• Journal of Korean Society of Forest Science
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• v.105 no.3
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• pp.342-350
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• 2016

This study aims to make the stand density management diagram which is very useful for establishing systematic management plan and obtaining management goal in Pinus densiflora forest. To estimate 5 models mainly composed of stand density management diagram, we used total of 1,886 sample plots having more than 75% of the total basal area of the pine trees in each stand. To test the goodness of fit, $X^2$ was computed with a significance level of 5%, and the acceptable error range as 20%. Also standard deviation of the model was $34.59m^3{\cdot}ha^{-1}$, minimum acceptable error range was 16.59% and coefficient of variation was 22.11%. If we use the stand density management diagram, it would be useful to establish the timber yield and thinning plan understanding the pathway of stand density management.

• International Area Studies Review
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• v.20 no.1
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• pp.105-125
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• 2016

The expansionary monetary policy was practiced after 2001 in Japan to treat the deflation spiral, and reduced only the nominal interest rates and domestic household demand. One of the most serious factors for this failure was the change of private sector's expectancy. This paper has studied the effect of Japanese monetary policy in 21c., with empirical research based on a renewed macroeconomic model and the VAR. The empirical analysis shows that the effect of monetary policy on the national income during 2001.01-2015.03 is weaker than that of 1985.01-1994.04. Money volume has a diminutive effect on the growth of GDP within a short term after 2001. The change in the expectations of the private sectors might have been the cause of ineffectiveness of the expansive monetary policy. Economic agents learned from the past Japanese financial crisis that an expansive monetary policy increased the inflation rate and caused the 'bubbles to burst' afterwards. The VAR analysis says that the effectiveness of monetary policy on the economic depression declined over the past 20 years and the expansion of money volume has no influence on exchange rate and net export. This means that the expansive monetary policy lost its effect on net export and national income steadily. Monetary policy makers have to recognize this fact, and to consider another anti-cycle political instrument, i.e. the fiscal policy with government debt.