• 제목/요약/키워드: Central Bank

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디지털 화폐 시대와 CBDC 대응전략 (The Era of Digital Currency and CBDC Strategy)

  • 김소형;정지용;김문수;최향미
    • 디지털융복합연구
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    • 제19권12호
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    • pp.303-309
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    • 2021
  • 본 연구는 디지털 화폐 시대의 도래에 따라 한국 경제가 CBDC(Central Bank Digital Currency)를 사용할 경우의 효과를 살펴보고 CBDC의 대응전략을 논의하기로 한다. 이를 위해 디지털화폐의 정의와 각국의 CBDC의 개발단계를 검토하고, CBDC의 특징과 진행 현황, 그리고 CBDC의 국제화 가능성에 대해 살펴보았다. 연구결과, CBDC의 발행은 신용리스크를 감소시키고 현금과 대비하여 거래의 투명성을 제고할 수 있으며, 통화정책의 여력을 높일 수 있는 장점이 존재함을 알 수 있었다. 한편, 금융시장에서 기존 금융기관의 신용 기능이 축소되거나 자금 중개기능이 약화되고 금융 소외 등의 부작용도 발생할 수 있다. 그럼에도 불구하고 CBDC의 발행은 원화의 국제화 가능성을 제고할 수 있는 중요한 기회이므로 디지털 기축통화를 향한 각국의 경쟁과 협력에 발맞추는 선제적인 조치가 필요하다. 또한 우리나라가 보유한 비교우위를 통해 디지털 금융환경을 가속화하고 CBDC 발행을 통해 금융산업 및 원화의 국제화를 이루려는 전략적 대응이 필요하다. CBDC 설계 초기부터 다른 중앙은행들과의 협력을 통해 국제적 합의를 마련하고 디지털 화폐로의 전환 시기에 맞는 적극적인 정책 개발이 이루어져야 할 것이다.

Non-Conservatism of Bonferroni-Adjusted Test

  • Jeon, Cyeong-Bae;Lee, Sung-Duck
    • Communications for Statistical Applications and Methods
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    • 제8권1호
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    • pp.219-227
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    • 2001
  • Another approach (multi-parameter measurement method) of interlaboratory studies of test methods is presented. When the unrestricted normal likelihood for the fixed latent variable model is unbounded, we propose a me쇙 of restricting the parameter space by formulating realistic alternative hypothesis under which the likelihood is bounded. A simulation study verified the claim of conservatism of level of significance based on assumptions about central chi-square distributed test statistics and on Bonferroni approximations. We showed a randomization approach that furnished empirical significance levels would be better than a Bonferroni adjustment.

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Current Situation of Cryptocurrency in Vietnam

  • DANG, Thu Thuy
    • Asian Journal of Business Environment
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    • 제9권4호
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    • pp.29-34
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    • 2019
  • Purpose - The purpose of the research is to assess the current state of cryptocurrency in Vietnam and to provide several solutions and recommendations to the Government, the State Bank of Vietnam (SBV) and other relevant agencies for monitoring, managing, and controlling cryptocurrency effectively and efficiently. Research design, data and methodology - The study is based on the assessment and analysis of cryptocurrency in the world and the real situation of cryptocurrency in Vietnam in order to provide solutions to the controllable development of operation of this currency. Results - The study indicates the current operations of cryptocurrency in Vietnam and provides several suggestions to effectively control this currency. Conclusion - According to the study on current cryptocurrency and the situation of cryptocurrency in Vietnam, the author has proposed a number of solutions to provide suggestions to manage and develop the operations of cryptocurrency in a most practical manner. The governments of many countries in the world, including the Government of Vietnam, need more time as well as appropriate technology improvements to take advantage of these new digital currencies; therefore, they still need to ensure safety in compliance with the control and regulatory capabilities of the central government and central banks.

Financing COVID-19 Deficits in Fiscally Dominant Economies: Is The Monetarist Arithmetic Unpleasant?

  • Uribe, Martin
    • East Asian Economic Review
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    • 제24권4호
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    • pp.417-440
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    • 2020
  • The coronavirus pandemic of 2019-20 confronted fiscally dominant regimes around the world with the question of whether the large deficits caused by the health crisis should be monetized or financed by issuing debt. The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future. In spite of the qualifier 'unpleasant,' this result is positive in nature, and, therefore, void of normative content. I analyze conditions under which it is optimal in a welfare sense for the central bank to delay inflation by issuing debt to finance part of the fiscal deficit. The analysis is conducted in the context of a model in which the aforementioned monetarist arithmetic holds, in the sense that if the government finds it optimal to delay inflation, it does so knowing that it would result in higher inflation in the future. The central result of the paper is that delaying inflation is optimal when the fiscal deficit is expected to decline over time.

