• Title/Summary/Keyword: Current Account Balance

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The Dynamics of Indonesia's Current Account Deficit : Analysis of the Impact of Exchange Rate Volatility

  • Purwono, Rudi;Mucha, Karima;Mubin, M. Khoerul
    • The Journal of Asian Finance, Economics and Business
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    • v.5 no.2
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    • pp.25-33
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    • 2018
  • In the globalization and free trade era, the current account deficit problem is a common phenomenon experienced by most countries, both developing and developed countries. Also with managed floating regime of exchange rate, it becomes very important to analyze the dynamics of current account balance which determine the trade. The deficit condition has lasted for four years in Indonesia, as well the deficit value above the value of the surplus that has been experienced during the period 2005-2011. This study is firstly aim to examine the condition of the deficit which happens in the export and import, manufactured goods and oil and gas, whether related to the transaction of goods and services. We try to build a predicted model which near the actual. Then, the focuses examines an exchange rate volatility impact on current account deficit. The model used in this research is a simultaneous model of Indonesia current account deficit from 2005 to 2014. The simulation result indicated that depreciation increase surplus to current account deficit. The decrease of export manufactured goods (non oil and gas) higher than the increase of import. For the oil and gas sector, depreciation of the rupiah against the US dollar results in an increased burden of higher oil and gas imports due to import transactions.

Triffin Dilemma and International Monetary System : Evidence from Pooled Mean Group Estimation

  • Guan, Long-Fei;Lau, Wee-Yeap
    • The Journal of Asian Finance, Economics and Business
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    • v.5 no.2
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    • pp.5-14
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    • 2018
  • This study is motivated based on concern from some renowned scholars and central bankers whom have raised the issue of the sustainability of the International Monetary System (IMS). Using the panel data set of four major international currencies, USD, JPY, EUR and GBP from 1973 to 2013 with Pooled Mean Group (PMG) estimator, to re-examine whether Triffin dilemma still exists through investigating the relationship between the reserve share, current account balance and real effective exchange rate. The evidence from the result indicates that Triffin dilemma exists only in the long run, and shows that in the long-run, current account balance is proportionate to the increased real effective exchange rate while varies inversely with the reserve shares. However, the estimation for the short-run is not significant to prove the existence of Triffin dilemma. In addition, we investigated the non-dollar panel sample and found that the international monetary system still suffers from Triffin dilemma even without the dollar. To overcome Triffin dilemma, immediate step such as having currency swap mechanism is recommended. In medium term, a multi-polar Monetary System is suggested, and in the longer time, a supranational currency will be used to replace all the currencies in the world.

Estimation on the Total Added Value of Household Production : The Extended Concept of Production from Non-SNA (확대된 생산개념를 적용한 가계생산의 부가가치산정)

  • 윤소영
    • Journal of the Korean Home Economics Association
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    • v.42 no.7
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    • pp.131-143
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    • 2004
  • The purpose of this paper is to prepare a satellite account of the household sector that is reflected in the current national income account by approving the economic activities of unpaid household labor as production activity and estimating its value. The study produced three results. First, as different methods of evaluation can be useful according to different study goals or the contents of related policies, it is unreasonable to present a single result for estimating unpaid household labor. This study, therefore, presented the values of housework based on 5 methods, ranging from 124 to 150 trillion won. Second, to input the added value of household production from the fixed capital (household durable goods), this study adopted the declining balance method used in the Korea National Statistical Office. As a result, the total consumption of fixed capital was estimated at approximately 18.8 trillion won. Third, the total added value of unpaid household labor was estimated to range from 143 to 169 trillion wens. The amount is a production value excluded from the SNA which needs to be formed as a separate household satellite account. The ratio of this total value added was 30-35.4 percents to the 1999 GDP in Korea(477 trillion wens).

