• East Asian Economic Review
• /
• 제21권4호
• /
• pp.317-342
• /
• 2017

The US dollar has kept as a position of key currency in the global economy in the changing international monetary system where the euro was introduced to some states of the EU in 1999. It is an evidence of inertia of the US dollar as a key currency. Our previous study (Ogawa and Muto, 2017b) conducted empirical analysis to investigate effects of several events on inertia of the US dollar. One of our findings was that the introduction of the euro increased utility of euro while utility of US dollar was kept unchanged. This paper examines the effects of the global financial crisis and the euro zone crisis as well as the introduction of the euro on the utility of the Japanese yen. The introduction of the euro significantly decreased the utility of the Japanese yen. It indicates that the introduction of the euro increased the utility of the euro while reducing the utility of the Japanese yen rather than the utility of the US dollar. The utility of the Japanese yen has significantly decreased while the global financial crisis and the euro zone crisis occurred. The Japanese yen has a declining trend in terms of its utility over time in the changing international monetary system.

• 한국건축시공학회지
• /
• 제9권1호
• /
• pp.111-121
• /
• 2009

Because of its unique characteristics, the construction industry tends to be affected by economic environment more than any other industries. The domestic construction industry was forced to change its management pattern and system when it went through the foreign currency crisis, and since then, the construction industry has been growing in terms of quality over last 10 years, breaking from the quantitative performance-oriented growth in the past. The study was intended to integrate the financial data of the companies during the period before and after the foreign currency crisis so as to analyze the effect of environmental changes on management performance of the companies. It was aimed at evaluating the changes to the stability, profitability and the growth potential, and collecting the data on variation of the market scale, price of resources such as material and labor and the financial environment, thereby analyzing the correlation with the management performance. The study, to deal with the difficulties which are anticipated, like the foreign currency crisis experienced in the past, was also intended to identify the correlation between the economic conditions and the performance of the construction companies, using the experimental data in the past.

• 한국컴퓨터정보학회논문지
• /
• 제23권5호
• /
• pp.41-46
• /
• 2018

This study focuses on the legal concept of virtual money, focusing on the case of how we can change the framework of fixed thinking about our trade concept and money with the fourth industrial revolution. The legal character of the virtual money, which played a role as a means of trading in crime, could be discussed, and the court could put it in the category of " property " as a subject of confiscation. Many people are expressing empathy for the fact that there will be many traits in the future world that are difficult to predict. At this side, when the legal validity of the advantage is not recognized as the legal money yet to be recognized as the legal currency, it begins to be discussed as a necessary means of trading between individuals, businesses and individuals. Defining a legal character can be very significant in determining policy direction related to future operations of virtual money. But to date, it is very difficult to establish the legal character of virtual money through existing legislation. Therefore, as we looked at in this case, we examined whether the property was subject to the seizure of the profits from the crime. Attention was also given to the possibility of such abuse of virtual money and whether effective legal interpretation was possible for the categories of assets subject to seizure.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권8호
• /
• pp.695-704
• /
• 2020

Bitcoin and other prominent cryptocurrencies have gained much attention since the last several years. Globally known as digital coin and virtual currency, this cryptocurrency is gained and traded within the blockchain system. The blockchain technology adopted in using the cryptocurrency has raised the eyebrows within the banking sector, government, stakeholders and individual investors. The rise of the cryptocurrency within this decade since the inception of Bitcoin in 2009 has taken the market by storm. Cryptocurrency is anticipated as the future currency that might replace the current paper currency worldwide. Even though the interest has caught the attention of users, many are not aware of its opportunities, drawbacks and challenges for the future. Researches on cryptocurrencies are still lacking and still at its infancy stage. In providing substantial guide and view to the academic field and users, this paper will discuss the opportunities in the cryptocurrency such as the security of its technology, low transaction cost and high investment return. The originality of this paper is on the discussion within law and regulation, high energy consumption, possibility of crash and bubble, and attacks on network. The future undertakings of cryptocurrency and its application will be systematically reviewed in this paper.

• 제어로봇시스템학회논문지
• /
• 제18권9호
• /
• pp.854-862
• /
• 2012

The optimal design of batch-storage network by using periodic square wave model provides analytical lot sizing equations for a complex supply chain network characterized as multi-supplier, multi-product, multi-stage, non-serial, multi-customer, cyclic system including recycling and/or remanufacturing. The network structure includes multiple currency flows as well as material flows. The processes are represented by multiple feedstock/product materials with fixed composition which are very suitable for production processes. In this study, transportation processes that carry multiple materials with unknown composition are added and the time frame is changed from single period into multiple periods in order to represent nonperiodic parameter variations. The objective function of the optimization involves minimizing the opportunity costs of annualized capital investments and currency/material inventories minus the benefit to stockholders in the numeraire currency. The expressions for the Kuhn-Tucker conditions of the optimization problem are reduced to a multiperiod subproblem for average flow rates and analytical lot-sizing equations. The multiperiod lot sizing equations are different from single period ones. The effects of corporate income taxes, interest rates and exchange rates are incorporated.

