• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.341-350
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• 2023

Purpose - How are gains from trade distributed between countries when economic integration is achieved through free trade? The purpose of this paper is to answer this question. Design/methodology/approach - This study attempts to address the issue of distribution of trade gains between participating countries following economic integration in terms of positive economics. The analysis is therefore based on a theoretical methodology. Findings - First, commodity prices fall and consumer surplus increases in both large and small countries. Second, when economic integration into free trade is achieved, gains from trade always exist in small countries. However, the size of trade gains depends on the degree of difference from the market size of the partner country, the large country. However, the size of the gains from trade depends on the extent of difference between the market size of the large country. If the market size of a large country is much larger and there is a large difference, trade gains will be very large, whereas if the market size is similar, profits of domestic firm will decrease. Therefore, in that case, the size of the gains from trade becomes relatively small because only the gains from exchange exists. On the other hand, in a large country with a large market size, there is a possibility of trade gains only when the market size is similar to that of a small country, which is a trading partner. However, if there is a large difference in market size, the decrease in profits of domestic firm is relatively larger than the increase in consumer surplus due to trade, and rather, a trade loss occurs. Research implications or Originality - Our analysis contributes to filling the gaps in the literature regarding the distribution of gains from trade, and from a policy point of view, it is meaningful in examining the impact of market size, an important variable considered in regional economic integration of countries.

• 제어로봇시스템학회:학술대회논문집
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• 1996.10b
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• pp.184-187
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• 1996

In this paper, an algorithm for tuning gains of a PID controller is proposed. The proposed algorithm is composed of two stages. The first is a stage for Lyapunov function-based initial stabilization of an overall system and rough tuning gains of the PID controller. The other is that for fine tuning gains of the PID controller. All tunings are performed by using the well-known fuzzy logic-based tuner. The computer simulations are performed to show the validity of the proposed algorithm and results are presented.

• The Transactions of the Korean Institute of Electrical Engineers
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• v.37 no.6
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• pp.368-375
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• 1988

This paper is concerned with the design of the optimal gains of the controller in the speed control system for the induction motor controlled by the microprocessor. The system is modelled with the discrete-time state equation, considering the time delay, for the facility of the optimization techniques. Introducing the conjugate gradient descent method, as the optimization technique, are derived the optimal gains, the gains which give the best transient characteristics. At the optimal gains obtained, the theoretcal transient responses are verified by experimental ones on a 5HP induction motor drive system.

• Journal of Korea Trade
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• v.26 no.7
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• pp.1-18
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• 2022

Purpose - Recent international studies have largely focused on measuring the welfare gains from increased trade varieties. To adequately capture the variety gains, it is of importance to estimate the elasticity of substitution between varieties of trade goods because it is one of the key parameters to determine the magnitude of the variety gains. Using the import data of South Korea, this paper shows that the elasticities vary substantially across the estimators, which affects the magnitude of the gains from trade. Design/methodology - Empirical studies working on the gains from trade variety have heavily depended on the estimation methods for the elasticity of substitution between trade varieties, developed by Feenstra (1994) and refined by Broda and Weinstein (2006). We estimate and compare the estimated elasticities for 8,945 HS 10 goods of South Korea, obtained from the three estimation methods: Feenstra's weighted least square (F-WLS), Feenstra's feasible generalized least square (F-FGLS), and Broda and Weinstein's feasible generalized least square (BW-FGLS). Findings - Using the estimated elasticities from the F-FGLS, considered as a suitable estimator, A typical Korean consumer saved 228 dollars per year by the greater access to new import varieties. This leads to gains from imported variety of 2.06% of GDP. In 2017, a typical Korean consumer would gain by 611 dollars, compared with 2000. China is the country with the largest contribution (28.4%), followed by Japan and USA. About 50% of all the welfare gains come from the imports from the three main trade partners. The Southern Asian countries are more important to the South Korean welfare gain than the Western European countries. Originality/value - Existing studies have chosen one of the methods without any criterion for the choice and then estimated the elasticities of substitution between varieties of trade goods. This paper focuses on the estimation specifications and methods as the cause of the disparity in estimated elasticities and welfare gains from trade variety. According to the Ramsey RESET and White tests, the F-FGLS estimates are relatively better compared to the F-WLS and BW-FGLS estimates. As another contribution, this paper provides the first measure of the welfare gains from trade variety for South Korea, using the estimated elasticities of substitution between trade varieties.

• East Asian Economic Review
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• v.22 no.3
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• pp.275-306
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• 2018

Amid a general rise in protectionism and a trade war between the world's two largest economies, this paper analyzes changes in gains from trade for the world over a decade marked by rapid global economic integration preceding the global financial crisis of 2007-08. It employs state-of-the-art quantitative trade models based on the gravity equation to estimate autarky gains from trade, as well as a recently introduced ANOVA-type structural estimation of the gravity equation to obtain trade costs free of residual trade cost bias. Between 1995 and 2006, the cost of moving to autarky increased by about 45% on average. A decomposition exercise suggests most of the increase in autarky gains from trade on average was due to increases in import shares in total spending, with a limited role for reallocations of spending across sectors with varied trade elasticities. Changes in trade costs between 1995 and 2006 are found to have increased autarky gains from trade, as measured in 2006, by up to 100%.