Balancing between Supply and Demand in Supply Chain Operating (공급사슬 운영에서의 수요와 공급 균형에 관한 연구)

  • Jo Min-Gwan;Lee Yeong-Hae
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2004.10a
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    • pp.371-374
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    • 2004
  • The ultimate purpose of Supply Chain Management (SCM) is maximizing the profits of the overall Supply Chain (SC) through increasing customer satisfaction and decreasing operating cost. It can be successfully accomplished only when SC system balances demands with supply activities coordinated by aggregate planning, mid-term level of Supply Chain Planning(SCP). However, the existing measures to mainly estimate the specific function of SCM are not enough to evaluate the state of SC with respect to the balance between supply and demand in operating. To solve this problem, we develop a new SC performance measure, Balancing Point, using momentum concept. a fundamental knowledge of physics. Momentum concept can explain the relation among objects so that it can consider the balance between supply and demand in SC operating. The developed measure can not only consider the current state of the SC system but also take planned but not executed supply activities and upcoming demands into account. Therefore, using Balancing point, we can be aware of the unbalanced state of SC in advance.

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Intermittent Heating and Cooling Load Calculation Method -Comparing with ISO 13790

  • Lee, Sang-Hoon
    • Architectural research
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    • v.14 no.1
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    • pp.11-18
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    • 2012
  • College of Architecture, Georgia Institute of Technology, Atlanta, GA, US Abstract The intermittent heating and cooling energy need calculation of the ISO 13790 monthly method was examined. The current ISO 13790 method applies a reduction factor to the continuous heating and cooling need calculation result to derive the intermittent heating and cooling for each month. This paper proposes a method for the intermittent energy need calculation based on the internal mean temperature calculation. The internal temperature calculation procedure was introduced considering the heat-balance taking into account of heat gain, heat loss, and thermal inertia for reduced heating and cooling period. Then, the calculated internal mean temperature was used for the intermittent heating and cooling energy need calculation. The calculation results from the proposed method were compared to the current ISO 13790 method and validated with a dynamic simulation using EnergyPlus. The study indicates that the intermittent heating and cooling energy need calculation method using the proposed model improves transparency of the current ISO 13790 method and draws more rational outcomes in the monthly heating and cooling energy need calculation.

The characteristics of Pacioli's Bookkeeping (파치올리 부기론의 특성에 관한 고찰)

  • Yoon Seok-Gon
    • Journal of the Korea Society of Computer and Information
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    • v.10 no.3 s.35
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    • pp.297-306
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    • 2005
  • Compendium of arithmetic, geometry, and proportions and proportionality' that was published in Venice in 1494 has been recognized as the first bookkeeping data in the world. Major characteristics of Pacioli's bookkeeping rules were reviewed in this study as follows: All the necessary particulars for double entry bookkeeping were provided in Pacioli's bookkeeping rules;. List of property was described at the time of start of business; Three major books were used; Details of daily transactions were considered to be important; Strike through was lined at each description in journal books, details of daily transactions, and list of property after entry of ledger; Amount columns were provided and Arabic numerals were used; Annual settlement custom was being initiated; Profit and loss account was prepared at year-end; Trial balance sheet was inevitably described; Books were verified prior to closing accounts; Control account was not established; Financial statements were not prepared and business analysis was made, too; Finished goods inventory was not adjusted; Mark was assigned to books; Inter-office account was prepared; Branch accounts and branch ledgers were prepared; There was entries of trust; Current arrangement was described; The principle 'Cost or market price, whichever is lower basis' was promoted: Petty cash system is explained Checks and bills of exchange are used in bank account. As mentioned, characteristics of Pacioli's bookkeeping rules were reviewed; the signs of necessity for preparation of profit and loss statement and balance sheet is found as well as preparation of trial balance sheet and the rules may be considered as a very excellent one in terms of the bookkeeping on initiating stage of double entry bookkeeping.

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A Study on the Experiential Characteristics of Museum Visit and Its Periodical Implications (박물관 관람경험의 특성과 시대적 의미에 관한 연구)

  • 김민아
    • Korean Institute of Interior Design Journal
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    • no.25
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    • pp.191-197
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    • 2000
  • This thesis is focused on the visitors varied experiences of the current museum architecture. The current trend and periodical development of visitors experiences are discussed by analyzing the factors such as the external symbol scheme, the exhibition space scheme, and the visitors circulation scheme which are involved with a visitors experience and thus classifying the experiences related to each sample museum. Examining and providing logical descriptions on each of the schemes helps comprehend the visitors varied experiences. This research, which deals with thoroughly understanding a museum as an architecture followed by taking visitors experiences into account, is aimed to contribute to improving visitors experiences in the course of designing a museum. The above-mentioned types of combination applied to each museum chosen for the research help understand the following : National museums show predominance of specific visitors experiences. As for the external symbol scheme, most of national museums have adopted the temple type, whereas international museums have equally adopted with the temple type and the showroom type which are characterized by its dedication to function and being in balance between contents and formalities.

