• Title/Summary/Keyword: Asymmetric factors

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Is Mispricing in Asset Prices Due to the Inflation Illusion? (자산가격의 오류는 인플레이션의 착각 때문인가?)

  • Lee, Bong Soo
    • KDI Journal of Economic Policy
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    • v.36 no.3
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    • pp.25-60
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    • 2014
  • We examine whether the observed negative relations between stock returns and inflation and between housing returns and inflation can be explained by the inflation illusion hypothesis. We identify the mispricing component in asset prices (i.e., stock prices and housing prices) based on present value models, linear and loglinear models, and we then investigate whether inflation can explain the mispricing component using the data from three countries (the U.S., the U.K., and Korea). When we take into account the potential asymmetric effect of positive and negative inflation on the mispricing components in asset prices, which is an important implication of the inflation illusion hypothesis, we find little evidence for the inflation illusion hypothesis in that both positive and negative inflation rates do not have a negative effect on the mispricing components. Instead, we find that behavioral factors such as consumer sentiments contribute to the mispricing of asset prices.

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Study on Pelvic Parameters and Biomechanical Characteristics of Foot in Patients with Chronic Low Back Pain (만성 요통 환자의 골반지표와 발의 생체역학적 특징 연구)

  • Kong, Jae-Cheol;Moon, Soo-Jeong;Jo, Dong-Chan;Ko, Youn-Suk;Song, Yung-Sun;Lee, Jung-Han
    • Journal of Physiology & Pathology in Korean Medicine
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    • v.26 no.1
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    • pp.81-87
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    • 2012
  • The structural and biomechanical characteristics of pelvic and foot are important factors of back pain, but it is still complicated to clearly explain the relationship among them. The purpose of this study was to find out the characteristic of pelvic parameters and biomechanics of foot in patients with low back pain. Thirty-three female subjects with chronic low back pain were enrolled and ODI and VAS score were measured for back pain index. All subjects were taken the X-ray examination for major pelvic parameters and foot scan analysis for foot pressure, gait angle, fore-foot/rear-foot peak pressure ratio and asymmetric index. Statistical analysis were performed to examine the inter-relation between the measurement. As a result, it was shown the positive interrelation between back pain and F/R ratio, but others were not shown the relationship related to low back pain. And there were correlations between the lumbo-pelvic structure and biomechanics of foot in some aspects, but the causal relationship between them are still indefinable. In order to get more information about structures and biomechanics related to low back pain, subsequent researches are needed.

A Study on the Possibility of Damage by Anti-aircraft Debris between the Response of Unmanned Aircraft (무인기 대응 간 대공무기 파편에 의한 피해 가능성 연구)

  • Kim, Sea Ill;Shin, Jin
    • Journal of the Korea Society for Simulation
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    • v.29 no.3
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    • pp.1-8
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    • 2020
  • When enemy drones infiltrate large urban areas, various forms of great republics are deployed in large areas to respond. Due to the characteristics of a large number of government-run aircraft, the residual coal, other than the hit bullet, falls into various sizes of debris after its own explosion. The damage rate was analyzed by dividing the debris into anti-aircraft guns and guided weapons by deriving four factors: critical speed, fragmentation mass, initial speed of debris, and object collision speed, which can cause damage to human life as the debris falls to the ground. In the future, the North is expected to infiltrate the capital city of Seoul by operating unmanned aerial vehicles, which are asymmetric forces, and the damage could be minimized by setting up pre-fatal and fire-restricted zones to minimize casualties between responses.

Efficiency Analysis of Terrestrial Broadcasters and Comprehensive Programming Program Providers by Additive DEA (Additive DEA 모형을 이용한 지상파방송사업자와 종합편성 방송채널사용사업자의 효율성 분석)

  • Kim, Hyun-Ki;Cho, Young-Sang
    • The Journal of the Korea Contents Association
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    • v.21 no.10
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    • pp.309-321
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    • 2021
  • While total sales of broadcasting business have been increasing, terrestrial broadcasters' sales are stagnant and comprehensive programming program providers(PPs)' sales are increasing. The purpose of this study is to derive implications by analyzing the relative efficiency and super-efficiency of domestic broadcasters in such an asymmetric situation. In this study, we use input and output data of three central terrestrial broadcasters and four comprehensive programming PPs from 2012 to 2019. For the analysis, Additive DEA model and Additive super-efficiency DEA model are used with the assumption of VRS condition since the broadcasting industry is characterized by economies of scale. As a result, we find out that the input excess of tangible assets is the most decisive cause of inefficiency that reduces the efficiency of central terrestrial broadcasters. On the other hand, for the comprehensive programming PPs, the input excess of tangible assets and the output shortfall of total sales are important factors of inefficiency.

