• Title/Summary/Keyword: Elasticity of substitution

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Fundamental Study of Manufacture Possibility and Composition Ratio of Sludge-Particle Board (슬러지-파티클 보드의 제조(製造) 가능성(可能性) 및 구성비율(構成比率)에 관한 기초연구(基礎硏究))

  • Lee, Phil-Woo;Yoon, Hyoung-Un;Kim, Dae-Jun;Son, Jung-Il
    • Journal of the Korean Wood Science and Technology
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    • v.21 no.2
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    • pp.57-65
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    • 1993
  • The aim of this research was to manufacture sludge-particle board using paper sludge with wood particle and to investigate physical and mechanical properties of various sludge-particle boards, fabricated with ratios of sludge to particle of 10 to 90, 20 to 80, 30 to 70, 40 to 60 and 50 to 50(oven dry weight based). Sludge-particle boards were manufactured by urea-formaldehyde resin, 0.8 target specific gravity, and 10mm thickness. It was possible to manufacture sludge-particle board as the same processing in the present particleboard manufacturing system. This sludge-particle board have different properties as composition ratios of sludge and particle. And sludge-particle board made from 10 percent to 20 percent of sludge mixing ratio have similar mechanical properties compared with control particleboard. Especially, the sludge-particle board made from 10 percent to 40 percent mixing ratios of sludge have superior to control particleboard in internal bond, screw withdrawal holding strength and modulus of elasticity. In the case of dimensional stability, water absorption was increased and thickness swelling was decreased as increased with sludge mixing proportion. The sludge-particle board made of different mixing ratios of our laboratory design was able to concluded that there is possibility of partial substitution of wood particle materials.

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Sustainable SCC with high volume recycled concrete aggregates and SCMs for improved mechanical and environmental performances

  • Zhanggen Guo;Ling Zhou;Qiansen Sun;Zhiwei Gao;Qinglong Miao;Haixia Ding
    • Advances in concrete construction
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    • v.16 no.6
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    • pp.303-316
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    • 2023
  • Using industrial wastes and construction and demolition (C&D) wastes is potentially advantageous for concrete production in terms of sustainability improvement. In this paper, a sustainable Self-Compacting Concrete (SCC) made with industrial wastes and C&D wastes was proposed by considerably replacing natural counterparts with recycled coarse aggregates (RCAs) and supplementary cementitious materials (SCMs) (i.e., Fly ash (FA), ground granulated blast furnace slag (GGBS) and silica fume (SF)). A total of 12 SCC mixes with various RCAs and different combination SCMs were prepared, which comprise binary, ternary and quaternary mixes. The mechanical properties in terms of compressive strength and static elasticity modulus of recycled aggregates (RA-SCC) mixes were determined and analyzed. Microstructural study was implemented to analyze the reason of improvement on mechanical properties. By means of life cycle assessment (LCA) method, the environmental impacts of RA-SCC with various RCAs and SCMs were quantified, analyzed and compared in the system boundary of "cradle-to-gate". In addition, the comparison of LCA results with respect to mechanical properties was conducted. The results demonstrate that the addition of proposed combination SCMs leads to significant improvement in mechanical properties of quaternary RA-SCC mixes with FA, GGBS and SF. Furthermore, quaternary RA-SCC mixes emit lowest environmental burdens without compromising mechanical properties. Thus, using the combination of FA, GGBS and SF as cement substitution to manufacture RA-SCC significantly improves the sustainability of SCC by minimizing the depletion of cement and non-renewable natural resources.

The Effect of Combinations of Electric Arc Furnace Slag and Lime Stone aggregates on Engineering Properties of Ultra High Strength Concrete with 80MPa (전기로 산화슬래그 잔골재와 석회암 골재의 조합사용이 80MPa급 초고강도 콘크리트의 공학적 특성에 미치는 영향)

  • Han, Min-Cheol;Moon, Byeong-Yong
    • Journal of the Korean Recycled Construction Resources Institute
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    • v.5 no.3
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    • pp.253-260
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    • 2017
  • The aim of research is to investigate various physical properties of ultra high strength concrete of 80MPa class using a combination of limestone aggregate and electronic arc furnace oxidizing slag aggregate. For aggregate combinations, granite and limestone are used for coarse aggregate, granite and limestone are also used for fine aggregate. And also, limestone fine aggregate is replaced by electronic arc furnace oxidizing slag aggregate of 25% and 50%. Test results indicated that flowability and compressive strength increased when limestone fine aggregate was used compared to that using granite fine aggregate due to higher modulus of elasticity by limestone. Also substitution of electronic arc furnace oxidizing slag aggregate resulted in a decrease of compressive strength slightly. It is found that the use of electronic arc furnace oxidizing slag aggregate and limestone aggregate would be favorable for reducing the autogenous shrinkage by as much as 9~25%.

