• 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.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.4
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• pp.53-60
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• 2022

In a group-testing method, instead of testing a sample, for example, blood individually, a batch of samples are pooled and tested simultaneously. If the pooled test is positive (or defective), each sample is tested individually. However, if negative (or good), the test is terminated at one pooled test because all samples in the batch are negative. This paper considers a queueing system with a two-stage group-testing policy. Samples arrive at the system according to a Poisson process. The system has a single server which starts a two-stage group test in a batch whenever the number of samples in the system reaches exactly a predetermined size. In the first stage, samples are pooled and tested simultaneously. If the pooled test is negative, the test is terminated. However, if positive, the samples are divided into two equally sized subgroups and each subgroup is applied to a group test in the second stage, respectively. The server performs pooled tests and individual tests sequentially. The testing time of a sample and a batch follow general distributions, respectively. In this paper, we derive the steady-state probability generating function of the system size at an arbitrary time, applying a bulk queuing model. In addition, we present queuing performance metrics such as the offered load, output rate, allowable input rate, and mean waiting time. In numerical examples with various prevalence rates, we show that the second-stage group-testing system can be more efficient than a one-stage group-testing system or an individual-testing system in terms of the allowable input rates and the waiting time. The two-stage group-testing system considered in this paper is very simple, so it is expected to be applicable in the field of COVID-19.

• Journal of the Korean Regional Science Association
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• v.33 no.3
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• pp.3-19
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• 2017

The purpose of this paper is to analyze the impacts of regional industrial diversity on regional business cycle response to national volatility. We employed mean group and pooled mean group estimators of panel vector error-correction models in order to control unobserved heterogeneity of the port cities, such as Pusan, Ulsan and Incheon. The results show that in various industrial regions, short-term fluctuations in the unemployment rate are small compared to other regions. On the contrary, long-term volatility of manufacturing production index is low in those regions.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.607-617
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• 2020

This study investigates the causal relationship between public and private external debt and economic growth in developing countries. Our model includes 18 selected Asian developing and transition economies from 1995 thru 2019. We employ the dynamic heterogeneous panel data methods, pooled mean group (PMG), robust cross-sectional augmented autoregressive distributed lag (CS-ARDL), and pairwise panel causality test. The results of PMG and CS-ARDL show the existence of causality between external debt and economic growth both in the short-run and long-run. The pairwise Granger causality test found the bidirectional causal relationship runs from total external debt, public external debt, and private external debt to economic growth and economic growth to external debt. The results showed first the existence of causality in the short-run and long-run between external debt and economic growth and the second, bi-directional causality that runs from external debt to economic growth and economic growth to external debt. Both the dynamic models and robust estimator found the same inferences about the impact of main variables on economic growth in Asian developing and transition economies. The findings of this study suggest to assure debt management, investment in productive sectors, increase domestic savings, decrease external dependency, and focus on international trade.

• Analyses & Alternatives
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• v.7 no.3
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• pp.181-230
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• 2023

Evaluating the empirical validity of Modern Monetary Theory, this study implements panel cointegration analysis on annual panel data (2000-2022) of OECD countries. Specifically, the sample countries are divided into groups based on the presence of their own sovereign currencies, and for each group, the long-run equilibrium relation (cointegration) between the ratio of public debt or fiscal deficit and government bond rates is tested and estimated. Main findings are as follows: applying the pooled mean-group estimation for panel cointegration, it is found that both the ratios of public debt and fiscal deficit have significantly positive long-run correlation with government bond rates in countries without sovereign currency such as the Euro-zone or fixed exchange rate regime countries. However, in countries with sovereign currency such as non-Euro-zone or floating exchange rate regime countries, the long-run correlation is either negative or not statistically significant. Particularly, in countries without sovereign currency, the ratio of public debt has significantly positive correlation with the real government bond rates in the short run as well as the long run. These results are consistent with the prediction of Modern Monetary Theory, thus providing a supporting evidence for the empirical validity of the theory.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.37 no.3
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• pp.197-201
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• 2004

Juveniles of parrot fish (Oplegnathus fasciatus) were graded and divided into three groups (mean initial size): Small group $(32.9\pm3.2\;g),$ Large group $(130.1\pm12.3\;g)$ and Ungraded group $(74.8\pm29.8\;g).$ Growth and sex ratio were monitored over 3 years. It was concluded that no production advantage was gained by weight grading. There were no differences when the pooled data from the two graded groups were compared with the ungraded group, although mean weight and survival of the large group were continuously higher than those of other groups until the end of rearing period. The highest percentage of males was found in the large group. These results show that males start growing faster than females long before the size grading.