Comparison of Postural Alignment and Foot Pressure Balance according to the Dysmenorrhea Degree in 20's Women (20대 여성의 월경곤란증 정도에 따른 자세 정렬과 족저압 균형에 대한 비교)

  • Park, Sieun;Kim, Da-Jeong;Choi, Yoo-Rim
    • The Journal of the Korea Contents Association
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    • v.22 no.3
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    • pp.576-585
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    • 2022
  • In determining the cause of dysmenorrhea, it is necessary to investigate postural alignment and balance. The purpose of this study is to compare and analyze whether there is a difference in posture alignment and foot pressure balance according to the dysmenorrhea degree. The subjects were twenty female students in their 20s, who had pain caused by dysmenorrhea. According to the degree of dysmenorrhea, the subjects were divided into mild and severe groups. In the results, there was a significant difference only in shoulder height asymmetry angle between the mild and severe groups (p<0.05), and there was no significant difference in pelvic and knee joint alignment. In the correlation analysis, there was a significant positive correlation between the dysmenorrhea score (MDQ) and shoulder height asymmetry angle was found. These results indicate that dysmenorrhea symptom and asymmetric alignment of shoulder are related. To analyze these factors, further research will need to investigate the correlation between dysmenorrhea and spinal alignment.

The Characteristics of Transitional Garden in The Early National Period in America - Focused on the analysis of Paca's Garden, Mount Vernon and Monticello - (미국 초기국가시대 전환기 정원의 특성 - 파커 정원, 마운트 버논, 몬티첼로 분석을 중심으로 -)

  • Paek, Nan-Young;Lee, Jong-Sung;Kim, Hyun
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.32 no.4
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    • pp.132-142
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    • 2014
  • This study is the first stage to identify distinctive characteristics of American Romantic Garden compared to English Romantic Garden. The purpose of the study is to identify characteristics of transitional garden in the early period of America by analyzing of Paca garden, Mount Vernon and Monticello when English Naturalistic Garden was firstly imported. The analysis studied historical background, people who designed garden, formal garden and characteristics of natural garden through reference. Also based on data through reference and field research, spatial configuration and garden factors of each site were analyzed. In spatial configuration, straight line and curve line, formal terrace and natural slope, visible axis and invisible axis, symetric and asymmetric, and perspective and oblique perspectives were used as analyzing factors. As a result of analysis, each garden showed different type from that of formal gardens from colony period, which is natural garden of asymmetric garden(English natural garden) coexisted. Paca garden which planned formal garden and natural garden in each space showed characteristics of each space, but in formal garden residential axis and garden axis does not coincide which shows it is out of formal garden type. Such phenomena and the fact that naturalistic garden coexist in the same garden shows that the formal garden type from early days in US is starting to change in different types. Mount Vernon garden, similar to Paca garden, was designed to have two different types of gardens in harmony rather than divide the space into different space and design it. It adapted serpent walkway but shows symmetric by central axis and considered formalistic plan through same materials. However through terrace in hills and spatial plan of oblique perspective, one could observe that naturalistic type was beginning to settle in US gardens. Through Monticello analysis, space was designed with major characteristics of naturalistic garden which is serpent walkway, ornamental farm, winding flower bed grove and bush and oblique perspective, and it completely duplicates characteristics of naturalistic garden which could not be found in gardens imported from UK.

Commissionning of Dynamic Wedge Field Using Conventional Dosimetric Tools (선량 중첩 방식을 이용한 동적 배기 조사면의 특성 연구)

  • Yi Byong Yong;Nha Sang Kyun;Choi Eun Kyung;Kim Jong Hoon;Chang Hyesook;Kim Mi Hwa
    • Radiation Oncology Journal
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    • v.15 no.1
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    • pp.71-78
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    • 1997
  • Purpose : To collect beam data for dynamic wedge fields using conventional measurement tools without the multi-detector system, such as the linear diode detectors or ionization chambers. Materials and Methods : The accelerator CL 2100 C/D has two photon energies of 6MV and 15MV with dynamic wedge an91es of 15o, 30o, 45o and 60o. Wedge transmission factors, percentage depth doses(PDD's) and dose Profiles were measured. The measurements for wedge transmission factors are performed for field sizes ranging from $4\times4cm^2\;to\;20\times20cm^2$ in 1-2cm steps. Various rectangular field sizes are also measured for each photon energy of 6MV and 15MV, with the combination of each dynamic wedge angle of 15o 30o. 45o and 60o. These factors are compared to the calculated wedge factors using STT(Segmented Treatment Table) value. PDD's are measured with the film and the chamber in water Phantom for fixed square field. Converting parameters for film data to chamber data could be obtained from this procedure. The PDD's for dynamic wedged fields could be obtained from film dosimetry by using the converting parameters without using ionization chamber. Dose profiles are obtained from interpolation and STT weighted superposition of data through selected asymmetric static field measurement using ionization chamber. Results : The measured values of wedge transmission factors show good agreement to the calculated values The wedge factors of rectangular fields for constant V-field were equal to those of square fields The differences between open fields' PDDs and those from dynamic fields are insignificant. Dose profiles from superposition method showed acceptable range of accuracy(maximum 2% error) when we compare to those from film dosimetry. Conclusion : The results from this superposition method showed that commissionning of dynamic wedge could be done with conventional dosimetric tools such as Point detector system and film dosimetry winthin maximum 2% error range of accuracy.