A study on the Mechanical Properties of Concrete using Electronic Waste as Fine Aggregate (전자폐기물을 잔골재로 적용한 콘크리트의 역학적 특성에 관한 연구)

  • Kim, Yong-Moo;Choi, So-Yeong;Kim, Il-Sun;Yang, Eun-Ik
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.22 no.2
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    • pp.90-97
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    • 2018
  • The quantities of electronic waste have been increased rapidly, and was caused variety problems such as environmental pollution or dissipation of resource. So, it needed to development of recycling technology about heavy metal in the electronic waste. Meanwhile, filler material (concrete or mortar) was used for shielding radioactive waste, however, it did not used materials that it is proved radiation shielding performance. So, there is a lack of confidence in the shielding performance. Therefore, in this paper, mechanical properties of concrete was evaluated for the applicability using electronic waste as fine aggregate of filler material. From the test results, compressive and flexural strength and elasticity modulus and the micro pore in the $1{\mu}m$ range was significantly affected by substitution of electronic waste, however, it could be improved the performance by using mineral admixture as binder. So, it is shown that the electronic waste could be applicable as fine aggregate of filler material.

Monetary Policy in Open versus Closed Economies in the Presence of Distortions: A Simple Transformation and Its Applications (왜곡이 있는 경우 개방경제와 폐쇄경제의 통화정책 비교: 간단한 변환과 적용)

  • Jung, Kyu-Chul
    • KDI Journal of Economic Policy
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    • v.36 no.1
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    • pp.81-106
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    • 2014
  • This paper compares the monetary policy problem in open economies with that in closed economies. It is found that the monetary policy problems in open and closed economies are isomorphic even in the presence of distortions in a steady state and hence the optimal monetary policies have similar properties. On the other hand, the monetary policy maker in open economies has a distorted incentive to manipulate the terms-of-trade. Because of the additional distortion in open economies, there exist gains from international monetary policy cooperation even in the case of a unit intertemporal elasticity of substitution, in contrast to the literature that abstracts from distortions in a steady state. Also, it is found that in the presence of distortions inflation bias is decreasing in openness, which is line with empirical evidence. In addition, this paper presents a simple transformation so that methods in closed-economy models are easily applicable to open-economy models.

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House Price Channel: Effects of House Prices on Macroeconomy (주택가격채널: 거시경제에 미치는 영향을 중심으로)

  • Song, Inho
    • KDI Journal of Economic Policy
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    • v.36 no.4
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    • pp.171-205
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    • 2014
  • This paper investigates the manner in which house prices affect macroeconomic variables through a house price channel by applying the method of Iacoviello (2005) to Korean data, and establishing a DSGE model with complementarity. This paper found that higher LTV ratio coupled with stronger complementarity results in the co-movement in both consumption and housing. For instance, the results show that when the LTV ratio and complementarity stands respectively at 50% and 0.42, an 1% rise in house prices increases consumption by 0.057%, and when the complementarity parameter increases to 0.52 with LTV remains unchanged at 50%, consumption rises by 0.047% per 1% increase in house prices. An increase in house prices leads credit constraints for borrowers to become more loose as value of a house rises as a collateral. The increase in household credit enables more consumer spending, eventually leading to increased consumption. A key link in which house prices are connected to macroeconomic variables is change in consumption. To put it simply, a rise in house prices leads to an increase in consumption, which consequently impacts the overall macro-economy. At this point, complementarity is found, in that the elasticity of intra-temporal substitution between housing and consumption is estimated at 0.42, which plays an important role in the house price channel by amplifying the effects of house prices on consumption.

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Local Autonomy, National Economy and Local Public Finance (지방자치(地方自治)와 국민경제(國民經濟) 및 지방재정(地方財政))

  • Lee, Kye-sik
    • KDI Journal of Economic Policy
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    • v.13 no.2
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    • pp.41-67
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    • 1991
  • Local autonomy of Korea's lower-level local council has been reinstated following elections last March for the first time in thirty years. Last June, we had elections for the upper-level local council. Mayors, governors, and administrative chiefs of cities, provinces and other local government bodies are slated for elections in the first half of next year. The impacts of local autonomy are taking effect in not only the political sphere, but also the administrative and economic spheres. In fact, it seems that some modification of all economic policy making and administration is inevitable. Since the initiation of local autonomy, in order to make the economy work more efficiently, it has become quite important to examine the impact of local autonomy on the national economy. The areas of local autonomy include independent legislative power, administrative power, organizational power, and most important of all, the independent public financial power of the local governments. The purpose of this paper is to examine the effects of local autonomy on the national economy and ways of enhancing the role of local public finance to facilitate settlement and development of the local autonomy system. Local autonomy will contribute to the continuous growth of our economy, allow balanced development, and generate greater efficiency. However, local autonomy can also incur economic costs causing at times short-term price instability, inefficient resource allocation, through tax competition and tax exporting, and insolvency of local government due to abusive fiscal operation. To reduce these side effects, different alternatives must be considered. Local autonomy systems generally provide more efficient resource allocation than centralization. But in the model used in Chapter 3 of this paper, the relative efficiencies of both local autonomy and centralization are determined by comparing the elasticity of substitution between national public goods and local public goods. If the elasticity of substitution is bigger than one, centralization provides a more efficient resource allocation. The development of local autonomy could be attained through democratization of the local public finance system including the following three propositions. I) The independence of public financial power of local governments should be established over central government. Furthermore, a democratically operated scheme of intergovernmental fiscal coordination is especially necessary. 2) In the operation of local finance, direct democracy is needed to induce the voluntary participation of local residents. The residents can take part in planning both the local budget and the development of the community. To attain this goal, all the results of local finance operations should be made public. 3) Among economic ill-effects of the local autonomy system, the most serious one is the possibility of insolvency of local governments. Therefore, measures to limit abusive spending by the local governments should be introduced, such as the fiscal restraints system adopted in the United States.

