• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.165-190
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• 2014

The purpose of this study is to measure the trade insurance's macroeconomic effects by analyzing the causality between major economic variables(GDP per capita, market interest rate, inflation, unemployment rate, exchange rate) and trade insurance variable. I conducted empirical analyses using First-difference GMM(Generalized Method of Moments), System GMM and Panel-VAR Model, with panel data from 11 countries(Korea, United States, Japan, BRICs, Indonesia, Singapore, Hong Kong, Vietnam) between 1992 and 2011. There are several important findings. Above all, Trade insurance is positively and significantly related to GDP. This results show that trade insurance serves to increase economic growth. In other words, trade insurance leads to economic growth by helping increase GDP per capita. Especially, trade insurance negatively related to unemployment rate, it is for sure that trade insurance contribute to decrease unemployment rate. And trade insurance helps control of inflation. It is also confirmed that trade insurance contributes to price stability, which in turn serves to stabilize the overall economy. And this research finds as uncertainty in the market increases, seen it as increase of exchange rate, increasing trade insurance supply is stabilize the exchange rate.

• Journal of Energy Engineering
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• v.10 no.4
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• pp.357-362
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• 2001

A bench type ammonia-water absorber heat exchange cycle was tested by varying the system charging concentration, refrigerating valve opening and weak solution flow rate. It was observed that the cooling capacity was increased as the system charging concentration was increased. Optimum system charging concentration was found for the coolong capacity of the system. The opening rate of refrigerant expansion valve had a direct influence on the refrigerant sub-cooling at the condenser outlet. Optimum sub-cooling was found to be 0~4$^{\circ}C$. As the weak solution flow rate increased the concentration of strong solution and the evaporating pressure decreased. There existed a optimum weak solution flow rate which maximized the cooling capacity and COP.

• East Asian Economic Review
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• v.20 no.3
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• pp.365-390
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• 2016

This paper quantitatively compares the intrinsic features of the daily USD-GBP exchange rates in two different periods, the 1920s and the 2010s, under the same freely floating exchange rate system. Even though the foreign exchange markets in the 1920s seem to be much less organized and developed than in the 2010s, this paper finds that both the long memory volatility property and the structural break appear to be the common intrigue features of the exchange rates in the two periods by using the FIGARCH model. In particular, the long memory volatility properties in the two periods are found to be upward biased and overstated because of the structural breaks in the exchange markets. Thus this paper applies the Adaptive-FIGARCH model to consider the long memory volatility property and the structural breaks jointly. The main finding is that the structural breaks in the exchange markets affect the long memory volatility property significantly in the two periods but the degree of the long memory volatility property in the 1920s is reduced more remarkably than in the 2010s after the structural breaks are accounted for; thus implying that the structural breaks in the foreign exchange markets in the 1920s seem to be more significant.

• Journal of Power System Engineering
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• v.21 no.1
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• pp.50-56
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• 2017

To increase the enthalpy exchange efficiency of ERV elements, the moisture exchange character must be improved. The moisture exchange efficiency depends on material characteristics. The material used for ERV is Hwang-to paper based on Han-ji which is Korean traditional paper. The paper has excellent performance in moisture exchange and heat transfer compared with polymer and other papers. To have an anti bacteria performance and to improve moisture exchange performance of Han-ji, Hwang-to is added to the Han-ji. The enthalpy exchange efficiency of the Hwang-to paper shows 5% greater than that of the conventional paper. In case of Escherichia Coli, the reduction rate of bacteria is 96.6% and in case of Pseudomonas, the reduction rate of bacteria is 97.5%. The ERV element made of Hwang-to paper has a great possibility as an ERV element.

