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Testing for Nonlinear Threshold Cointegration in the Monetary Model of Exchange Rates with a Century of Data (화폐모형에 의한 환율 결정 이론의 비선형 문턱 공적분 검정: 100년간 자료를 중심으로)

  • Lee, Junsoo;Strazicich, Mark C.
    • KDI Journal of Economic Policy
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    • v.31 no.2
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    • pp.1-13
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    • 2009
  • The monetary model suggests that nominal exchange rates between two countries will be determined by important macroeconomic variables. The existence of a cointegrating relationship among these fundamental variables is the backbone of the monetary model. In a recent paper, Rapach and Wohar (2002, Journal of International Economics) advance the literature by testing for linear cointegration in the monetary model using a century of data to increase power. They find evidence of cointegration in five or six of ten countries. We extend their work to the nonlinear framework by performing threshold cointegration tests that allow for asymmetric adjustments in two regimes. Asymmetric adjustments in exchange rates can occur, for example, if transactions costs are present or if policy makers react asymmetrically to changing fundamentals. Moreover, whereas Rapach and Wohar (2002) found it necessary to exclude the relative output variable in some cases to maintain the validity of their cointegration tests, we can include this variable as a stationary covariate to increase power. Overall, using their same long-span data, we find more support for cointegration in a nonlinear framework.

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A study on the effect that five-minute tests influence low level students' improvement of their assessment in mathematics (수학 학습부진 학생의 수학 학습 성취도 향상을 위한 5분 테스트 활용의 효과)

  • Bae, Se-Hyeon;Park, Yeon-Yong;Lee, Heon-Soo
    • Journal of the Korean School Mathematics Society
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    • v.14 no.4
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    • pp.459-476
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    • 2011
  • In this study, as a teaching way of classes by achievement level, low level students have taken five-minute tests that could be efficient in remedial feedback, and we have investigated the students' improvements of their assessment in mathematics through each of the unit tests. The results show that the five-minute tests with low level classes helped them develop mathematics problem-solving skills and also form positive attitudes about mathematics. More studies of the various methods must be done so that low level students can develop their abilities to solve mathematical problems skillfully.

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A Topology Based Partition Method by Restricted Group Migration (한정된 그룹 이동에 의한 위상 기반 회로 분할 방법)

  • Nam, Min-Woo;Choi, Yeun-Kyung;Rim, Chong-Suck
    • Journal of the Korean Institute of Telematics and Electronics C
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    • v.36C no.1
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    • pp.22-33
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    • 1999
  • In this paper, we propose a new multi-way circuit partitioning system that partition large circuits to progrmmable circuit board which consist of FPGAs and interconnect components. Here the routing topology among the chips are predetermined and the number of available interconnections are fixed. Since the given constraints are difficult to be satisfied by the previous partition method, we suggest a new multi-way partition method by target restriction that considers all the constraints for the given board. To speed up, we construct a multi-level cluster tree for hierarchical partitioning. Experimental results for several benchmarks show that the our partition method partition them by satisfying all the given constraints and it used up to 10 % fewer interconnections among the chips than the previous K-way partition method.

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Influence of CT Reconstruction on Spatial Resolution (CT 영상 재구성의 공간분해능에 대한 영향)

  • Chon, Kwon Su
    • Journal of the Korean Society of Radiology
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    • v.12 no.1
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    • pp.85-91
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    • 2018
  • Computed tomography, which obtains section images from reconstruction process using projection images, has been applied to various fields. The spatial resolution of the reconstructed image depends on the device used in CT system, the object, and the reconstruction process. In this paper, we investigates the effect of the number of projection images and the pixel size of the detector on the spatial resolution of the reconstructed image under the parallel beam geometry. The reconstruction program was written in Visual C++, and the matrix size of the reconstructed image was $512{\times}512$. The numerical bar phantom was constructed and the Min-Max method was introduced to evaluate the spatial resolution on the reconstructed image. When the number of projections used in reconstruction process was small, artifact like streak appeared and Min-Max was also low. The Min-Max showed upper saturation when the number of projections is increased. If the pixel size of the detector is reduced to 50% of the pixel size of the reconstructed image, the reconstructed image was perfectly recovered as the original phantom and the Min-Max decreased as increasing the detector pixel size. This study will be useful in determining the detector and the accuracy of rotation stage needed to achieve the spatial resolution required in the CT system.

IV ECM Threshold Cointegration Tests and Nonlinear Monetary Policy in Korea (분계점 공적분 검정법을 사용한 한국의 비선형 테일러 통화정책 검증)

  • Enders, Walter;Lee, Junsoo;Strazicich, Mark C.
    • KDI Journal of Economic Policy
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    • v.29 no.2
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    • pp.135-157
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    • 2007
  • The goal of this paper is to examine the validity of nonlinear Taylor rules in Korea. To perform our tests, we utilize new IV ECM threshold cointegration tests that are invariant to nuisance parameters. The new tests have a standard chi-square distribution and the same critical values can be used throughout. This is in contrast to OLS ECM threshold cointegration tests, which depend on nuisance parameters and have nonstandard distributions. After finding significant support for nonlinear cointegration, we find that the Bank of Korea raises the call rate of interest only when inflation is above a threshold rate. We additionally find that the Bank of Korea increases the call rate of interest to possibly counter domestic currency deprecation only when the rate of currency deprecation exceeds a threshold.