• 통상정보연구
• /
• 제8권1호
• /
• pp.371-398
• /
• 2006

Gold prices are rising around the world in all major currencies. This is a telltale sign of a Stage Two gold bull where gold decouples from the US dollar. In this study, We analysed a confluence of factors seem to be feeding gold's gains and the typical shape of a secular gold bull---gold bulls' three stages. Stages one, two, and three of a secular gold bull are defined by the major changes. Each stage, considered in turn, makes perfect sense when described in terms of global investor demand. Since Stage One is currency-devaluation driven, the young gold bull is most noticeable in terms of the dominant eroding currency. Now after three or four years of stage one, Stage Two arrives. Stage Two marks a momentous event when gold decouples from the local-currency devaluation. In the case of our gold bull today, Stage Two will be here when gold starts consistently rising faster than the dollar is able to fall. After five or so years of Stage Two gains, gold has a chance at going ballistic in stage three. Stage Three is only ignited if the general public around the world starts growing enamored with gold investing. In summary, the first stage being when insiders and professionals invest in the market. The second stage is when the general public and financial media recognizes that the bull market is real. The third stage is the mania stage when people feel that not only is the bull market real, but it is a must own situation. Through the study we found that gold is entering it now.

• 한국콘텐츠학회논문지
• /
• 제21권9호
• /
• pp.360-371
• /
• 2021

가상화폐의 등장은 최근 발전하고 있는 분산원장기술과 함께 중앙은행에서 발행하는 CBDC(Central Bank Digital Currency)에 대한 관심을 고조시키고 있다. 최근 전자화폐의 등장으로 현금 사용이 지속적으로 감소 추이를 보이고 있으며, 일부 국가들(특히, 인구가 적은 편이며, 현금이용 감소에 따른 부작용이 우려되는 국가와 금융 포용수준이 낮은 일부 국가들의 경우)은 이미 중앙은행이 CBDC에 대한 발행을 결정하거나 시험단계에 있다. CBDC 발행이 도래하고 새로운 금융환경이 조성되는 상황에서 정부 및 공공기관의 이를 바라보는 인식이나 태도에 대한 연구는 많이 부족한 상황이다. 실제 정책 입안자들이나 실행자들이 인식하는 CBDC 제도에 대한 태도와 대안이 그 정책의 영향을 받는 일반 사람들이 생각하는 인식과 어떠한 공통점과 차이점이 있는지에 대해 충분히 연구 혹은 분석된 바가 없다. 따라서 본 연구는 빅데이터 분석 방법을 통하여 중앙은행의 CBDC에 대한 공공의 인식과 민간의 인식에 대해 비교해 보고 향후 CBDC의 도입과 관련한 여러 쟁점들을 미리 점검할 수 있는 기회가 될 것이다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권3호
• /
• pp.781-791
• /
• 2021

This study aims to analyze the relationship between the business cycles of the ASEAN +3 countries. In addition, the effects of the spillover value on the coincident indicators are determined. This study employs secondary data and uses multivariate time series of five ASEAN countries, namely, Indonesia, Malaysia, Singapore, Thailand, and the Philippines. The proxy was the real gross domestic product (GDP) collected annually from the CEIC, the IMF, and the World Bank for the period from 1964 to 2016. The data was plotted against two time periods, 1964-1998 as the pre-crisis period, and 1999-2016 as the post-crisis period. The index data was changed to the base year 2010. The data was subsequently separated from the trends and the cyclic components. The cyclic components were obtained by using Hondrick-Prescott filter, and them were further analyzed. The analytical method used was Contemporaneous and Cross-Correlation tools. The results showed that, before and after the crisis, the value of the business cycle correlation between ASEAN +3 countries was stronger and moved together at the same level of lag value. The implication of this research was an initial finding of the ASEAN +3 countries' prerequisites for the formation of a common currency.

• 한국비블리아학회지
• /
• 제20권1호
• /
• pp.151-164
• /
• 2009

이 연구는 공공도서관의 소장자료를 대상으로 공공도서관 장서의 주제별, 연령별 소장현황을 분석하는데 그 목적이 있다. 소장자료의 주제별, 연령별 분석을 통해 공공도서관 장서의 주제별 분포와 노후화 정도를 파악하고자 하였다. 전국의 423개 공공도서관이 분석대상이었으며, 한국십진분류표(KDC)가 주제별 소장현황분석을 위한 기준으로 사용되었고, 자료의 출판년도가 소장자료의 최신성 혹은 노후화정도 분석을 위한 기준으로 사용되었다. 분석결과, 공공도서관 장서는 주제별 불균형이 심각한 것으로 나타났다. 특히 문학과 사회과학의 비중이 전체 자료의 54.8%를 차지하는 것으로 나타났다. 공공도서관 장서의 최신성은 비교적 우수하였으며, 2000년 이후 발간자료의 소장비율이 전체 자료의 64.9%를 차지하였다.

• 한국BIM학회 논문집
• /
• 제14권1호
• /
• pp.30-38
• /
• 2024

This study aims to propose a smart city governance logic model that can accommodate more diverse information service systems by mixing hub-and-spoke and blockchain technologies as a data management model. Specifically, the research focuses on deriving the logic of an operating system that can work across smart city planning based on the two data governance technologies. The first step of the logic is the generation and collection of information, which is first divided into information that requires information protection and information that can be shared with the public, and the information that requires privacy is blockchainized, and the shared information is integrated and aggregated in a data hub. The next step is the processing and use of the information, which can actively use the blockchain technology, but for the information that can be shared other than the protected information, the governance logic is built in parallel with the hub-and-spoke type. Next is the logic of the distribution stage, where the key is to establish a service contact point between service providers and beneficiaries. Also, This study proposes the establishment of a one-to-one data exchange relationship between information providers, information consumers, and information processors. Finally, in order to expand and promote citizen participation opportunities through a reasonable compensation system in the operation of smart cities, we developed virtual currency as a local currency and designed an open operation logic of local virtual currency that can operate in the compensation dimension of information.