• Title/Summary/Keyword: Change in oil price

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A Study on Score Comparison between Preliminary and Main Certification of Green Building Certification Criteria for Educational Facilities (국내 친환경건축물 인증제도의 예비인증과 본인증의 변화 연구-학교시설 중심으로)

  • Lee, Hyun-Woo;Choi, Chang-Ho
    • Journal of the Korean Solar Energy Society
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    • v.31 no.1
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    • pp.68-77
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    • 2011
  • The concern of green building has been increased with an environmental problem or a rising oil price by industrialization. Therefore offices, schools and some buildings are expected to acquire the green building certification increasingly, but the information such as a process of green building certification, the state of certificated buildings, a score as specific clauses on green building certification is to seek. For not only school facilities make an effect to an student's learning achievement, but is the place where adolescents in a period of growth almost spend their life, eco-friendly school facilities is absolutely required. For this reason, systematizing the information related with the green building certification is to be needed in school field as well Therefore the effort to systematize certification management of eco-friendly school and provide information of certificated building, certification application procedure and sources related with certification for convenience is needed. Also reference material to decrease an inefficient time and expenses and to systematize certification evaluation is be able to beneficial. On the study, for such as the purpose above-mentioned, as the appraisal standard with 12 selected schools randomly is arranged. Based on the assessed scores table, features or something in common as a cause of the score change between preliminary and main certification is to be classified and anaylized.

Renewable and Sustainable Resource Derived Carbon Neutral Adhesive Materials (재생 및 지속사용 가능 자원 유래 탄소 중립형 접착소재)

  • Kim, Baekjin;Kim, Sangyong;Cho, Jin Ku;Lee, Sang-Hyeup;Kim, Hyun-Joong
    • Journal of Adhesion and Interface
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    • v.11 no.2
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    • pp.76-83
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    • 2010
  • The extensive use of fossil resources over the past century resulted in dwindling supply and surging price of oil and it is strongly suspected that irreversible global climate change might be due to carbon dioxide emitted from combustion of fossil carbons. With this regard, much attention is recently paid to renewable and sustainable resources as alternatives to petroleum. In this review, we considered a range of efforts to replace petroleum-derived chemicals, particularly adhesive materials with renewable and sustainable plant-based biomass feedstock.

The Ecological View of Robert Smithson's Reclamation Project (로버트 스미슨의 "개간 프로젝트"에 나타나는 생태학적 세계관)

  • Lee, Jaeeun
    • The Journal of Art Theory & Practice
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    • no.15
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    • pp.7-30
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    • 2013
  • This is a study on the ecological view of Robert Smithson's reclamation projects. Smithson was a pioneer of Earth art in the late 1960's. Robert Smithson believed that he could transform industrial wastelands, such as an abandoned oil rig and a no longer used quarry, into "Earth Art." In the early seventies, he conceived of land reclamation as a new art form and called this art "Reclamation Projects." His attention regarding industrial ruin started from the American political and social situations in the 1960's. In the late 1960's, American society was in chaos from the right of movement of African Americans, the women's rights movement and from the strike for renunciation of the Vietnam War. The intellectual class seemed to believe that it was the destiny of a closed system's society to run in the direction of entropy. Smithson, who was skeptical about the system of American society, also thought that entropy was the proper diagnosis to describe America's situation in the 1960's. The 1960's civic movements like the civil rights movement and antiwar movements expanded into the environmental movements based on ecological views of the 1970's. The government had also started to worry about environmental pollution. Thus, the reclamation act was also established in 1972. Smithson believed that the relation between art and social background are closely related and affect each other. He was concerned with how art can join society, and the result was reclamation projects. Such reclamation projects lie on man-made wastelands, like abandoned oil rigs and no longer used quarries, which was an allegory of entropy. He also thought that Frederick Law Olmsted was a pioneer of earth art. The aesthetic category of Olmsted's view of landscape is to be based on the picturesque of Uvedale Price and William Gilpin. So Smithson, who considered Olmsted as his touchstone, also accepted the picturesque. Such reclamation projects aim to change with nature by adapting the creative power of artists to the ruin which has the highest level of entropy in industrial society. Smithson wanted this to become the bridge between man and nature. His reclamation project's aim, which shows the system interacting between man and nature as a network, is not different from the ecological view of the 1970's environmental movement.

