• The Journal of Asian Finance, Economics and Business
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• 제5권1호
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• pp.5-9
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• 2018

Many developing countries have attempted to depreciate their currencies in order to make their products cheaper, stimulate exports, shift aggregate demand to the right, and increase aggregate output. However, currency depreciation tends to increase import prices, raise domestic inflation, reduce capital inflows, and shift aggregate supply to the left. The net impact is unclear. The paper incorporates the monetary policy function in the model, which is determined by the inflation gap, the output gap, the real effective exchange rate, and the world real interest rate. Applying an extended IS-MP-AS model (Romer, 2000), the paper finds that real depreciation raised real GDP during 1997.Q1-2005.Q3 whereas real appreciation increased real GDP during 2005.Q4-2017.Q2. In addition, a higher government debt-to-GDP ratio, a lower U.S. real federal funds rate, a higher real stock price, a lower real oil price or a lower expected inflation rate would help increase real GDP. Hence, real depreciation or real appreciation may increase or reduce aggregate output, depending upon the level of economic development. Although expansionary fiscal policy is effective in stimulating the economy, caution needs to be exercised as there may be a debt threshold beyond which a further increase in the debt-to-GDO ratio would hurt economic growth.

• The Journal of Asian Finance, Economics and Business
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• 제4권1호
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• pp.19-23
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• 2017

Based on a simultaneous-equation model consisting of aggregate demand and short-run aggregate supply, this paper estimates a reduced-form equation specifying that the equilibrium real GDP is a function of the real effective exchange rate, the government deficit as a percent of GDP, the real interest rate, foreign income, labor productivity, the real oil price, the expected inflation rate, and the interactive and intercept binary variables accounting for a potential change in the slope of the real effective exchange rate and shift in the intercept. Applying the exponential GARCH technique, it finds that aggregate output in Australia has a positive relationship with the real effective exchange rate during 2003.Q3 - 2013.Q2, the government deficit as a percent of GDP, U.S. real GDP, labor productivity and the real oil price and a negative relationship with the real effective exchange rate during 2013.Q3 - 2016.Q1, the real lending rate and the expected inflation rate. These results suggest that real appreciation was expansionary before 2013.Q3 whereas real depreciation was expansionary after 2013.Q2 and that more government deficit as a percent of GDP would be helpful to stimulate the economy. Hence, the impact of real appreciation or real depreciation on real GDP may change overtime.

• 천문학회보
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• 제46권2호
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• pp.44.1-44.1
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• 2021

The Cosmic Microwave Background (CMB) contains a wealth of information about the perturbations in the early universe. Its bispectrum, the Fourier counterpart of three-point correlation functions, is a direct probe of primordial non-Gaussianity predicted by many physically well motivated inflation models. Motivated by the substantial improvement in sensitivity expected from future CMB surveys, we developed a novel bispectrum estimator capable of handling such high-resolution data. Our code, named CMB-BEst, utilises a set of separable basis functions to constrain a wide variety of models simultaneously. Flexibility in the choice of basis enables targeted analysis on highly oscillatory inflation models, which are previously unconstrained due to the numerical and computational challenges involved. We present the results of our thorough validation tests, both internal and against conventional approaches. We provide a proof-of-concept example with Planck satellite data and sketch out the road ahead.

• Journal of the Korean Statistical Society
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• 제12권1호
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• pp.36-45
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• 1983

After every decennial census in the U.S., national surveys such as the Consumer Expenditures surveys are redesigned. The redesigned samples will be multi-stage systematic samples. Many sampling schemes have been proposed for comparison which requires the estimation and variance estiamtion formula. This paper deals with the surveys redesign research which concerns the sample design within the Primary Sampling Unit (PSU). In constructing the estimators it deals with the problem of which first stage inflation factor to use. The expected value of the proposed estimators is also derived.

• 웰빙융합연구
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• 제3권1호
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• pp.21-31
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• 2020

As people's income rises dramatically, people's happiness seems not as high as expected. In fact, there are two different arguments about the relationship between income level and happiness. The focus of the debate is whether the correlation between income and probability of happiness is positive or negative. Therefore, we hypothesizes that the relationship between income and probability of happiness presents an inverted U-shaped curve. Then, this paper sets China as an example to explore the effect of income on happiness. The data from the Chinese General Social Survey (CGSS) in 2015 is employed to conduct empirical analyses under the Probit model and the Zero-Inflation-Passion model. The empirical findings indicate that the effect of income on happiness presents an inverted U-shaped curve and significantly in statistic. Meanwhile, spouse's income, educational level, marriage time and house property have a positive and significant effect on happiness. Conversely, age and local living standards have a negative and significant effect on happiness. Unfortunately, even though registered residence and children have a negative effect on happiness, they do not get through the significant test. In order to ensure the robustness of our empirical results, we test the robustness of the above empirical results by adjusting the sample size. The results of robustness test verify that our empirical results are robust. Moreover, this paper also makes a small contribution to the current literature with a sample from China.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.229-238
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• 2021

