• East Asian Economic Review
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• 제22권3호
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• pp.337-370
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• 2018

This paper discusses the design of monetary policy in a New Keynesian small open economy framework by introducing nominal wage rigidities and incomplete exchange rate pass-through on import prices. Three main findings are summarized. First, with the existence of an incomplete exchange rate pass-through and nominal wage rigidities, the optimal policy is to seek to minimize the output gap, the variance of domestic price and wage inflation, as well as deviations from the law of one price. Second, the CPI inflation targeting Taylor rule is welfare enhancing when there is a technological shock to the economy. The exception occurs when there is a foreign income shock, which minimizes welfare losses under the domestic inflation targeting Taylor rule. Last, two stylized Taylor rules turn out to be a bad approximation, but the modified Taylor rules that respond to the unemployment gap rather than the output gap are a closer approximation to the optimal policy.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.29-36
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• 2022

This study uses the panel probit model to investigate and evaluate the relationship between exchange rate regimes, political stability, and carbon dioxide during currency crises. To understand currency crisis times, we study a panel dataset of seven South Asian nations that contain annual observations from 1996 to 2020. Furthermore, we created the EMPI exchange market pressure indicator to detect crises. Our results strongly suggested that fixed exchange rate is negatively associated with currency crises, with good regulatory quality and better effective governments. Simultaneously, the floating exchange rate is positively related to the currency crises in those countries where the rule of law has less adequately flowed. However, CO₂, exports, and interest rates are buoyantly associated with crises. The floating exchange rate, the rule of law, exports, and interest rate are associated positively and contribute more prone to the crisis episodes. Negatively associated variables contributed less amid crises episodes: fixed exchange rate regime, government effectiveness, and regulatory quality. Meanwhile, CO₂ has a positive relationship with a currency crisis and contributes more likelihood to the probability of a currency crisis. Countries that adopted the fixed exchange rates with effective governments and regulatory quality faced more minor currency crises.

• 한국정밀공학회:학술대회논문집
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• 한국정밀공학회 1995년도 추계학술대회 논문집
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• pp.965-969
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• 1995

This paper deals with effective using the IGES file for flexible data exchange among the other CAD/CAM system. If a data exchange between STL file and the neutral IGES file in Stereolithography system is available, a product design becomes more flexible. THere can be many restrictions and difficulties intranslating these data. First, an STL file follows two rules, such as right-hand rule, and vertex-to-vertex rule, thus requires a structural verification. Second, translation should be performed with minmal errors. It becomes very important to translate IGES file of limited kinds of entities fot the purpose of geometric information into STL file with minor data manipulation. The developed system suggests a good approach of translating the sampled B-spline surface of IGES and shows a potential linkage between IGES and STL format file.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2002년도 하계학술대회 논문집 A
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• pp.12-15
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• 2002

Korea Power System Protection Setting Rule was used from the rectify 1990's. Thereafter transmission voltage is raised the voltage into 765kV, and introduction to new technology of Power System, and was many of variation but, it is using. The present is using Digital type distance relay for 765kV transmission line protection. If impedance value of transmission line were to value lower than setting, this would be operating and relay setting rule is for 85% into Zone 1 self section, and Zone 2 is a 125%, Zone 3 is a 225%. Which's $15{\sim}25%$ include current transformer error 5%, potential transformer 5%, relay calculation error 5% and margin factor from the field experience. This paper is discussed transmission protective relay and relay setting rule of high voltage power system and we verify the correctness relay setting rule with distance relay using Matlab simulation.

• 융합보안논문지
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• 제11권1호
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• pp.57-69
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• 2011

국방통합보안관제체계 내에는 자체 개발된 시스템을 포함하여 다양한 오용탐지 기반의 상용 침입탐지시스템들이 운용되고 있다. 오용탐지 방식에 기반해서 운용되는 침입탐지시스템의 경우 침입탐지 패턴의 업데이트 주기나 질적수준에 따라 서로 상이한 능력을 가지며, 이러한 상이성은 침입탐지시스템들 간의 통합과 협동탐지를 더욱 어렵게 만든다. 이에 본 논문에서는 국방통합보안관제체계 내에서 운용되는 이기종 침입탐지시스템들 간의 통합과 협업탐지를 위한 기반을 마련하기 위해 이기종 침입탐지시스템들이 새롭게 생성한 탐지규칙을 서로 전파하고 적용할 수 있는 기법을 제안하고, 구현 및 실험을 통해 제안된 탐지규칙 교환 기법의 국방환경 가능성을 입증한다.