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Retirement Behaviors of Two Wage Earners Households (맞벌이가구의 은퇴행태에 대한 실증분석)

  • Choi, Seung-Hyun
    • Journal of Labour Economics
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    • v.29 no.1
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    • pp.129-152
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    • 2006
  • The purpose in this study is to analyze the effect of expected public pension assets (or social security wealth) and retirement incentives on retirement behaviors of two wage earners households. For the purpose of the study, an empirical analysis was conducted. In the empirical step, it was found that the empirical results were significant for men, but not for women namely, statistically asymmetric if behaviors of two couples are interdependent. The cause for the statistically asymmetric results were then determined. The Bivariate Probit model was used for estimation in the first step and the KLIPS(Korean Labor and Income Panel Study) was used as data for estimation. According to the empirical analysis, the results showed statistically significant asymmetry for men, however not for women, in expected public pension assets and other retirement incentives, non-wage assets, age difference, spouse's health status, spouse's monthly wages per hour and aging of their spouse In this study, cause of statistically asymmetric result in asymmetric complementarities of leisure of couples were found, then explained through different methods of comparison from the most recent studies. First, spouse's cross wage elasticity of self leisure demand(retirement) was calculated and determined whether complementarities of leisure of couples is positive or negative. Then, the degree of complementarities of leisure was distinguished in comparison with the relative size of two cross elasticities. Thus, men have relatively strong complementarities of leisure. But for women, it may roughly cancel out due to the substitution effect and the income effect. Therefore, women have relatively weak complementarities of leisure.

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Influencing Factors to Increase the Wage Differentials between Large and Subcontracted Small-Medium Enterprises in Korea (위탁대기업과 협력중소기업 간 임금격차 확대 영향요인)

  • Kim, Hye Jeong;Bai, Jin Han;Park, Chang Gui
    • Journal of Labour Economics
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    • v.40 no.1
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    • pp.1-36
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    • 2017
  • This study aimed to analyze influencing factors to increase the wage differential between large enterprise and subcontracted small-medium enterprises by using panel data composed of 19 manufacturing industries for 16 years from 1999 to 2014. According to the results of analysis, in large enterprises the elasticity of substitution between the labor inputs and the subcontracted product supplies from small-medium enterprises was significantly less than 1. So, the increase in wages of workers of large enterprises, whose degree of employment protection was relatively high, seemed to increase the share of wage cost in total cost and was resulted to decrease the cost share of subcontracted product supplies significantly. This was interpreted to be able to exert a negative influence upon the price of subcontracted product supplies and the wages of workers in subcontracted small-medium enterprises, and, therefore, to increase the wage differentials between large enterprises and subcontracted small-medium enterprises. Furthermore, it was also found that the increases in the labor union participation rate at large enterprises and the openness rate of the industry concerned were contributing to make such effects much stronger significantly. In order to mitigate the wage differentials and the polarizing trend in labor market, we can suggest to establish a certain kind of flexible wage system and to introduce co-bargaining practices with the workers of subcontracted small-medium enterprises within large enterprises, and also for the workers of small-medium enterprises, to prepare new social systems to upgrade their human resources and job skills drastically.

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Synthesis of tung oil-based thermoset resin and its thermal·mechanical properties (Tung oil을 이용한 바이오 기반 열경화성 수지 합성 및 이의 열적·물리적 특성 연구)

  • Kim, Han-Eol;Lee, Jong-eun;Nam, Byeong-Uk
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.19 no.11
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    • pp.24-30
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    • 2018
  • Various investigations of vegetable oil extracted from natural resources are underway because of their low cost and environmental value. On the other hand, the double bonds in vegetable oil should be substituted to other high reactive functional groups due to their low reactivity for synthesizing bio-polymeric materials. ${\alpha}$-eleostearic acid, which consists of a conjugated triene, is the main component of tung oil, and the conjugated triene allows tung oil to have higher reactivity than other vegetable oils. In this study, tung oil was copolymerized with styrene and divinylbenzene to make a thermoset resin without any substitution of functional groups. The thermal and mechanical properties were measured to examine the effects of the composition of each monomer on the synthesized thermoset resin. The results showed that the products have only one Tg, which means the synthesized thermoset resins are homogeneous at the molecular level. The mechanical properties show that tung oil acts as a soft segment in the copolymer and makes a more elastic product. On the other hand, divinylbenzene acts as a hard segment and makes a more brittle product.