The article applies the ECM - ARDL model to examine the relationship between economic indicators and the existence of the disease in the long run of 10 ASEAN countries from 2000 to 2019. There are two models: The first model investigates the impact of GDP per capita, net inflow FDI, unemployment rate, and inflation rate on the proportion of export to GDP of ASEAN countries, the second model is similar to the first one but adds one more variable to the independent variable list - 'the variable for disease'. The results prove the long-run effect of GDP per capita, FDI, unemployment and inflation rate on export of the selected countries, though individual country shows differences in the sign and magnitude of these impacts. Surprisingly, the number of people suffering from disease does not affect the export of all selected countries as expected. The results of the two models also indicate that the disequilibrium in the short run converges to the equilibrium in the long run with a high proportion, especially in the case of Cambodia and the Philippines, with the rate of 95.65% and 151.94%, respectively. The findings can be useful for policymakers in promulgating efficient policies to enhance the trading activities of the selected countries.

• 한국항해항만학회지
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• 제41권4호
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• pp.181-188
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• 2017

기존 선박매매시장에서 선박가격은 최근 거래되는 비슷한 유형의 선박가격을 기반으로 산정되었다. 하지만 2008년 금융위기 이후 선박가격 변동이 심해지면서 선박 내재적 가치를 산정할 수 있는 선박가격평가기준이 필요하다. 본 연구에서는 선박의 내재된 요소를 추정하기 위해 헤도닉가격모형을 사용하였다. 이에 본 연구는 헤도닉가격모형을 이용하여 선박가격에 미치는 영향을 각 특성별 가치를 분석하고 추정모형을 도출하였다. 헤도닉가격모형에서 제시된 4가지 모형들 중에 분산확대인자와 단계선택방식으로 최적의 모형을 선정하였다. 이를 위해 실제 거래된 선박과 특성자료를 활용하여 선박가격에 미치는 결정변수들의 영향력 정도를 분석하였다. 최종 선정된 모형은 Log-Line모형으로 회귀분석결과 DWT, Age, Market Value, Short-Term Charter, Long-Term Charter, Enbloc, Special Survey Due, Builder 8개의 변수가 선박가격모형에 영향을 미치는 것으로 나타났다. 제시한 선박가격모형은 선박가격을 평가할 때 객관적이고 균형있는 의사결정을 하는데 도움이 될 것이다.

• 천문학회보
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• 제38권2호
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• pp.56.2-56.2
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• 2013

We study the three-dimensional genus topology of large-scale structure using the CMASS Data Release 11 sample of the SDSS-III Baryon Oscillation Spectroscopic Survey (BOSS). The CMASS sample yields a genus curve that is characteristic of one produced by Gaussian random-phase initial conditions. The data thus supports the standard model of inflation where random quantum fluctuations in the early universe produced Gaussian random-phase initial conditions. Modest deviations in the observed genus from random phase are as expected from the nonlinear evolution of structure. We construct mock SDSS CMASS surveys along the past light cone from the Horizon Run 3 (HR3) N-body simulations, where gravitationally bound dark matter subhalos are identified as the sites of galaxy formation. We study the genus topology of the HR3 mock surveys with the same geometry and sampling density as the observational sample, and the observed genus topology to be consistent with LCDM as simulated by the HR3 mock samples.

• 대한산업공학회지
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• 제25권4호
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• pp.466-475
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• 1999

A backward Dynamic Programming(DP) model for the optimal facility replacement decision problem during a finite planning horizon is presented. Multiple alternative challengers to a current defender are considered. All facilities are assumed to have finite service lives. The objective of the DP model is to maximize the profit over a finite planning horizon. As for the cost elements, purchasing cost, maintenance costs and repair costs as well as salvage value are considered. The time to failure is assumed to follow a weibull distribution and the maximum likelihood estimation of Weibull parameters is used to evaluate the expected cost of repair. To evaluate the revenue, the rate of operation during a specified period is employed. The cash flow component of each challenger can vary independently according to the time of occurrence and the item can be extended easily. The effects of inflation and the time value of money are considered. The algorithm is illustrated with a numerical example. A MATLAB implementation of the model is used to identify the optimal sequence and timing of the replacement.

• 전자통신동향분석
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• 제38권6호
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• pp.128-136
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• 2023

Lithium accounts for only 0.0017% of the earth crust, and it is produced in geographically limited regions such as South America, the United States, and China. Since the first half of 2017, the price of lithium has been continuously increasing, and with the rapid adoption of electric vehicles, lithium resources are expected to be depleted in the near future. In addition, economic blocs worldwide face intensifying scenarios such as competition for technological supremacy and protectionism of domestic industries. Consequently, Korea is deepening its dependence on China for core materials and is vulnerable to the influence of the United States Inflation Reduction Act. We analyze post-lithium secondary battery technologies that rely on more earth-abundant elements to replace lithium, whose production is limited to specific regions. Specifically, we focus on the technological status and issues of sodium-ion, zinc-air, and redox-flow batteries. In addition, research trends in post-lithium secondary batteries are examined. Post-lithium secondary batteries seem promising for large-capacity energy storage systems while reducing the costs of raw materials compared with existing lithium-based technologies.