• International Journal of Contents
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• v.3 no.3
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• pp.20-25
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• 2007

Standards impact the economy in various ways. Moreover, intense competition exists between a variety of standards in this era of globalization. This paper quantifies the economic effect of multiple standards in the Information Communications and Technology (ICT) sector. Thus, it identifies and specifies which standard applies when economic gains exist. A model is developed which quantifies the magnitude of the economic effect of multiple standards as compared with a single standard or no standard. The model allows for both the micro- and macroeconomic gains from standardization to be quantified. Preliminary estimates indicate that at the macro level the multiple standards multiplier is approximately three. That is for every dollar invested, the gain is on the order of three dollars. Although not as robust. preliminary results indicated a similar economic gain at the micro level Overall, multiple standards dominate a single standard. This paper applies the model to IMT-2000, an example of multiple standards, to demonstrate this approach to quantify the standards economic effect.

• 제어로봇시스템학회:학술대회논문집
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• 1994.10a
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• pp.703-707
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• 1994

This paper proposes a method of learning control in DC servomotor using a neural network. First we estimate the pulse transfer function of the servo system with an unknown load, then we determine the best gains of I-PD control system using a neural network. Each time the load changes, its best gains of the I-PD control system is computed by the neural network. And the best gains and its pulse transfer function for the case are stored in the memory. According the increase of the set of gains and its pulse transfer function, the learning control system can afford the most suitable I-PD gains instantly.

• Proceedings of the SAREK Conference
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• 2008.06a
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• pp.925-930
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• 2008

As office automation appliances and communication equipments are adopted in office buildings, internal heat gains increase gradually. When making simulation model, internal heat gains are usually set up with standard values or ignored. Therefore, the impact of the internal heat gains has been ignored or not been focused although it is recognised as significant contributor to heating/cooling load of buildings. This study focused on the impact of internal heat gains on curtain wall buildings. the amount and schedules of heat internal gains profiles not only affect the profiles of heating/cooling loads, but also make impact on reducing the effectiveness of high performance glazing systems. It is important to identify internal heat gains profiles before considering the installation of high performance glazing systems.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.48 no.4
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• pp.316-321
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• 2003

Analysis of breeding gains in grain yield has been intensively conducted in wheat, barley, oat, maize, and soybean. Such information is limited in rice. The objective of this study was to compare the breeding gains and cultural gains contributed to yield gains of Korean rice varieties since early 1900s. Two sets of yield data were used for analysis; the historical yield data of 1908 for old japonica cultivars, and present yield data in the years from 1996 to 1998 for the six cultivars, consisting of previous two old cultivars and four contemporary cultivars. The old cultivars were two native cultivars, Jodongi and Damageum, while contemporary cultivars were two premium quality japonica cultivars, Hwaseongbyeo and Dongjinbyeo, and two Tongil-type cultivars, high yielding cultivars developed from indica/japonica hybridization, Milyang23 and Dasanbyeo. The yield differences of old cultivars between the experiments in 1908 and the experiments from 1996 to 1998 were estimated as cultural gains (1.84 tons $\textrm{ha}^{-1}$) due to the improvement of cultivation technology. Yield differences between the old cultivars and contemporary cultivars were considered total yield gains during the periods. These were 2.51 tons $\textrm{ha}^{-1}$ for japonica cultivars and 3.81 tons $\textrm{ha}^{-1}$ for Tongil-type cultivars. From these data, the genetic gain of 0.67 tons $\textrm{ha}^{-1}$ and 1.97 tons $\textrm{ha}^{-1}$ were estimated for japonica cultivars and Tongil-type cultivars respectively. The ratio between cultural gain and genetic gain appeared to be 2.7:1 for japonica cultivars and 1:1 for Tongil-type cultivars. This analysis clearly showed the higher genetic contribution in Tongil-type cultivars than in japonica cultivars, suggesting a guideline to be used when planning new yield improvement programs. Additional implication has emerged when a better yield response to modem cultivation technology was found in one of the old cultivars, suggesting the combined improvement between breeding and cultural improvement is necessary for attaining the maximum yield capacity of a crop.

• Asia-Pacific Journal of Business
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• v.11 no.2
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• pp.133-143
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• 2020

Purpose - This study seeks to summarize the tax changes in stock trading and analyze K-OTC stock trading data in 2017 and 2018 to infer the effects of the application of capital gains taxes by individual investors. Design/methodology/approach - This study analyzes the case of the expansion of the 2018 capital gains tax exemption in the K-OTC market, which exempts capital gains tax on the proceeds from the sale of individual investors of certain stocks under the temporary special law. Findings - In the K-OTC market, the amount of transactions has expanded since the capital gains tax exemption in 2018, but the volume of transactions and transaction turnover have decreased. In particular, the result of lower transaction turnover after the expansion is contrary to expectations. To control the macroscopic effects of the stock market, further analyses the transactions of capital gains tax-exempt stocks and non-exempt stocks. The turnover rate of exemption stocks is higher than that of the non-exempt stocks. In the case of transaction turnover, the two results are not consistent. However, the latter result is more meaningful because the comparison of exempt and non-exempt reduces distortion by macro effects. Research implications or Originality - To mitigate the impact of capital gains taxes on stock market, government authorities need to consider the gradual expansion of the scope of taxation, the application of separate taxation in the introduction of capital gains, the reduction tax rate on transfer income of listed shares, and the reduction tax rate on long-term holdings.