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Econometric Analysis on Factors of Food Demand in the Household : Comparative Study between Korea and Japan (가계 식품수요 요인의 계량분석 - 한국과 일본의 비교 -)

  • Jho, Kwang-Hyun
    • Journal of the Korean Society of Food Culture
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    • v.14 no.4
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    • pp.371-383
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    • 1999
  • This report gave analysis of food demand both in Korea and Japan through introducing the concept of cohort analysis to the conventional demand model. This research was done to clarify the factors which determine food demand of the household. The traits of the new model for demand analysis are to consider and quantify those effects on food demand not only of economic factors such as expenditure and price but also of non-economic factors such as the age and birth cohort of the householder. The results of the analysis can be summarized as follows: 1) The comparison of the item-wise elasticities of food demand demonstrates that the expenditure elasticity is higher in Korea than in Japan and that the expenditure elasticity is -0.1 for cereal and more than 1 for eating-out in both countries. In respect to price elasticity, the absolute values of all the items except alcohol and cooked food are higher in the Korea than in Japan, and especially the price elasticities of beverages, dairy products and fruit are predominantly higher in Japan. In this way, both expenditure and price elasticities of a large number of items are higher in Korea than in Japan, which may be explained from the fact that the level of expenditure is higher in Japan than in Korea. 2) In both of Korea and Japan, as the householder grows older, the expenditure for each item increases and the composition of expenditure changes in such a way that these moves may be regarded as due to the age effect. However, there are both similarities and differences in the details of such moves between Korea and Japan. Those two countries have this trait in common that the young age groups of the householder spend more on dairy products and middle age groups spend more on cake than other age groups. In the Korea, however, there can be seen a certain trend that higher age groups spend more on a large number of items, reflecting the fact that there are more two-generation families in higher age groups. Japan differs from Korea in that expenditure in Japan is diversified, depending upon the age group. For example, in Japan, middle age groups spend more on cake, cereal, high-caloric food like meat and eating-out while older age groups spend more for Japanese-style food like fish/shellfish and vegetable/seaweed, and cooked food. 3) The effect of the birth cohort effect was also demonstrated. The birth cohort effect was introduced under the supposition that the food circumstances under which the householder was born and brought up would determine the current expenditure. Thus, the following was made clear: older generations in both countries placed more emphasis upon stable food in their composition of food consumption; the share of livestock products, oil/fats and externalized food was higher in the food composition of younger generation; differences in food composition among generations were extremely large in Korea while they were relatively small in Japan; and Westernization and externalization of diet made rapid increases simultaneously with generation changes in Korea while they made any gradual increases in Japan during the same time period. 4) The four major factors which impact the long-term change of food demand of the household are expenditure, price, the age of the householder, and the birth cohort of the householder. Investigations were made as to which factor had the largest impact. As a result, it was found that the price effect was the smallest in both countries, and that the relative importance of the factor-by-factor effects differed among the two countries: in Korea the expenditure effect was greater than the effects of age and birth cohort while in Japan the effects of non-economic factors such as the age and birth cohort of householder were greater than those of economic factors such as expenditures.

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EU Enlargement and economic environmental change of Russia and Eastern Europe - From asymmetry and subsidiarity paradigm in industrial cooperative paradigm (EU의 동방확대에 따른 동유럽·러시아간의 경제 환경 변화 - 비대칭성 및 보완성 패러다임에서 산업협력 패러다임으로)

  • Kim, Sang Won
    • Journal of International Area Studies (JIAS)
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    • v.13 no.1
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    • pp.135-156
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    • 2009
  • The two waves of EU enlargement in 2004 and 2007, have been milestones of European integration. While research has been conducted into the impact of these events on both the European and the global economies,1 there have been few attempts to assess the effects of EU enlargement and the introduction of the euro on countries such as Russia, which neighbour the EU but currently have no perspective of accession. This paper aims to provide an assessment of the effects that EU enlargement and the introduction of the euro have had on Russia, the largest country neighbouring the EU. In particular, it focuses on trade and investment links between the EU and Russia, as well as the use of the energy by Russian residents and authorities. Economic links between Russia and the EU are found to have strengthened considerably in the areas of trade, investment and other financial flows in recent years. Strong growth, particularly in Russia, as well as the high price of oil and gas, Russia's major export items, has facilitated this expansion of trade and finance. Moreover, available data do not suggest that EU enlargement has had a negative impact on Russia in terms of trade or investment diversion. Thus, the strategic partnership between Russia and the EU has been increasingly underpinned by an expansion of cross-border economic activities. Thus, the paper contributes to two broad strands of literature on this subject, namely the impact of regional trade and economic arrangements on non-member countries and the international role of currencies.

A Multidisciplinary Research Framework for Green Car Industry (그린카 산업의 학제적 분석 방안에 관한 연구)

  • Choi, Jinho;Chung, Sunyang;Park, Kyungbae;Jang, Dae-Chul;Cho, Hyeongrye;Kang, SeungGyu
    • Journal of Technology Innovation
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    • v.22 no.3
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    • pp.101-133
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    • 2014
  • Climate change and low-carbon consumer movement is demanding proper response around the world while rising oil price increases consumers' needs for green car. As a preliminary study to establish an industrial platform for green car and bring out corporate strategies, this article aims to propose an academic research framework by using various methodologies including conceptual/mathematical modeling, system dynamics, and ABM from different angles. First, an analysis framework for the industrial platform was introduced to analyze green car cases, required elements were proposed, and econometrics was applied to build a basic model related to green platform (two-sided market). Also, to analyze from a dynamic perspective, a system dynamics model was applied to green car environment to build a system dynamics analysis model that is applicable to particular green car industry analysis. Lastly, an agent based model was used to study the way to activate the hybrid car market in Korea from individual consumers' perspective. Based on the result, vehicle policies that are either being enforced or planned to be enforced in the Korean HEV market can be analyzed.