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A Test on the Volatility Feedback Hypothesis in the Emerging Stock Market (신흥주식시장에서의 변동성반응가설 검정)

  • Kim, Byoung-Joon
    • The Korean Journal of Financial Management
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    • v.26 no.4
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    • pp.191-234
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    • 2009
  • This study examined on the volatility feedback hypothesis through the use of threshold GARCH-in-Mean (GJR-GARCH-M) model developed by Glosten, Jaganathan, and Runkle (1993) in the stock markets of 14 emerging countries during the period of January, 1996 to May, 2009. On this study, I found successful evidences which can support the volatility feedback hypothesis through the following three estimation procedures. First, I found relatively strong positive relationship between the expected market risk premiums and their conditional standard deviations from the GARCH-M model in the basis of daily return on each representative stock market index, which is appropriate to investors' risk-averse preferences. Second, I can also identify the significant asymmetric time-varying volatility originated from the investors' differentiated reactions toward the unexpected market shocks by applying the GJR-GARCH-M model and further find the lasting positive risk aversion coefficient estimators. Third, I derived the negative signs of the regression coefficient of unpredicted volatility on the stock market return by re-applying the GJR-GARCH-M model after I controlled the positive effect of predicted volatility through including the conditional standard deviations from the previous GARCH-M model estimation as an independent explanatory variable in the re-applied new GJR-GARCH-M model. With these consecutive results, the volatility feedback effect was successfully tested to be effective also in the various emerging stock markets, although the leverage hypothesis turned out to be insufficient to be applied to another source of explaining the negative relationship between the unexpected volatility and the ex-post stock market return in the emerging countries in general.

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Sleep Architecture and Physiological Characteristics of Obstructive Sleep Apnea in Split-Night Analysis (수면분할 분석으로 본 수면무호흡증의 수면구조와 생리적 특징)

  • Kim, Eui-Joong
    • Sleep Medicine and Psychophysiology
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    • v.13 no.2
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    • pp.45-51
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    • 2006
  • Obstructive sleep apnea (OSA) syndrome disrupts normal sleep. However, there were few studies to evaluate the asymmetric distribution, the one of the important factors of normal sleep in OSA subjects. We hypothesized that asymmetry would be broken in OSA patients. 49 male subjects with the complaint of heavy snoring were studied with polysomnography. We divided them into two groups based on the apnea-hypopnea index (AHI) fifteen: 13 simple snoring group (SSN, average AHI $5.9{\pm}4.4$) and 32 OSA group (average AHI $47.3{\pm}23.9$). We compared split sleep variables between the first half and the second half of sleep within each group with paired t-test for the evaluation of asymmetry. Changes of sleep architecture of OSA were higher stage 1 sleep% (S1), total arousal index (TAI), AHI, and mean heart rate (HR) and lower stage 2 sleep% (S2), REM sleep%, and mean arterial O2 saturation (SaO2) than SSN subjects. SWS and wake time after sleep onset (WASO) were not different between two groups. In split-night analysis, OSA subjects showed higher S2, slow wave sleep% (SWS), spontaneous arousal index (SAI), and mean HR in the first half, and higher REM sleep% and mean SaO2 in the second half. Those were same pattern as in SSN subjects. Mean apnea duration and longest apnea duration were higher in the second half only in the OSA. No differences of AHI, ODI, WASO, and S1 were found between the first and the second half of sleep in both groups. TAI was higher in the first half only in the SSN. SWS and WASO seemed to be influenced sensitively by simple snoring as well as OSA. Unlike our hypothesis, asymmetric distributions of major sleep architecture variables were preserved in OSA group. Losing asymmetry of TAI might be related to pathophysiology of OSA. We need more studies that include large number of subjects in the future.

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Recent Research Trends of Mixed Matrix Membranes for CO2 Separation (이산화탄소 분리용 혼합 매질 분리막 최신 연구 동향)

  • Chi, Won Seok;Lee, Jae Hun;Park, Min Su;Kim, Jong Hak
    • Membrane Journal
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    • v.25 no.5
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    • pp.373-384
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    • 2015
  • In the past few decades, polymeric membrane has played an important role in gas separation applications. For the separation of $CO_2$, one of greenhouse gases, high permselectivity, long-term stability and scale-up are needed. However, conventional polymeric membranes have shown a trade-off relation between permeability and selectivity while inorganic materials are highly permeable but expensive. Mixed matrix membranes (MMMs) combining the advantages of both polymeric and inorganic materials have become a possible breakthrough for the next-generation gas separation membranes. The MMMs could be either symmetric or asymmetric but the latter is more preferred to improve the permeance. Important factors influencing the MMM fabrication include homogeneous distribution of inorganic particles and good interfacial contact between inorganic filler and organic matrix. Recently, metal organic frameworks (MOFs) have received much attention as a new class of porous crystalline materials and a potential candidate for $CO_2$ separation. Zeolitic imidazolate frameworks (ZIFs), a sub-branch of MOFs, are the most widely used in MMMs due to small particle size and appropriate pore size for $CO_2$ separation. One of the major issues associated with the incorporation of porous particles in a polymeric membrane is to control the microstructure of the porous particle materials such as particle size, orientation, and boundary conditions etc. In this review, major challenges surrounding MMMs and the strategies to tackle these challenges are given in detail.