• Title/Summary/Keyword: Dynamic characteristic

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Changes in Stock Market Co-movements between Contracting Parties after the Trade Agreement and Their Implications

  • So-Young Ahn;Yeon-Ho Bae
    • Journal of Korea Trade
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    • v.27 no.1
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    • pp.139-158
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    • 2023
  • Purpose - The study of co-movements between stock markets is a crucial area of finance and has recently received much interest in a variety of studies, especially in international finance. Stock market co-movements are a major phenomenon in financial markets, but they are not necessarily independent of the real market. Several studies support the idea that bilateral trade linkages significantly impact stock market correlations. Motivated by this perspective, this study investigates whether real market integration due to trade agreements brings about financial market integration in terms of stock market co-movement. Design/methodology - Over the 10 free trade agreements (FTAs) signed by the United States, using a dynamic conditional correlations (DCC) multivariate GARCH (MGRACH) model, we empirically measure the degree of integration by finding DCCs between the US market and the partner country's market. We then track how these correlations evolve over time and compare the results before and after trade agreements. Findings - According to the empirical results, there are positive return spillover effects from the US market to eight counterpart equity markets, except Jordan, Morocco, and Singapore. Especially Mexico, Canada, and Chile have large return spillover effects at the 1% significance level. All partner countries of FTAs generally have positive correlations with the US over the entire period, but the size and variance are somewhat different by country. Meanwhile, not all countries that signed trade agreements with the United States showed the same pattern of stock market co-movement after the agreement. Korea, Mexico, Chile, Colombia, Peru, and Singapore show increasing DCC patterns after trade agreements with the US. However, Canada, Australia, Bahrain, Jordan, and Morocco do not show different patterns before and after trade agreements in DCCs. These countries generally have the characteristic of relatively lower or higher co-movements in stock markets with the US before the signing of the FTAs. Originality/value - To our knowledge, few studies have directly examined the linkages between trade agreements and stock markets. Our approach is novel as it considers the problem of conditional heteroscedasticity and visualizes the change of correlations with time variations. Moreover, analyzing several trade agreements based on the United States enables the results of cross-country pairs to be compared. Hence, this study provides information on the degree of stock market integration with countries with which the United States has trade agreements, while simultaneously allowing us to track whether there have been changes in stock market integration patterns before and after trade agreements.

Characteristic of Film Music by Director Baz Luhrmann : Focusing on the Movies , and (바즈루어만 감독의 영화음악 특징 : 영화 <댄싱히어로>, <로미오와 줄리엣>, <물랑루즈>를 중심으로)

  • Kim, Youn-Sik;Kim, Young-Sam
    • Journal of Korea Entertainment Industry Association
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    • v.13 no.8
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    • pp.223-230
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    • 2019
  • This paper aims to derive the specificity of film music of Baz Luhrmann, a Hollywood film director, focusing on his representative works such as Dancing Heroes, Romeo and Juliet, and Moulin Rouge. Frist, Dancing Heroes captures various dance music genres through dynamic shooting techniques and shows trendy sensibility by using the main theme song 'Time after Time,' sung by the main character, Tina. Second, Romeo and Juliet, the original work of Shakespeare, keeps thier lines and stories while decorating gorgeous fashion and rock music in jukebox style. Also, it is harmonized with the most modern and trendy MTV-style video. Third, Moulin Rouge presents film music through the 'mix and match' method, which consists of jukebox-type trendy songs containing classical back stage musical and Bollywood musical images. In conclusion, the style of Baz Luhrmann has been reborn as a unique way of directing Buz Luhrmann's film music that it is expressed by connecting various juke box style music with amazing visual effect. Through director's style, it is possible to suggest the direction of various film music to the industries.

Application of Near-Infrared Spectroscopy in Neurological Disorders: Especially in Orthostatic Intolerance (신경계 질환에서 근적외선분광분석법의 적용: 기립불내증을 중심으로)