A Study on Commodity Asset Investment Model Based on Machine Learning Technique (기계학습을 활용한 상품자산 투자모델에 관한 연구)

  • Song, Jin Ho;Choi, Heung Sik;Kim, Sun Woong
    • Journal of Intelligence and Information Systems
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    • v.23 no.4
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    • pp.127-146
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    • 2017
  • Services using artificial intelligence have begun to emerge in daily life. Artificial intelligence is applied to products in consumer electronics and communications such as artificial intelligence refrigerators and speakers. In the financial sector, using Kensho's artificial intelligence technology, the process of the stock trading system in Goldman Sachs was improved. For example, two stock traders could handle the work of 600 stock traders and the analytical work for 15 people for 4weeks could be processed in 5 minutes. Especially, big data analysis through machine learning among artificial intelligence fields is actively applied throughout the financial industry. The stock market analysis and investment modeling through machine learning theory are also actively studied. The limits of linearity problem existing in financial time series studies are overcome by using machine learning theory such as artificial intelligence prediction model. The study of quantitative financial data based on the past stock market-related numerical data is widely performed using artificial intelligence to forecast future movements of stock price or indices. Various other studies have been conducted to predict the future direction of the market or the stock price of companies by learning based on a large amount of text data such as various news and comments related to the stock market. Investing on commodity asset, one of alternative assets, is usually used for enhancing the stability and safety of traditional stock and bond asset portfolio. There are relatively few researches on the investment model about commodity asset than mainstream assets like equity and bond. Recently machine learning techniques are widely applied on financial world, especially on stock and bond investment model and it makes better trading model on this field and makes the change on the whole financial area. In this study we made investment model using Support Vector Machine among the machine learning models. There are some researches on commodity asset focusing on the price prediction of the specific commodity but it is hard to find the researches about investment model of commodity as asset allocation using machine learning model. We propose a method of forecasting four major commodity indices, portfolio made of commodity futures, and individual commodity futures, using SVM model. The four major commodity indices are Goldman Sachs Commodity Index(GSCI), Dow Jones UBS Commodity Index(DJUI), Thomson Reuters/Core Commodity CRB Index(TRCI), and Rogers International Commodity Index(RI). We selected each two individual futures among three sectors as energy, agriculture, and metals that are actively traded on CME market and have enough liquidity. They are Crude Oil, Natural Gas, Corn, Wheat, Gold and Silver Futures. We made the equally weighted portfolio with six commodity futures for comparing with other commodity indices. We set the 19 macroeconomic indicators including stock market indices, exports & imports trade data, labor market data, and composite leading indicators as the input data of the model because commodity asset is very closely related with the macroeconomic activities. They are 14 US economic indicators, two Chinese economic indicators and two Korean economic indicators. Data period is from January 1990 to May 2017. We set the former 195 monthly data as training data and the latter 125 monthly data as test data. In this study, we verified that the performance of the equally weighted commodity futures portfolio rebalanced by the SVM model is better than that of other commodity indices. The prediction accuracy of the model for the commodity indices does not exceed 50% regardless of the SVM kernel function. On the other hand, the prediction accuracy of equally weighted commodity futures portfolio is 53%. The prediction accuracy of the individual commodity futures model is better than that of commodity indices model especially in agriculture and metal sectors. The individual commodity futures portfolio excluding the energy sector has outperformed the three sectors covered by individual commodity futures portfolio. In order to verify the validity of the model, it is judged that the analysis results should be similar despite variations in data period. So we also examined the odd numbered year data as training data and the even numbered year data as test data and we confirmed that the analysis results are similar. As a result, when we allocate commodity assets to traditional portfolio composed of stock, bond, and cash, we can get more effective investment performance not by investing commodity indices but by investing commodity futures. Especially we can get better performance by rebalanced commodity futures portfolio designed by SVM model.

Cellulosic Ethanol Production (셀룰로식 (Cellulosic) 에탄올 생산)

  • Chung, Chang-Ho
    • KSBB Journal
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    • v.23 no.1
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    • pp.1-7
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    • 2008
  • The world demand of ethanol as an alternative fuel for gasoline is increasing rapidly because of high oil price and global climate change. Most of ethanol is currently produced from corn grain or sugars in sugarcane and sugar beet. Because these sources compete with foods and animal feed and are not expected to be enough for future demand of ethanol. Thus, cellulosic ethanol from agricultural residues or wood has to be commercialized in near future. Typical cellulosic ethanol production consists of pretreatment, enzyme hydrolysis, fermentation and product separation. This paper reviews the principles and status of each step and discusses issues for cellulosic ethanol production.