Prospect Analysis for Utilization of Virtual Assets using Blockchain Technology

  • Jeongkyu Hong
    • Journal of information and communication convergence engineering
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    • 제22권1호
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    • pp.64-69
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    • 2024
  • Blockchain is a decentralized network in which data blocks are linked. Through a decentralized peer-to-peer network, users can create shared databases, resulting in a trustworthy and aggregated database known as a blockchain that enhances reliability and security. The distributed nature of the blockchain enables data to be stored on multiple nodes, eliminating the need for a central server or platform. This disintermediation significantly reduces the transaction and administrative costs. The blockchain is particularly valuable in applications where reliability and stability are critical because it establishes an open database that ensures data integrity, making it virtually impossible to tamper with or falsify data. This study explores the diverse applications of the blockchain technology in virtual assets, such as cryptocurrency, decentralized finance, central bank digital currency, nonfungible tokens, and metaverses. In addition, it analyzes the potential prospects and developments driven by these innovative technologies.

군산항만의 발전전략에 관한 연구-대 중국교역을 중심으로- (A Study on Development Strategies for Kunsan Port : Focused on trade with China)

  • 백대영
    • 한국항만경제학회지
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    • 제17권2호
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    • pp.111-137
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    • 2001
  • The establishment of the WTO system means that the global age of trade has officially arrived. Since the integration of the world economy brings about the free movement of goods and services between nations, it is inevitable that sea-bound freight will continue to increase. A recent World Bank report says that China and Korea will be the first and seventh largest economic Powers, respectively, by the year 2020. In particular, the Korea peninsula has a geo-political advantage in being developed as a major Northeast Asian container center. Moreover China's swift uprising needs new order of trade for economy belt in Northeast Asia. Therefore, it can be said that Kunsan Port. which has already been designated as a free trade zone, has greater potential to rise as a regional beach-head port and main region for foreign investment. As such. Kunsan Port will play a major role in accelerating the emergence of the West Sea in international trade. There are several strategies for developing Kunsan Port into a central container port: 1) develop Kunsan port Into an import/export front base f3r multinational corporations, 2) develop Kunsan container port into the core composite container-linked central port, 3) attract foreign investment to the Kunsan Free Trade Area so as to promote balanced development among the regions of Korea, 4) support the central government and local governments to accelerate the coming of the "West Sea Era." These recommendations call for urgent implementation.

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드론영상에서 구조요청자 자동추출 방안: 도심지역 촬영영상을 중심으로 (Automatic Extraction of Rescue Requests from Drone Images: Focused on Urban Area Images)

  • 박창민
    • 디지털산업정보학회논문지
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    • 제15권3호
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    • pp.37-44
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    • 2019
  • In this study, we propose the automatic extraction method of Rescue Requests from Drone Images. A central object is extracted from each image by using central object extraction method[7] before classification. A central object in an images are defined as a set of regions that is lined around center of the image and has significant texture distribution against its surrounding. In this case of artificial objects, edge of straight line is often found, and texture is regular and directive. However, natural object's case is not. Such characteristics are extracted using Edge direction histogram energy and texture Gabor energy. The Edge direction histogram energy calculated based on the direction of only non-circular edges. The texture Gabor energy is calculated based on the 24-dimension Gebor filter bank. Maximum and minimum energy along direction in Gabor filter dictionary is selected. Finally, the extracted rescue requestor object areas using the dominant features of the objects. Through experiments, we obtain accuracy of more than 75% for extraction method using each features.

Monitoring Culicine Mosquitoes (Diptera: Culicidae) as a Vector of Flavivirus in Incheon Metropolitan City and Hwaseong-Si, Gyeonggi-Do, Korea, during 2019