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The optimum steel fiber reinforcement for prestressed concrete containment under internal pressure

  • Zheng, Zhi;Sun, Ye;Pan, Xiaolan;Su, Chunyang;Kong, Jingchang
    • Nuclear Engineering and Technology
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    • v.54 no.6
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    • pp.2156-2172
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    • 2022
  • This paper investigates the optimum fiber reinforcement for prestressed concrete containment vessels (PCCVs) under internal pressure. To achieve this aim, steel fiber, which is the most widely used fiber type in current engineering applications, is adopted to constitute steel fiber-reinforced concrete (SFRC) to substitute the conventional concrete in the PCCV. The effects of characteristic parameters, 𝜆sf, of the steel fiber affecting significantly the mechanical behavior of the concrete are first taken into account. Partial or complete concrete regions of the PCCV are also considered to be replaced by SFRC to balance the economy and safety. By adopting the ABAQUS software, the ultimate bearing capacity and performance for the fiber-reinforced PCCV are scientifically studied and quantified, and the recommendations for the optimum way of fiber reinforcement are presented.

The Study on the improvement of vehicle fuel economy test method according to the characteristics of test fuel (시험용 연료 특성에 따른 자동차 연비측정 방법 개선에 관한 연구)

  • Lee, Minho;Kim, Jeonghwan
    • Journal of Energy Engineering
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    • v.23 no.4
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    • pp.9-18
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    • 2014
  • These test methods, the current domestic vehicles fuel economy calculation method is tested on a dynamometer for vehicles after you have installed the vehicle, given the test mode(FTP-75 & HWFET mode, etc.) are measured by vehicle emissions and fuel economy by seeking to have the results approach, the carbon balance method. At this point, using the carbon balance method is a test method was developed seeking fuel for a standard fuel properties, where the value of the constant and saved test was measured in THC, CO, $CO_2$ has a value calculation. Therefore, use fuel which is changed every time you test the fuel properties characteristics are not considered exactly. In this study, using the carbon balance method and fluid flow rate of the fuel used in the actual test is measured by comparing the results with the flow measurement methods, properties of the fuel used for the test attribute to study ways that can be considered, taking into account the physical attributes of a more diverse fuel line and fuel economy improved measurement methods that can be reviewed.

Cognitive Virtual Network Embedding Algorithm Based on Weighted Relative Entropy

  • Su, Yuze;Meng, Xiangru;Zhao, Zhiyuan;Li, Zhentao
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.13 no.4
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    • pp.1845-1865
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    • 2019
  • Current Internet is designed by lots of service providers with different objects and policies which make the direct deployment of radically new architecture and protocols on Internet nearly impossible without reaching a consensus among almost all of them. Network virtualization is proposed to fend off this ossification of Internet architecture and add diversity to the future Internet. As an important part of network virtualization, virtual network embedding (VNE) problem has received more and more attention. In order to solve the problems of large embedding cost, low acceptance ratio (AR) and environmental adaptability in VNE algorithms, cognitive method is introduced to improve the adaptability to the changing environment and a cognitive virtual network embedding algorithm based on weighted relative entropy (WRE-CVNE) is proposed in this paper. At first, the weighted relative entropy (WRE) method is proposed to select the suitable substrate nodes and paths in VNE. In WRE method, the ranking indicators and their weighting coefficients are selected to calculate the node importance and path importance. It is the basic of the WRE-CVNE. In virtual node embedding stage, the WRE method and breadth first search (BFS) algorithm are both used, and the node proximity is introduced into substrate node ranking to achieve the joint topology awareness. Finally, in virtual link embedding stage, the CPU resource balance degree, bandwidth resource balance degree and path hop counts are taken into account. The path importance is calculated based on the WRE method and the suitable substrate path is selected to reduce the resource fragmentation. Simulation results show that the proposed algorithm can significantly improve AR and the long-term average revenue to cost ratio (LTAR/CR) by adjusting the weighting coefficients in VNE stage according to the network environment. We also analyze the impact of weighting coefficient on the performance of the WRE-CVNE. In addition, the adaptability of the WRE-CVNE is researched in three different scenarios and the effectiveness and efficiency of the WRE-CVNE are demonstrated.