• Journal of Power System Engineering
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• v.9 no.4
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• pp.18-23
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• 2005

The experimental investigation was carried out to evaluate the performance of air-to-air heat exchanger with rotating porous plates newly developed in this study. The rotating porous plates are mounted with an equal interval of 18 mm inside the heat exchanger where the hot and cold airs enter at opposite ends. When flowing in opposite directions by the separating plate installed in the center of the rotating porous plates, the airs give and receive the heat each other. The material of the porous plate is cooper and its thickness is 1.0 mm. Air flow rate is varied from 10 to 120 m3/h. From the experiment of air-to-air heat exchanger with the rotating porous plates, the heat exchange performance increased with the increase in RPM of the porous rotating discs at the conditions of the same air flow rate. The sensible heat exchange efficiency was maximum 60 to 70 percent, and enthalpy exchange efficiency 50 to 60 percent.

• 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.

• Transactions of the Korean hydrogen and new energy society
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• v.18 no.3
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• pp.292-300
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• 2007

A dynamic system model of a proton exchange membrane fuel cell(PEMFC) has been developed. The PEMFC of this study has large active area with water cooling in order to simulate the performance of the commercially viable PEMFC system for the transportation. A PEMFC stack model is a transient thermal model which is respond to the dynamic change of the coolant temperature and the flow rate. The dynamic cooling system model has been developed to determine the coolant flow rate and the coolant temperature. Prior to the system level study, thermal management criteria have been set up and brought to the control command of the cooling system. Since the system model is designed to evaluate the effect of thermal management on the system performance, it is attempted to determine the proper control algorithm of the cooling system so that the PEMFC system is working on the thermal management criteria. As a result of simulation, feedback controlled cooling system consumes less power and produce more power comparing with that of conventionally controlled cooling system.

• Journal of Intelligence and Information Systems
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• v.28 no.4
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• pp.191-209
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• 2022

This paper is a review of studies that focus on the prediction of a won/dollar exchange rate before and after the covid 19 pandemic. The Korea economy has an unprecedent situation starting from 2021 up till 2022 where the won/dollar exchange rate has exceeded 1,400 KRW, a first time since the global financial crisis in 2008. The US Federal Reserve has raised the interest rate up to 2.5% (2022.7) called a 'Big Step' and the Korea central bank has also raised the interested rate up to 2.5% (2022.8) accordingly. In the unpredictable economic situation, the prediction of the won/dollar exchange rate has become more important than ever. The authors separated the period from 2015.Jan to 2022.Aug into three periods and built a best fitted ARIMA/ARDL prediction model using the period 1. Finally using the best the fitted prediction model, we predicted the won/dollar exchange rate for each period. The conclusions of the study were that during Period 3, when the usual relationship between exchange rates and economic factors appears, the ARDL model reflecting the variable relationship is a better predictive model, and in Period 2 of the transitional period, which deviates from the typical pattern of exchange rate and economic factors, the SARIMA model, which reflects only historical exchange rate trends, was validated as a model with a better predictive performance.

• KIEAE Journal
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• v.14 no.4
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• pp.127-131
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• 2014

The ground source heat pump (GSHP) system is a kind of the temperature differential energy system using relatively stable underground temperature as heat source of space heating and cooling. This system can achieve higher performance of system than it of conventional air source heat pump systems. However, its superiority of the system performance is different according to installation location or local climate, because the system performance depends on the underground condition which is decided by annual average air temperature. In this study, in order to estimate the feasibility of the ground source heat pump system according to the local climate, numerical simulation was conducted using the ground heat transfer model and the surface heat balance model. The case study was conducted in the condition of Seoul, Daejeon, and Busan, In the result, the heat exchange rate of Busan was 34.33 W/m as the largest in heating season and it of Seoul was 40.61 W/m as the largest in cooling.

• Journal of the Korean Solar Energy Society
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• v.38 no.1
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• pp.13-24
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• 2018

As part of the "Carbon free Island 2030" policy, the local government of Jeju Island is currently working to reduce carbon through renewable energy supply. However, renewable energy is difficult to predict due to intermittent characteristics. If the share of renewable energy increase, it is difficult to plan of supply of electricity to grid due to that characteristic of renewable. In this paper analyze the fluctuation rate and the capacity credit of wind power and PV to find out how much wind power and PV contribute to supply of electricity of power system in Jeju. As a result mean value of variation rate of wind power and PV is about 3%, 5% and capacity credit is about 10% and 2% respectively.