  • Kim, Yoo Hwan;Paik, Seung-ho;Phillips V, Zephaniah;Seok, Hung Youl;Jeon, Nam-Joon;Kim, Beop-Min;Kim, Byung-Jo
    • Journal of the Korean neurological association
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    • v.35 no.1
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    • pp.8-15
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    • 2017
  • Near-infrared spectroscopy (NIRS), a noninvasive optical method, utilizes the characteristic absorption spectra of hemoglobin in the near-infrared range to provide information on cerebral hemodynamic changes in various clinical situations. NIRS monitoring have been used mainly to detect reduced perfusion of the brain during orthostatic stress for three common forms of orthostatic intolerance (OI); orthostatic hypotension, neurally mediated syncope, and postural orthostatic tachycardia syndrome. Autonomic function testing is an important diagnostic test to assess their autonomic nervous systems for patients with symptom of OI. However, these techniques cannot measure dynamic changes in cerebral blood flow. There are many experimentations about study of NIRS to reveal the pathophysiology of patients with OI. Research using NIRS in other neurologic diseases (stroke, epilepsy and migraine) are ongoing. NIRS have been experimentally used in all stages of stroke and may complement the established diagnostic and monitoring tools. NIRS also provide pathophysiological approach during rehabilitation and secondary prevention of stroke. The hemodynamic response to seizure has long been a topic for discussion in association with the neuronal damage resulting from convulsion. One critical issue when unpredictable events are to be detected is how continuous NIRS data are analyzed. Besides, NIRS studies targeting pathophysiological aspects of migraine may contribute to a deeper understanding of mechanisms relating to aura of migraine. NIRS monitoring may play an important role to trend regional hemodynamic distribution of flow in real time and also highlights the pathophysiology and management of not only patients with OI symptoms but also those with various neurologic diseases.

Comparison of the Characteristics between the Dynamical Model and the Artificial Intelligence Model of the Lorenz System (Lorenz 시스템의 역학 모델과 자료기반 인공지능 모델의 특성 비교)

  • YOUNG HO KIM;NAKYOUNG IM;MIN WOO KIM;JAE HEE JEONG;EUN SEO JEONG
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.28 no.4
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    • pp.133-142
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    • 2023
  • In this paper, we built a data-driven artificial intelligence model using RNN-LSTM (Recurrent Neural Networks-Long Short-Term Memory) to predict the Lorenz system, and examined the possibility of whether this model can replace chaotic dynamic models. We confirmed that the data-driven model reflects the chaotic nature of the Lorenz system, where a small error in the initial conditions produces fundamentally different results, and the system moves around two stable poles, repeating the transition process, the characteristic of "deterministic non-periodic flow", and simulates the bifurcation phenomenon. We also demonstrated the advantage of adjusting integration time intervals to reduce computational resources in data-driven models. Thus, we anticipate expanding the applicability of data-driven artificial intelligence models through future research on refining data-driven models and data assimilation techniques for data-driven models.

Natural Frequency Analysis of Sleeper Floating Track System using Modal Test Technique (모달시험기법을 이용한 침목플로팅궤도의 고유진동수 분석)

  • Jung-Youl Choi
    • The Journal of the Convergence on Culture Technology
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    • v.10 no.3
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    • pp.833-838
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    • 2024
  • The urban railway sleeper floating track(STEDEF) is a structure that structurally separates the sleepers and the concrete bed using sleeper boots and resilience pads to reduce vibration transmitted to the concrete bed. Recently, the resilience pads of sleeper floating tracks that have been in use for more than 20 years are deteriorating. Accordingly, in order to evaluate the performance of the resilience pad, a static spring stiffness test is being performed after extracting the resilience pad. This evaluation technique is performed after replacing the resilience pad in use. However, the track natural frequency can change depending on the resilience pad spring stiffness and the uplift and subsidence of the concrete bed. In this study, modal testing technique was used to evaluate the track natural frequency. For this purpose, the sleeper boots material, resilience pad spring stiffness, and track natural frequency according to concrete bed uplift and subsidence were measured using modal tests at a laboratory scale. It was analyzed that the natural frequency of the sleeper floating track was directly affected by changes in the spring stiffness of the resilience pad. In addition, the change in natural frequency due to the uplift and subsidence of the concrete bed was also found to be large. Therefore, it is believed that the modal test technique presented in this study can be used to evaluate the resilience pad deterioration and voided sleepers.

A Study on Daesoon Jinrihoe's View of Time (II): Focusing on Re-calibrated and Governed Time (대순진리회의 시간관 연구 (II) - 재조정되고 통치되는 시간을 중심으로 -)