• Asian Pacific Journal of Cancer Prevention
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• v.15 no.16
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• pp.6643-6647
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• 2014

The breast and the thyroid are hormone responsive organs that are closely related with changes of endocrine function and glandular disease. An association between thyroid disorders and breast cancer (BC) risk has been suggested, although the results are inconclusive. The purpose of the present study was to summarize evidence supporting a relationship between BC and the level of thyroid hormones and antibodies. The MEDLINE and EMBASE electronic databases were searched for studies published between 2000 and 2014. The pooled effects were presented as weighted mean differences (WMD) with 95% confidence intervals (CI) using fixed or random effect models. We summarized the results of 8 cross-sectional studies with 4, 189 participants. The overall pooled results showed that the levels of $FT_3$ and $FT_4$ were significantly increased in patients with BC (WMD=1.592 pmol/l; 95% CI: 0.15-3.033 and WMD=0.461 ng/dl; 95% CI: 0.015-0.906; p=0.043). The TPOAb level in patients with BC was higher than that in the control group (WMD=81.4 IU/ml; 95% CI: 78.7-84.0; p=0.000). The overall pooled results of the TgAb with random effects analyses showed that the TgAb level was significantly increased in patients with BC (WMD=101.3 IU/ml; 95% CI: 48.7-153.9; p=0.000). The present results indicated that the serum levels of $FT_3$, TPOAb and TgAb are significantly higher in patients with breast cancer than in healthy controls.

• Journal of Nutrition and Health
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• v.28 no.1
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• pp.46-52
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• 1995

This study was conducted to assess thiamin nutritional status in Korean female college students on normal diet Weighed food records and 24-hour urine samples were collected from subjects for three days. Mean daily intake of thiamin was calculated from food records. Pooled urine samples were analyzed for thiamin and creatinine. Mean daily intake of thiamin was 0.72$\pm$0.22mg, 72% of Korean RDA for the group. Thiamin intake per 1000kca1 was 0.4997$\pm$0.09mg, which is close to the RDA. Mean daily urinary excretion of thiamin were 130.11$\pm$ 71.06$\mu\textrm{g}$/24hr and 180.59$\pm$129.79$\mu\textrm{g}$/g creatinine. Mean daily thiamin intake(mg/day), but not thiamin intake per 1000kca1 was showed by positive correlated with urinary excretion of thiamin(p<0.01). Thiamin nutritional status of the subjects based on 24-hour urinary excretion of thiamin was deficient in one subject(19%), low in nineteen subjects(36.5%), and acceptable in thirty two subjects(61.5%). Only six subjects were in low thiamin status based on thiamin excretion per gram creatinine. Therefore, total urinary excretion of thiamin seems to be more sensitive to marginal thiamin deficiency compared to urinary excretion per gram creatinine. From the results of the study, the prevalence of marginal thiamin deficiency seems to be high among young Korean adult women.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.75-83
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• 2021

Variation in demand, natural resource availability, and technological advancement within a country are the main reasons for necessitating export and import activities between nations. Accordingly, this paper aims to analyze the effect of economic openness on Multifactor Productivity (MFP) in selected Asian countries (Vietnam, Thailand, The Philippines, Indonesia, Cambodia, China, Japan, Malaysia, South Korea, and Singapore) based on data for the period 1990-2018. The analysis conducted in the study employed the panel ARDL approach based on the estimation by Pooled Mean Group (PMG), Mean Group (MG), and Dynamic Fixed Effect (DFE). The Hausman test conducted indicates that the PMG estimation is better than that of MG and DFE since it has a higher variability value than the significance value. The results revealed that economic openness is able to elicit significant and positive effects on short-term and long-term MFP growth. In addition, the study established that other variable, such as the number of schooling years, are also able to produce a positive and significant effect on MFP growth in the long term. Since economic openness can impact MFP growth, every country should thus increase its export activities through more capital and worker inputs that will stimulate greater production.

• Restorative Dentistry and Endodontics
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• v.15 no.2
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• pp.1-16
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• 1990

This study was to evaluate the cytotoxic effect in vitro and the tissue response within the rat peritoneal cavity to high copper amalgam and glass ionomer-silver cement, suggested for use as a retrograde endodontic filling material. In the cytotoxicity experiment, the radioactively ($^{51}Cr$) labeled L929 mouse fibroblasts were employed to determine the relative cytotoxicity of two experimental materials. Those materials were evaluated immediately after set and after one and seven days setting. In the tissue response experiment, two experimental materials were to evaluate mean peritoneal cellular count, differential cell count and the content of silver and copper in pooled packed cells and eluate samples taken by peritoneal lavage technique, and compared with surgical control after one day. two, four and six weeks of implantation. The results were as following: 1. High copper amalgam exhibited significant cytotoxicity immediately after set but showed no sign of toxicity after one day and seven days setting materials. 2. Glass ionomer-silver cement showed no sign of toxicity immediately after set and after one day and seven days setting. 3. High copper amalgam and glass ionomer-silver cement groups produce no significant difference in the mean peritoneal cell count when compared with the surgical control group after one day, two and four weeks of implantation. Surgical control group exhibited significantly a greater cell count when compared with the High copper amalgam group after six weeks. 4. High copper amalgam group increased significantly in the percentage macrophages after four and six weeks of implantation when compared with surgical control group. 5. The trace metal analysis involved an increased silver content in the elutes and an increased copper content in the packed cells of high copper amalgam group, and an increased silver content in the packed cells and elutes of glass ionomer-silver cement group.