• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.89-119
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• 1992

This paper purports to analyze the economic rationale of compensating balance requirements and its impact on money supply. This practice has recently been severely criticized for artificially increasing the money supply and, therefore, limiting the nation's aggregate lending policy under the tight constraint of the given money supply target. A review of the existing literature implies that compensating balance requirements is a banking practice which leads to corrections in the distortion of financial resource allocation due to the imperfection of financial market stemming from asymmetric information and/or financial regulations on deposit and lending rates. Therefore, the economic rationale of this practice is deemed to improve the efficiency of financial resource allocation. On the other hand, the macroeconomic impact of compensating balance requirements on the money supply depends on the impact on the money multiplier, which in turn depends on the desired ratio of deposit that people wish to maintain on the money borrowed from the banking system, and on the desired reserve ratio that the banking system would like to hold for deposit withdrawal. If the compensating balance requirements could increase the desired ratio of deposit to borrowing (bank lending), it will increase the available amount of total reserve within the banking system and, in turn, the money multiplier. However, this channel has not been fully analyzed in the literature, and the direction of the effect is ambiguous. If the practice could reduce the turn-over rate of deposit and, thereby, reduce the desired reserve ratio of the banking system, then it will also increase the money multiplier. While this channel operates unambiguously toward increasing the money multiplier, this effect will be limited by the extent that the banking system holds the excess reserve over the required reserve because the excess reserve will set the maximum amount for the desired reserve to fall. This paper tries to determine the effect on the money supply by empirically estimating the multiplier and the desired ratio of deposit to lending equations as functions of the ratio of compensating balance to the related lending, which is not observable and is estimated for the regression purpose. The results suggest that the effect of compensating balance requirements on the money supply in Korea does not exist or is very tenuous even if it could operate. Therefore, this paper concludes that the well publicized policy of cross cancelling the compensating balance and the related lending will not be effective at controlling the money supply and increasing the amount of loans without expanding the money supply.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.40 no.2
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• pp.142-149
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• 1995

This study was conducted to investigate the relationships between yearly variation of climatic components and yearly variations of productivity in monoculture cotton. In addition, correlation coefficients among yield and yield components were estimated. The data of yield and yield components from the four varieties(Kinggus, Yongdang local. 113-4, 380) were collected from 1978 to 1992 in Mokpo area. The meteorological data gathered at the Mokpo Weather Station for the same period were used to find out the relationships between climatic components and productivity. Yearly variation of the amount of precipitation and number of stormy days in July are large with coefficients of the variations(C.V)84.89 and 97.05%, respectively, while yearly variation, of the average temperature, maximum temperature, minimum temperature from May to Sep. are relatively small. Seed cotton yield before frost in Sep. and Oct. very greatly with C.V. of 68.77, 78.52%, respectively. Number of boll bearing branches and lint percentage show more or less small in C.V. with 11.77 and 19.13%, respectively and flowering date and boll opening date show still less variation. Correlation coefficients between precipitation in May and number of boll bearing branches, duration of sunshine in July and number of bolls per plant, maximum temperature in July and total seed cotton before the frost in Sep., Oct., and Nov. evaporation in Aug. are positively sig-nificant at the 1% level. There are highly significantly positive correlated relationships among yield(total seed cotton) and yield components. Total seed cotton yield(Y) can be predicted by multiple regression equation with independent variables of climatic factors in July such as monthly averages of average temperature($X_1$), maximum temperature($X_2$) and minimum temperature($X_3$), monthly amount of precipitation ($X_4$), evaporation($X_5$), monthly average of relative humidity($X_6$), monthly hours with sunshine($X_7$) and number of rainy days($X_8$). The equation is estimatedas Y =-1080.8515 + 144.7133$X_1$+15.8722$X_2$ + 164.9367$X_3$ + 0.0802$X_4$ + 0.5932$X_5$ + 11.3373$X_6$ + 3.4683$X_7$- 9.0846$X_8$. Also, total seed cotton yield(Y) can be predicted by the same method with climatic components in Aug., Y =2835.2497 + 57.9134$X_1$ - 46.9055$X_2$ - 41.5886X$_3$ + 1.2559$X_5$ - 21.9687$X_6$ - 3.3763$X_7$- 4.1080$X_8$- 17.5586$X_9$. And the error between observed and theoretical yield were less with approached linear regression.

