle. This definition cannot be used to convert CO2 emissions into land units. This study responds to the needs of "CO2 land" in the footprint family by applying the carbon footprint concept used by GFN. The analytical results showed that consumption by the average Taiwan citizen in 2000 required appropriation of 5.39gha (hectares of land with global-average biological productivity) and 3.63gha in 2011 in terms of land footprint. The average Taiwan citizen had a carbon footprint of 3.95gha in 2000 and 5.94gha in 2011. These results indicate that separately analyzing the land and carbon footprints enables their trends to be compared and appropriate policies and strategies for different sectors to be proposed accordingly. The average Taiwan citizen had a blue water footprint of 801 m3 in 2000 and 784 m3 in 2011. By comparison, their respective global averages were 1.23 gha, 2.36 gha and 163 m3 blue water in 2011, respectively. Overall, Taiwan revealed higher environmental pressures compared to the rest of the world, demonstrating that Taiwan has become a high footprint state and has appropriated environmental resources from other countries. That is, through its imports of products with embodied pressures and its exports, Taiwan has transferred the environmental pressures from consuming goods and services to other parts of the world, which is an environmental injustice. This study examines the time series trend of land, carbon, and water footprints in Taiwan. However, if these analyses can be downscaled to city/county levels, they will be more useful for examining different sustainability performance of local governments in different regions. © 2015 Elsevier Inc.

Lee Y.-J.,Chung Hua Institution for Economic Research
Environmental Impact Assessment Review | Year: 2014

In the face of global warming and environmental change, the conventional strategy of resource centralization will not be able to cope with a future of increasingly extreme climate events and related disasters. It may even contribute to inter-regional disparities as a result of these events. To promote sustainable development, this study offers a case study of developmental planning in Chiayi, Taiwan and a review of the relevant literature to propose a framework of social vulnerability indicators at the township level. The proposed framework can not only be used to measure the social vulnerability of individual townships in Chiayi, but also be used to capture the spatial developmental of Chiayi. Seventeen social vulnerability indicators provide information in five dimensions. Owing to limited access to relevant data, the values of only 13 indicators were calculated. By simply summarizing indicators without using weightings and by using zero-mean normalization to standardize the indicators, this study calculates social vulnerability scores for each township.To make social vulnerability indicators more useful, this study performs an overlay analysis of social vulnerability and patterns of risk associated with national disasters. The social vulnerability analysis draws on secondary data for 2012 from Taiwan's National Geographic Information System. The second layer of analysis consists of the flood potential ratings of the Taiwan Water Resources Agency as an index of biophysical vulnerability. The third layer consists of township-level administrative boundaries. Analytical results reveal that four out of the 18 townships in Chiayi not only are vulnerable to large-scale flooding during serious flood events, but also have the highest degree of social vulnerability. Administrative boundaries, on which social vulnerability is based, do not correspond precisely to "cross-administrative boundaries," which are characteristics of the natural environment. This study adopts an exploratory approach that provides Chiayi and other government agencies with a foundation for sustainable strategic planning for environmental change. The final section offers four suggestions concerning the implications of social vulnerability for local development planning. © 2013 Elsevier Inc.

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