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THE FOREIGN EXCHANGE RATE UNDER RATIONAL EXPECTATION (이성적(理性的) 기대하(期待下)의 환율행태분석(換率行態分析))

  • Yu, Il-Seong
    • The Korean Journal of Financial Management
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    • v.6 no.1
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    • pp.31-62
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    • 1989
  • By using deterministic dynamic models, we observe the behavior of the foreign exchange rate of a small open economy with rational expectation formation and different restrictions on the international economic integrations. First, an economy connected to the world by purchasing power parity and uncovered interest parity is studied in the next section. In both sections, financial assets available in the economy are domestic money and bonds. Stocks are added as a financial instrument in the next section, and real capital accumulation is also taken into account. Furthermore, the economy concerned there is fairly autonomous, and not directly governed by either purchasing power parity or uncovered interest parity. The expectation formation used throughout the whole paper is complete perfect foresight, which is the certainty version of rational expectation and free from any forecast errors. It is found that upon monetary expansion the short run depreciation of the foreign exchange rate is a fairly robust result regardless of the degree of the international economic integration, while it is not true for fiscal expansion. The expectation on the long run state significantly affects the short run response of the exchange rate. All of our models postulate that the current account should be balanced eventually. As the result, the short run behavior of the exchange rate is affected by the expectation on the long run balance and may well be a blend of the traditional flow view and modem asset view. The initial overshooting of the exchange rate is easily observed even in the fairly autonomous economy Furthermore, the initial overshooting is not reduced over time, but augmented for some time before it is eventually eliminated. As long as we maintain rational expectaion, introducing time delay in the adjustment of the foreign goods price to the foreign exchange rate does not make much difference.

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Comparison of Harvesting Productivity and Cost of Cable Yarding Systems (가선집재작업에서의 작업 생산성 및 비용 분석)

  • Han, Won Sung;Han, Han-Sup;Kim, Nam-Hun;Cha, Du Song;Cho, Koo Hyun;Min, Do Hong;Kwon, Ki Cheol
    • Journal of Korean Society of Forest Science
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    • v.103 no.1
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    • pp.87-97
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    • 2014
  • This study was conducted to provide field-based harvesting study information which can be used to select an optimal cable system for certain work conditions on steep grounds (> $20^{\circ}$ ground slope) in Korea. To accomplish this study objectives, we evaluated three cable yarding systems (RME-300T tower-yarder, Chuncheon tower-yarder, FARMI tractor winch) working in typical work conditions for their yarding productivity and operational efficiency. Those yarders are commonly used for removing logs or trees on steep grounds in Korea. Under the same work conditions (average DBH of tree to be cut, 20 cm; yarding distance, 60 m; lateral yarding distance, 10 m; and machine utilization rate, 70%), the average productivities were $33.04m^3$/day, $38.47m^3$/day, and $14.17m^3$/day for RME-300T, Chuncheon tower-yarder, and FARMI, respectively. Our standardized cost comparison study also showed that the yarding cost was highest at $37,835won/m^3$ with FARMI, followed by RME-300T at $25,105won/m^3$ for the same work conditions. We found the lowest yarding cost with the Chuncheon tower-yarder at $20,520won/m^3$ which was resulted primarily from high yarding productivity at the yarding distance (60 m). Our analysis suggested that a small machine such as FARMI could be a low-cost yarding machine option for a cable yarding job with a short yarding distance (40 m or less). The Chuncheon tower-yarder is well suited for a mid-range yarding distance job in Korea, ranged between 40 to 140 m. If yarding distance were longer than 140 m, the RME-300T tower yarder appears to be most cost-effective.