• East Asian Economic Review
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• 제18권3호
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• pp.301-335
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• 2014

In this paper, we consider a small open economy under the New Keynesian model with unemployment of Gal$\acute{i}$ (2011a, b) to discuss the design of the monetary policy. Our findings can be summarized in three parts. First, even with the existence of unemployment, the optimal policy is to minimize variance of domestic price inflation, wage inflation, and the output gap when both domestic price and wage are sticky. Second, stabilizing unemployment rate is important in reducing the welfare loss incurred by both technology and labor supply shocks. Therefore, introducing the unemployment rate as an another argument into the Taylor-rule type interest rate rule will be welfare-enhancing. Lastly, controlling CPI inflation is the best option when the policy is not allowed to respond to unemployment rate. Once the unemployment rate is controlled, however, stabilizing power of CPI inflation-based Taylor rule is diminished.

• The Journal of Asian Finance, Economics and Business
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• 제6권4호
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• pp.297-307
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• 2019

Despite the fact that the implementation of 5% rule is widely recognized to enhance the transparency of capital market and fairness of corporate governance market, a few evidences present information effect of 5% rule. Using 7,088 non-financial firm-year observations listed on the Korea Stock Exchange from 2006 to 2012, we analyze the relation between trading volume and 5% rule disclosure. The results show that the daily and abnormal trading volume is increased when 5% rule disclosure is released. Moreover, the trading volume is significantly increased during cooling period. Specifically, trading volume is significantly greater when one day before cooling period or the expiration day of cooling period. We also find the information effect of firms with stable ownership structure before 5% rule disclosure is relatively smaller than the firms with unstable ownership structure with unstable ownership structure. These results imply that capital market participants use the information from 5% rule disclosure and reflect in their real economic decision.

• East Asian Economic Review
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• 제22권4호
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• pp.531-555
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• 2018

This article aims to review the monetary policy rule under inflation targeting framework focusing on Mongolia. The empirical analysis estimates the policy reaction function to see if the inflation targeting has been linked with a monetary policy rule emphasizing on inflation stabilization since its adoption in 2007. The study contributes to the literature by examining the linkage between Mongolian monetary policy rule and inflation targeting directly and thoroughly for the first time and also by taking into account a recent progress in the inflation targeting framework toward forward-looking mode. The main findings were: the Mongolian current monetary policy rule under inflation targeting is characterized as inflation-responsive rule with forward-looking manner (one quarter ahead); the inflation responsiveness is, however, weak enough to be pro-cyclical to inflation pressure; and the rule is also responsive to exchange rate due to the "fear of floating", which weakens the policy reaction to inflation and output gap.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2002년도 하계학술대회 논문집 A
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• pp.229-231
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• 2002

The digital current differential relaying scheme is widely used for primary protection of 765(kV) power transformer. The current differential relay pickup the internal fault at the threshold which is set at 30% of rating current. Margin of 30% include current transformer error 5%, relay error 5%, on load tap changer error 7% and margin factor 140% obtained from the field experience. In this paper transformer protection relay and relay setting rule of high voltage power system are discussed. And we verify the correctness of relay setting rule with current differential relay using Matlab simulation.

• East Asian Economic Review
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• 제27권2호
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• pp.115-143
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• 2023

In this paper, we address how the monetary authority should react to financial market status and exchange rate movements in a small open economy New Keynesian model with financial frictions due to asymmetric information between savers and borrowers. We show that the small economy with financial frictions is more susceptible to the exogenous shocks under the fixed exchange rate regime than under the flexible exchange regime. The small economy experiences a more prolonged and deeper economic recession under the fixed exchange rate regime than under the flexible exchange rate regime. The monetary policy taking into account external finance premium is better than the interest rate rule without considering the financial market status.