• The Journal of Engineering Geology
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• v.15 no.3
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• pp.337-348
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• 2005

Jurassic granite from Pocheon area were tested to investigate the effect of microcracks on mechanical properties of the granite. Three oriented core specimens were used for uniaxial compressive tests and each core specimen are perpendicular to the axes'R'(rift plane),'c'(grain plane) and'H'(hardway plane), respectively Among vacious elastic constants, the variation of Poisson's ratio as function of the directions was examined. From the related chart between ratio of failure strength and Poisson's ratio, H-specimen shows the highest range in Poisson's ratio and Poisson's ratio decreases in the order of C-specimen and R-specimen. The curve pattern is nearly linear in stage $I\simIII$ but the slope increases abruptly in stage H-3. As shown in the related chart, diverging point of a curve is formed when ratio of failure strength is $0.92\sim0.96$ Stage IV -3 is out of elastic region. The behaviour of rock in the four fracturing stages was analyzed in term of the stress-volumetric strain me. From the stress increment-volumetric strain equations governing the behaviour of rock, characteristic material constants, a, n, Q, m and $\varepsilon_v^{mcf}$, were determined. Among these, inherent microcrack porosity$(a, 10^{-3})$ and compaction exponent(n) in the microcrack closure region(stage I ) show an order of $a^R(3.82)>a^G(3.38)>a^H(2.32)\;and\;n^R(3.69)>n^G(2.79)>n^H(1.99)4, respectively. Especially, critical volumetric microcrack strain($\varepsilon_v^{mcf}$) in the stage W is highest in the H-specimen, normal to the hardway plane. These results indicate a strong correlation between two major sets of microcracks and mechanical properties such as Poisson's ratio and material constants. Correlation of strength anisotropy with microcrack orientation can have important application in rock fracture studies.

• Korean Journal of Agricultural and Forest Meteorology
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• v.11 no.1
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• pp.39-47
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• 2009

The importance of securing water resources and their efficient management has attracted more attention recently due to water deficit. In water budget analysis, however, evapotranspiration(${\lambda}E$) has been approximated as the residual in the water balance equation or estimated from empirical equations and assumptions. To minimize the uncertainties in these estimates, it is necessary to directly measure ${\lambda}E$. In this study, using the eddy covariance technique, we have measured ${\lambda}E$ in a mixed forest in the Seolmacheon catchment in Korea from September 2007 to December 2008. During the growing season(May-July), ${\lambda}E$ in this mixed forest averaged about $2.2\;mm\;d^{-1}$, whereas it was on average $0.5\;mm\;d^{-1}$ during the non-growing season in winter. The annual total ${\lambda}E$ in 2008 was $581\;mm\;y^{-1}$, which is about 1/3 of the annual precipitation of 1997 mm. Despite the differences in the amount and frequency of precipitation, the accumulated ${\lambda}E$ during the overlapping period(i.e., September to December) for 2007 and 2008 was both ${\sim}110$ mm, showing virtually no difference. The omega factor, which is a measure of decoupling between forest and the atmosphere, was on average 0.5, indicating that the contributions of equilibrium ${\lambda}E$ and imposed ${\lambda}E$ to the total ${\lambda}E$ were about the same. The results suggest that ${\lambda}E$ in this mixed forest was controlled by various factors such as net radiation, vapor pressure deficit, and canopy conductance. In this study, based on the direct measurements of ${\lambda}E$, we have quantified the relative contribution of ${\lambda}E$ in the water balance of a mixed forest in the Seolmacheon catchment. In combination with runoff data, the information on ${\lambda}E$ would greatly enhance the reliability of water budget analysis in this catchment.

• Food Science and Preservation
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• v.12 no.6
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• pp.617-623
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• 2005

Response surface methodology (RSM) was applied to microwave-assisted process (MAP) extraction for effective components from Mosla dianthera M. Microwave power (2,450 MHz, 0-160 W) and extraction time (1-5 min) were used as independent variables ($X_i$) for central composite design to yield 10 different extraction conditions. Optimum conditions were predicted for dependent variables of $75\%$ ethanol extracts, such as total yield($Y_1$), total phenolics($Y_2$), total flavonoids($Y_3$), and electron donation ability($Y_4$, EDA). Determination coefficients ($R^2$) of regression equations for dependent variables ranged from 0.8397 to 0.9801, and microwave power was observed to be more influential than extraction time in MAP. The maximal values of each dependent variable predicted at different extraction conditions of microwave power (W) and extraction time (min) were as follows; $6.76\%$ of total yield at 142.00 W and 4.36 min, 78.68 mg/g of total phenolics at 136.78 W and 4.40 min, 6.75 mg/g of total flavonoids at 159,69 W and 3.17 min, and $49.81\%$ of EDA at 133.87 W and 4.47 min, respectively. The superimposed contour maps for maximizing dependent variables illustrated the MAP conditions of 79 to 113 W in power and of 2.73 to 3.84 min in extraction time.