  • Bahk, Young Yil;Park, Seo Hye;Kim-Jeon, Myung-Deok;Oh, Sung-Suck;Jung, Haneul;Jun, Hojong;Kim, Kyung-Ae;Park, Jong Myong;Ahn, Seong Kyu;Lee, Jinyoung;Choi, Eun-Jeong;Moon, Bag-Sou;Gong, Young Woo;Kwon, Mun Ju;Kim, Tong-Soo
    • Parasites, Hosts and Diseases
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    • 제58권5호
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    • pp.551-558
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    • 2020
  • The flaviviruses are small single-stranded RNA viruses that are typically transmitted by mosquitoes or tick vectors and are etiological agents of acute zoonotic infections. The viruses are found around the world and account for significant cases of human diseases. We investigated population of culicine mosquitoes in central region of Korean Peninsula, Incheon Metropolitan City and Hwaseong-si. Aedes vexans nipponii was the most frequently collected mosquitoes (56.5%), followed by Ochlerotatus dorsalis (23.6%), Anopheles spp. (10.9%), and Culex pipiens complex (5.9%). In rural regions of Hwaseong, Aedes vexans nipponii was the highest population (62.9%), followed by Ochlerotatus dorsalis (23.9%) and Anopheles spp. (12.0%). In another rural region of Incheon (habitat of migratory birds), Culex pipiens complex was the highest population (31.4%), followed by Ochlerotatus dorsalis (30.5%), and Aedes vexans vexans (27.5%). Culex pipiens complex was the predominant species in the urban region (84.7%). Culicine mosquitoes were identified at the species level, pooled up to 30 mosquitoes each, and tested for flaviviral RNA using the SYBR Green-based RT-PCR and confirmed by cDNA sequencing. Three of the assayed 2,683 pools (989 pools without Anopheles spp.) were positive for Culex flaviviruses, an insect-specific virus, from Culex pipiens pallens collected at the habitats for migratory birds in Incheon. The maximum likelihood estimation (the estimated number) for Culex pipiens pallens positive for Culex flavivirus was 25. Although viruses responsible for mosquito-borne diseases were not identified, we encourage intensified monitoring and long-term surveillance of both vector and viruses in the interest of global public health.

Problems of Shariah Governance Framework and Different Bodies: An Empirical Investigation of Islamic Banks in Bangladesh

  • ALAM, Md. Kausar;MUSTAFA, Hasri;UDDIN, Md. Salah;ISLAM, Md. Jahirul;MOHUA, Marjea Jannat;HASSAN, Md. Farjin
    • The Journal of Asian Finance, Economics and Business
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    • 제7권3호
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    • pp.265-276
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    • 2020
  • The study aims to explore the problems of the existing Shariah Governance Framework (SGF) and its concerned authorities in the context of Bangladesh. Thus, according to responses from 17 respondents, this study outlines that Bangladesh has an absence of a shortage of experts, experienced, knowledgeable, and qualified Shariah people at all levels (i.e., the central bank, Islamic banks, Shariah Supervisory Boards (SSBs), and regulators). Therefore, Bangladesh does not have a separate Islamic banking act, Shariah audit firm, Shariah index institutions, and comprehensive SGF. The existing guideline has a limitation concerning its comprehensiveness, accountability, responsibility, and structure of SSBs. Islamic banks do not follow the instruction of the central bank in the formation of SSBs. As a result, there is an absence of competent and qualified SSB, which also results in the functions of Shariah departments as well as Shariah applications. Usually, the Board of Directors (BOD), management, executives, customers, and the public also have the conceptual gap about Islamic banks, SGF, and banking system compared to the regular prayers, faith, and belief. Concisely, Bangladesh requisites a comprehensive SGF, Islamic banking act, a standard accounting system, and a robust Shariah audit system for the overall development of Islamic banks and SGF.

미국 주택 가격 상승률의 비대칭성과 최적통화정책 (Asymmetric Effects of US Housing Price Inflation on Optimal Monetary Policy)

  • 김장열;김민영;임기영
    • 국제지역연구
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    • 제13권2호
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    • pp.66-88
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    • 2009
  • 우리는 경제 내에 불확실성이 있을 경우의 최적 통화정책 준칙을 살펴본다. 특히 총수요에 대한 주택가격의 효과 뿐 만 아니라 주택가격 상승률에 관한 두 가지 가능한 영역을 허용한다. 두 가지 상태에 대한 불확실성이 Markov 상태 변환으로 모형화 된다. 미국 자료에 대한 예비 추정 결과는 두 개의 다른 상태 즉 정상 상태와 주택가격 버블 상태 영역의 존재를 확인한다. 다음으로, 본 연구에서는 주택시장에 두 개의 상태가 존재할 경우 중앙은행의 최적통화준칙을 살펴본다. '통상적' 상태 하에서는 인플레이션 압력에 반대로 대응해야 하는 반면, 버블 상태에서는 인플레이션 압력을 수용해야 한다는 면에서 중앙은행의 최적통화정책은 비대칭적이다. 또한, 미래 상태에 대한 불확실성이 있을 경우 더욱 보수적으로 통화정책을 운용해야 한다는 결과를 도출한다.