• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.153-164
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• 2022

In this study, we estimate the quantile-regression framework of the shipping industry for the Capesize used ship, which is a typical raw material transportation from January 2000 to December 2021. This research aims two main contributions. First, we analyze the relationship between the Capesize used ship, which is a typical type in the raw material transportation market, and the freight market, for which mixed empirical analysis results are presented. Second, we present an empirical analysis model that considers the structural transformation proposed in the Hyunsok Kim and Myung-hee Chang(2020a) study in quantile-regression. In structural change investigations, the empirical results confirm that the quantile model is able to overcome the problems caused by non-stationarity in time series analysis. Then, the long-run relationship of the co-integration framework divided into long and short-run effects of exogenous variables, and this is extended to a prediction model subdivided by quantile. The results are the basis for extending the analysis based on the shipping theory to artificial intelligence and machine learning approaches.

• The Korean Journal of Applied Statistics
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• v.21 no.3
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• pp.497-508
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• 2008

As important markets have been closely connected in the opening and globalizing process, the instability in one market is increasingly possible to spread in other markets, which necessarily leads to careful investigations. In analyzing the short and the long run dynamics between the stock and the real estate markets, which are the two major investment options, this study conducts the statistical tests for the interrelationships between the two markets and the possibility of their substitution effect. In addition, the estimation results appear to be consistent with the simple causal relationship among the markets in the high interest rate period and the relatively complex relationship in the low interest rate period.