• Journal of Radiation Protection and Research
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• v.28 no.3
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• pp.199-206
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• 2003

Because the MIRD phantom, the representative mathematical phantom was developed for the calculation of internal radiation dose, and simulated by the simplified mathematical equations for rapid computation, the appropriateness of application to external dose calculation and the closeness to real human body should be justified. This study was intended to modify the MIRD phantom according to the comparison of the organ absorbed doses in the two phantoms exposed to monoenergetic broad parallel photon beams of the energy between 0.05 MeV and 10 MeV. The organ absorbed doses of the MIRD phantom and the Zubal yokel phantom were calculated for AP and PA geometries by MCNP4C, general-purpose Monte Carlo code. The MIRD phantom received higher doses than the Zubal phantom for both AP and PA geometries. Effective dose in PA geometry for 0.05 MeV photon beams showed the difference up to 50%. Anatomical axial views of the two phantoms revealed the thinner trunk thickness of the MIRD phantom than that of the Zubal phantom. To find out the optimal thickness of trunk, the difference of effective doses for 0.5 MeV photon beams for various trunk thickness of the MIRD phantom from 20 cm to 36 cm were compared. The optimal thunk thickness, 24 cm and 28 cm for AP and PA geometries, respectively, showed the minimum difference of effective doses between the two phantoms. The trunk model of the MIRD phantom was modified and the organ doses were recalculated using the modified MIRD phantom. The differences of effective dose for AP and PA geometries reduced to 7.3% and the overestimation of organ doses decreased, too. Because MIRD-type phantoms are easier to be adopted in Monte Carlo calculations and to standardize, the modifications of the MIRD phantom allow us to hold the advantage of MIRD-type phantoms over a voxel phantom and alleviate the anatomical difference and consequent disagreement in dose calculation.

• Tuberculosis and Respiratory Diseases
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• v.58 no.3
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• pp.230-242
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• 2005

Background : Spirometry should be compared with the normal predictive values obtained from the same population using the same procedures, because different ethnicity and different procedures are known to influence the spirometry results. This study was performed to obtain the normal predictive values of the Forced Vital Capacity(FVC), Forced Expiratory Volume in 1 Second($FEV_1$), Forced Expiratory Volume in 6 Seconds($FEV_6$), and $FEV_1/FVC$ for a representative Korean population. Methods : Based on the 2000 Population Census of the National Statistical Office of Korea, stratified random sampling was carried out to obtain representative samples of the Korean population. This study was performed as a part of the National Health and Nutrition Survey of Korea in 2001. The lung function was measured using the standardized methods and protocols recommended by the American Thoracic Society. Among those 4,816 subjects who had performed spirometry performed, there was a total of 1,212 nonsmokers (206 males and 1,006 females) with no significant history of respiratory diseases and symptoms, with clear chest X-rays, and with no significant exposure to respiratory hazards subjects. Their residence and age distribution was representative of the whole nation. Mixed effect models were examined based on the Akaike's information criteria in statistical analysis, and those variables common to both genders were analyzed by regression analysis to obtain the final equations. Results : The variables affecting the normal predicted values of the FVC and $FEV_6$ for males and females were $age^2$, height, and weight. The variables affecting the normal predicted values of the $FEV_1$ for males and females were $age^2$, and height. The variables affecting the normal predicted values of the $FEV_1/FVC$ for male and female were age and height. Conclusion : The predicted values of the FVC and $FEV_1$ was higher in this study than in other Korean or foreign studies, even though the difference was < 10%. When compared with those predicted values for Caucasian populations, the study results were actually comparable or higher, which might be due to the stricter criteria of the normal population and the systemic quality controls applied to the whole study procedures together with the rapid physical growth of the younger generations in Korea.