  • Cha Seon-keun
    • Journal of the Daesoon Academy of Sciences
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    • v.49
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    • pp.1-52
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    • 2024
  • One notable characteristic of Daesoon Jinrihoe's view of time, is its perception of time as a passive entity. This signifies that, in the context of Daesoon Jinrihoe, time is subject to influence through experience, specifically undergoing re-calibration or governance. The summary of this perspective is as follows: Firstly, Daesoon Jinrihoe's understanding of time incorporates a historical viewpoint characterized by the law of entropy, which posits that disorder increases as time progresses. Secondly, within the world established by Daesoon Jinrihoe, time experiences transformation before and after the Great Opening. Prior to this event, time follows a helical model characterized by increasing chaotic disorder, whereas in the Later World, the helical model reflects only Mutual Beneficence, symbolizing progress and development in the era. Thirdly, the Great Opening re-calibrates time, serving as the criterion for determining human life. Prior to the Great Opening, time recorded human life in a manner marked by Mutual Contention, whereas afterward, it will record human life as being characterized by Mutual Beneficence. This re-calibration of time leads precisely to directional (spatial) re-calibration. Fourthly, the Great Opening re-calibrates the order of time and space. In the Former World, space held precedence over time. However, the Great Opening changes this dynamic, with time assuming precedence over space in the Later World. In this context, the integration of time and space establishes a worldview. Fifthly, in the worldview of Daesoon Jinrihoe, time serves as a vehicle for the governance of the Supreme God. The Supreme God governs all things by controlling time, orchestrating changes spanning birth (saeng, 生), growth (jang, 長), harvest (yeom, 斂), and storage (jang, 藏), much like how problems are resolved through natural progress without requiring deliberate action. Lastly, time functions as a medium through which entities that strive to achieve unification with the Dao come to govern all things. For this reason, achieving unification with the Dao in Daesoon Jinrihoe specifically refers to the governance of time.

New Analytical Method to Identify Chromium Species, Cr(III) and Cr(VI), and Characteristic Distribution of Chromium Species in the Han River (한강수계해서의 크롬(III,VI) 종(species) 분포 및 분석방법 정립)

  • Jeong, Gwan-Jo;Kim, Dok-Chan;Park, Hyeon
    • Journal of Korean Society of Environmental Engineers
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    • v.27 no.6
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    • pp.590-598
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    • 2005
  • An adequate method to identify chromium separation, Cr(III) and Cr(VI), in water samples were studied by using High Performance Liquid Chromatography(HPLC) coupled with Inductively Coupled Plasma Mass Spectometer(ICP-MS) equipped with Dynamic Reaction Cell(DRC). The characteristic distribution of Cr(III) and Cr(VI) in the raw water taken at the six water intake stations in Seoul, was analyzed by the method developed by the authors. The chromium species separated by HPLC was isocratically conducted by using tetrabutylammonium phosphate monobasic(1.0 mM TBAP), ethylenediaminetetraacetic acid(0.6 mM EDTA) and 2% v/v methanol as the mobile phase. 5% v/v methanol was used as flushing solvent. A reactive ammonia($NH_3$) gas was used to eliminate the potential interference of $ArC^+$. Several Parameters such as solvent ratio, pH, flow rate and sample injection volume were optimized for the successful separation and reproducibility. Although it has been reported thai the separation sensitivity of Cr(III) is superior to that of Cr(VI), the authors observed Cr(VI) was more sensitive than Cr(III) when ammonia($NH_3$) gas was used as the reaction gas. It took less than 3 minutes to analyze chromium species with this method and the estimated detection limits were $0.061\;{\mu}g/L$ for Cr(III) and $0.052\;{\mu}g/L$, for Cr(VI). According to the results from the analysis on chromium species in the raw water of the six intake stations, the concentrations of Cr(III) ranged from 0.048 to $0.064\;{\mu}g/L$(ave. $0.054\;{\mu}g/L$) while that of Cr(VI) ranged from 0.014 to $0.023\;{\mu}g/L$(ave. $0.019\;{\mu}g/L$). Recovery ratio was very high($90.1{\sim}94.1%$). There were two or three times more Cr(III) than Cr(VI) in the raw water.

Differentiation of True Recurrence from Delayed Radiation Therapy-related Changes in Primary Brain Tumors Using Diffusion-weighted Imaging, Dynamic Susceptibility Contrast Perfusion Imaging, and Susceptibility-weighted Imaging (확산강조영상, 역동적조영관류영상, 자화율강조영상을 이용한 원발성 뇌종양환자에서의 종양재발과 지연성 방사선치료연관변화의 감별)

  • Kim, Dong Hyeon;Choi, Seung Hong;Ryoo, Inseon;Yoon, Tae Jin;Kim, Tae Min;Lee, Se-Hoon;Park, Chul-Kee;Kim, Ji-Hoon;Sohn, Chul-Ho;Park, Sung-Hye;Kim, Il Han
    • Investigative Magnetic Resonance Imaging
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    • v.18 no.2
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    • pp.120-132
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    • 2014
  • Purpose : To compare dynamic susceptibility contrast imaging, diffusion-weighted imaging, and susceptibility-weighted imaging (SWI) for the differentiation of tumor recurrence and delayed radiation therapy (RT)-related changes in patients treated with RT for primary brain tumors. Materials and Methods: We enrolled 24 patients treated with RT for various primary brain tumors, who showed newly appearing enhancing lesions more than one year after completion of RT on follow-up MRI. The enhancing-lesions were confirmed as recurrences (n=14) or RT-changes (n=10). We calculated the mean values of normalized cerebral blood volume (nCBV), apparent diffusion coefficient (ADC), and proportion of dark signal intensity on SWI (proSWI) for the enhancing-lesions. All the values between the two groups were compared using t-test. A multivariable logistic regression model was used to determine the best predictor of differential diagnosis. The cutoff value of the best predictor obtained from receiver-operating characteristic curve analysis was applied to calculate the sensitivity, specificity, and accuracy for the diagnosis. Results: The mean nCBV value was significantly higher in the recurrence group than in the RT-change group (P=.004), and the mean proSWI was significantly lower in the recurrence group (P<.001). However, no significant difference was observed in the mean ADC values between the two groups. A multivariable logistic regression analysis showed that proSWI was the only independent variable for the differentiation; the sensitivity, specificity, and accuracy were 78.6% (11 of 14), 100% (10 of 10), and 87.5% (21 of 24), respectively. Conclusion: The proSWI was the most promising parameter for the differentiation of newly developed enhancing-lesions more than one year after RT completion in brain tumor patients.