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Bus Splitting Techniques for Low Power SoC Design (저 전력 시스템 온 칩 설계를 위한 버스 분할 기술)

  • Lim Hoyeong;Yoon Misun;Shin Hyunchul;Park Sungju
    • Journal of KIISE:Computer Systems and Theory
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    • v.32 no.6
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    • pp.324-332
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    • 2005
  • In general, bus system consumes a very significant portion of power in a chip. Bus splitting can be used to reduce the energy dissipation and to reduce the Propagation delay on the bus by lowering the parasitic load of each bus segment. Data exchange probability distribution between a set of interconnected processing elements affects the average energy dissipation of the splitted bus architectures. In this research, we have developed tree-based bus splitting techniques and design methodologies, as an extension of horizontally aligned bus splitting. We have developed the methodology to select near-optimal bus architectures for low energy dissipation when data exchange probability distribution of a system is given. Experimental results show that the proposed techniques can reduce energy dissipation on the bus by up to 83$\%$.

Decomposition and, Nitrogen, Phosphorus and Potassium Dynamics of Pinus thundbergii Needle Litter (해송엽(海松葉) Litter의 분해(分解)와 N, P 및 K의 동태(動態))

  • Yi, Myong-Jong
    • Journal of Korean Society of Forest Science
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    • v.80 no.3
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    • pp.303-310
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    • 1991
  • Seasonal patterns of decomposition and nutrient release from the needle litter were examined using litter-bags in coastal Pinus thunbergii forests in nothern Kyushu, Japan. Dry matter losses from decomposing needle litter were smillar in all standsover a experimental period. Mass loss in dry weight is lost rapidly during the first year, and thereafter the rate of loss slows. Litter lost approximately 40% of initial mass in 1 yr. The predicted decay constant, k values ranged from 0.5 to 0.6 Decomposition half-times($t_{0.50}$) ranged from 1.1 to 1.4 year. In the decomposing needle litter, the concentrations of N and P generally increased with time while the concentration of K decreased. A decrease in absolute amount was noted for K during decomposition while in an increase was found for N. The order of mobility of elements was K>P>N. Mineralization phase of N had not appeared during the experiment.

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Changes of Volatile Components of Cooked Rice during Storage at $70^{\circ}C$ (쌀의 취반 후 휘발성 성분 발생량 변화)

  • Lee, B.Y.;Son, J.R.;Ushio, Matuskura;Keiji, Kainuma;Akio, Maekawa
    • Korean Journal of Food Science and Technology
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    • v.23 no.5
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    • pp.610-613
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    • 1991
  • The changes of volatile components of cooked rice during storage at $70^{\circ}C$ for 5 hr were investigated. Among more than 100 volatile components of fresh cooked rice, the predominant one was hexanal followed by nonanal, acetone, pentanal, butanal, heptanal, octanal and toluene. These eight components comprised about 55% of the total volatile, which was decreased by half after one hour storage. The amount of major volatile components in Tongil type rice was higher than Japonica rice, but the decrease of volatiles during storage was faster in the former.

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Studies on the screening and properties of Raw Starch Saccharifying Microorganism(I) - Selection, optimum condition of enzyme production of Aspergillus sp. SN-871 - (생전분(生澱粉) 자화성(資化性) 미생물(微生物)의 분리(分離)와 성질(性質)에 관한 연구(硏究)(I) - Aspergillus sp. SN-871의 분리와 효소 생산조건 -)

  • Suh, Myung-Ja;Nho, Kyoung-Hee
    • The Korean Journal of Mycology
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    • v.15 no.3
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    • pp.169-174
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    • 1987
  • The studies on the screening and properties of Raw Starch Saccharifying Microorganism were as follows;Apotent mold strain was selected and screened to digest raw starch, which was classified as a strain of Aspergillus sp. SN-871. The crude enzyme production was maximized when grown on wheat bran media for 5 days at $30^{\circ}C$ and pH 4.0. The stable range of pH was 2 to 5.

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Preparation of Calcium Powder from Eggshell and Use of Organic Acids for Enhancement of Calcium Ionization (난각칼슘의 제조 조건 및 유기산이 칼슘의 이온화에 미치는 영향)

  • Shin, Hyung-Soon;Kim, Kong-Hwan
    • Applied Biological Chemistry
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    • v.40 no.6
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    • pp.531-535
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    • 1997
  • An efficient process for recovery of calcium from the eggshell was developed and some organic acids were used in an attempt to enhance the degree of calcium ionization. Eggshell membrane was readily separated from crushed eggshell based on the differences in specific gravities. The conditions which allowed most efficient membrane removal were found to be 30 rpm of speed, 30 min of residence time and 0.08 of volume fraction. It took 3 hours for the eggshell powder prepared at $1000^{\circ}C$ to reach L value of 90 with the Hausner ratio being 1.43. The calcium ion concentrations were 990, 3500, 3900 and 4200 ppm in pure water, acetic acid, citric acid and lactic acid$(0.05{\sim}3%)$ aqueous solution, respectively. The degrees of ionization of calcium-citrate-malate complex(CCM), calcium-citric acid complex(CC) and calcium malic acid complex(CM) increased by 4 to 5 times compared to eggshell calcium powder.

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