• Journal of Korea Foresty Energy
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• v.25 no.1
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• pp.1-8
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• 2006

This study was conducted to develope allometric equations and to estimate biomass, stem density, and biomass expansion factor for the three stand age classes (I-II, III-IV, and V-VI) of Japanese larch (Larix leptolepis) in Gapyeong area. Total dry weight (kg/tree) and aboveground biomass (ton/ha) were 57.8 and 71.1 for I-II class, 185.4 and 195.6 for III-IV class, and 1047.9 and 180.6 for V-VI class, respectively. Total above and belowground biomass (ton/ha) was 96.3 for I-II class, 265.7 for III-IV class, and 244.5 for V-VI class. The proportion (%) of stem to total biomass increased with stand age class and was 53.9 for I-II class, 55.7 for III-IV class, and 57.7 for V-VI class, respectively, while that of foliage decreased and was 7.1 for I-II class, 4.5 for III-IV class, 2.3 for V-VI class. Ratios of root to aboveground biomass were 0.35 for all age classes. Stem density ($g/cm^3$) differed between I-II class and III-VI class. Aboveground and total biomass expansion factors were 1.31-1.44 and 1.26-1.94. Our results showed that differences in stand density with stand age classes might influence allometric equation, stem density and ratios of aboveground biomass to stem biomass and total biomass to stem biomass (biomass expansion factors).

• Journal of Korean Society of Forest Science
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• v.105 no.3
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• pp.275-283
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• 2016

The objective of this study was to examine carbon dynamics with biomass, soil $CO_2$ efflux, litter and root decomposition after tree density control in young Pinus densiflora stands. The stands were established with 50% thinning, clear-cut, and control stands with three pseudo-replicated plots and a bare soil plot in 8-year-old Pinus densiflora nursery field. Monthly measurements were conducted from March 2012 to February 2014 and aboveground biomass and coarse-roots were estimated by derived allometric equations. Average diameter growth at root collar in control and thinned was 0.89 cm and 1.48 cm per year, respectively, and the diameter growth of control stand was significantly higher than that of thinned stands (p<0.05). Total biomass was estimated to 5.17, $4.85kg\;C\;m^{-2}$ per year in control and thinned, respectively. Annual soil $CO_2$ efflux in control, thinned, clear cut, and bare soil was 3.71, 3.90, 4.17, $4.56kg\;CO_2\;m^{-2}\;yr^{-1}$, respectively and removing trees significantly increased soil $CO_2$ efflux (p<0.05). Net Ecosystem Production (NEP) was 1.57, 1.36, -0.67, $-1.25kg\;C\;m^{-2}\;yr^{-1}$ in control, thinned, clear cut and bare soil in the young Pinus densiflora stands. NEP was significantly decreased by removing trees. Thinning increased diameter at root collar and carbon of individual tree and recovered 86% of carbon removed by thinning after one-year. In addition, soil $CO_2$ efflux increased and NEP increased by thinning. Results of this study, tree density control such as thinning increased the carbon storage and growth of the young Pinus densiflora stands.

• Journal of Korean Society of Forest Science
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• v.109 no.2
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• pp.169-178
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• 2020

This study aimed to compare the organic carbon stocks of Cryptomeria japonica and Chamaecyparis obtusa stands established under a similar-site environmental condition in South Korea. C. japonica and C. obtusa stands adjacent to each other from 13 representative regions were chosen to evaluate the carbon stocks of tree biomass, forest floor, and mineral soils. Mean stand ages were 45 years for C. japonica and 43 years for C. obtusa, respectively. Tree density was significantly lower in C. japonica (989 tree ha^-1) than in C. obtusa (1,223 tree ha^-1) stands, whereas diameter at breast height and dominant tree height values were significantly higher in C. japonica (27.4 cm and 20.4 m, respectively), compared with C. obtusa (23.9 cm and 17.9 m, respectively) stands. The total carbon stocks of tree biomass were linearly related with stand basal area (C. japonica: r² = 0.82; C. obtusa: r²= 0.92; P< 0.05), whereas stand density and site index were not correlated with the carbon stocks of tree biomass (P > 0.05). The carbon stocks of aboveground tree biomass were significantly higher in C. obtusa (117.7 Mg C ha^-1), compared with C. japonica (95.5 Mg C ha^-1) stands, whereas carbon concentration and stocks of the forest floor and mineral soil layers were insignificantly different between the C. japonica and C. obtusa stands. The results indicated that trees in C. obtusa stands sequestrated more carbon dioxide, compared with C. japonica stands, whereas carbon stocks in the forest floor and mineral soil layers were unaffected by stand development processes of the different tree species.