A Dynamic Behavior Evaluation of the Curved Rail according to Lateral Spring Stiffness of Track System (궤도시스템의 횡탄성에 따른 곡선부 레일의 동적거동평가)

  • Kim, Bag-Jin;Choi, Jung-Youl;Chun, Dae-Sung;Eom, Mac;Kang, Yun-Suk;Park, Yong-Gul
    • Proceedings of the KSR Conference
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    • 2007.11a
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    • pp.517-528
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    • 2007
  • Domestic or international existing researches regarding rail damage factors are focused on laying, vehicle conditions, driving speed and driving habits and overlook characteristics of track structure (elasticity, maintenance etc). Also in ballast track, as there is no special lateral spring stiffness of track also called as ballast lateral resistance in concrete track, generally, existing study shows concrete track has 2 time shorter life cycle for rail replacement than ballast track due to abrasion. As a result of domestic concrete track design and operation performance review, concrete track elasticity is lower than track elasticity of ballast track resulting higher damage on rail and tracks. Generally, concrete track has advantage in track elasticity adjustment than ballast track and in case of Europe, in concrete track design, it is recommended to have same or higher performance range of vertical elastic stiffness of ballast track but domestically or internationally review on lateral spring stiffness of track is very minimal. Therefore, through analysis of service line track on site measurement and analysis on performance of maintenance, in this research, dynamic characteristic behaviors of commonly used ballast and concrete track are studied to infer elasticity of service line track and experimentally prove effects of track lateral spring stiffness that influence curved rail damage as well as correlation between track elasticity by track system and rail damage to propose importance of appropriate elastic stiffness level for concrete and ballast track.

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Spectroscopic Studies on U(VI) Complex with 2,6-Dihydroxybenzoic acid as a Model Ligand of Humic Acid (분광학을 이용한 흄산의 모델 리간드인 2,6-Dihydroxybenzoic acid와 우라늄(VI)의 착물형성 반응에 관한 연구)

  • Cha, Wan-Sik;Cho, Hye-Ryun;Jung, Euo-Chang
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.9 no.4
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    • pp.207-217
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    • 2011
  • In this study the complex formation reactions between uranium(VI) and 2,6-dihydroxybenzoate (DHB) as a model ligand of humic acid were investigated by using UV-Vis spectrophotometry and time-resolved laser-induced fluorescence spectroscopy (TRLFS). The analysis of the spectrophotometric data, i.e., absorbance changes at the characteristic charge-transfer bands of the U(VI)-DHB complex, indicates that both 1:1 and 1:2 (U(VI):DHB) complexes occur as a result of dual equilibria and their distribution varies in a pH-dependent manner. The stepwise stability constants determined (log $K_1$ and log $K_2$) are $12.4{\pm}0.1$ and $11.4{\pm}0.1$. Further, the TRLFS study shows that DHB plays a role as a fluorescence quencher of U(VI) species. The presence of both a dynamic and static quenching process was identified for all U(VI) species examined, i.e., ${UO_2}^{2+}$, $(UO_2)_2{(OH)_2}^{2+}$, and $(UO_2)_3{(OH)_5}^+$. The fluorescence intensity and lifetimes of each species were measured from the time-resolved spectra at various ligand concentrations, and then analyzed based on Stern-Volmer equations. The static quenching constants (log $K_s$) obtained are $4.2{\pm}0.1$, $4.3{\pm}0.1$, and $4.34{\pm}0.08$ for ${UO_2}^{2+}$, $(UO_2)_2{(OH)_2}^{2+}$, and $(UO_2)_3{(OH)_5}^+$, respectively. The results of Stern-Volmer analysis suggest that both mono- and bi-dentate U(VI)-DHB complexes serve as groundstate complexes inducing static quenching.