Clinicopathological Features of Borrmann Type IV Gastric Carcinomas (Borrmann 제4형 위암의 임상병리학적 특성)

  • Kang, Tae-Ho;An, Ji-Yeong;Kim, Yong-Seok;Choi, Min-Gew;Noh, Jae-Hyung;Sohn, Tae-Sung;Kim, Sung
    • Journal of Gastric Cancer
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    • v.6 no.4
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    • pp.270-276
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    • 2006
  • Purpose: The prognosis of Borrmann type IV gastric cancer is poorer than that of the other gastric carcinomas. We compared the clinicopathological features of Borrmann type IV gastric cancer with those of other types of cancer and analyzed the significance of a Borrmann type IV carcinoma as a prognostic factor Materials and Methods: We retrospectively reviewed the clinicopathologic features, TNM stage and survival rates of 4,389 gastric cancer patients who received surgical management at Samsung Medical Center between January 1995 and December 2004. Results: Patients with a Borrmann type IV gastric carcinoma had a more advanced stage than patients with other types of gastric carcinomas at the initial diagnosis, and the curative resection rate was lower. The 5-year survival rate of patients with Borrmann type IV cancer was 20.7%, and that of patients with other types of cancer was 50.3%. The 5-year survival rate of patients with Borrmann type IV gastric carcinomas was significantly lower than that of patients with other types of gastric carcinomas at the same TNM stage. In univariate and multivariate analyses, the depth of invasion, the nodal state, distant metastasis, the TNM stage, curability and the presence of a Borrmann type IV carcinoma were independent prognostic factors in cases of gastric cancer. Conclusion: Compared to the other types of gastric carcinomas, a Borrmann type IV carcinoma has unique clinicopathological features. The prognosis should be predicated considering the differences between Borrmann type IV qastric carcinomas and other types of gastric carcinomas, and multimodal and intensive therapies are needed in patients with a Borrmann type IV gastric carcinoma.

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Evaluation of Psychosocial Impact and Quality of Life in BRCA Mutation Family (BRCA 돌연변이 가계의 심리상태 및 삶의 질 평가)

  • Han, Sang-Ah;Kim, Sai-Rhee;Kang, Eun-Young;Kim, Jeong-Hyun;Ha, Tae-Hyeon;Yang, Eun-Joo;Lim, Jae-Young;Han, Won-Shik;Noh, Dong-Young;Kim, Sung-Won
    • Journal of Genetic Medicine
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    • v.7 no.1
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    • pp.67-77
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    • 2010
  • Purpose: The aims of this study are to evaluate psychological impact and quality of life according to the cancer diagnosis and mutation status in Korean families with BRCA mutations. Materials and Methods: Seventeen affected carriers (AC), 16 unaffected carriers (UC) and 13 healthy non carriers (NC) from 13 BRCA mutation families were included in the study. Outcomes were compared with regard to depression (Beck Depression Inventory), anxiety (State-Trait Anxiety Inventory, STAI), optimism (Reevaluation of the Life Orientation test, LOT-R), knowledge of hereditary ovarian cancer, and quality of life (QoL) (SF-36v2 Health Survey, physical component score [PCS], mental component score [MCS]) among three groups. Result: Level of depression, optimism, and PCS were similar in AC, UC, and NC. Anxiety score was elevated in all three groups. MCS was significantly low in AC than in UC and NC (P=0.009, P=0.017). Knowledge of hereditary breast and ovarian cancer was high in AC than NC (P=0.001). MCS was significantly related to whether patient was affected by cancer (P=0.043) and has occupation (P=0.008) or not in multivariable analysis. Conclusion: From this cross sectional study, psychological adverse effect was not related to the carrier status of BRCA mutation. Elevated anxiety in BRCA family members was observed but, independent to affection and the type of genetic mutation. AC showed low mental QoL. Further effort to understand psychological impact and QoL of genetic testing in BRCA family members is required for follow-up in clinical aspects.

Principle and Recent Advances of Neuroactivation Study (신경 활성화 연구의 원리와 최근 동향)

  • Kang, Eun-Joo
    • Nuclear Medicine and Molecular Imaging
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    • v.41 no.2
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    • pp.172-180
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    • 2007
  • Among the nuclear medicine imaging methods available today, $H_2^{15}O-PET$ is most widely used by cognitive neuroscientists to examine regional brain function via the measurement of regional cerebral blood flow (rCBF). The short half-life of the radioactively labeled probe, $^{15}O$, often allows repeated measures from the same subjects in many different task conditions. $H_2^{15}O-$ PET, however, has technical limitations relative to other methods of functional neuroimaging, e.g., fMRI, including relatively poor time and spatial resolutions, and, frequently, insufficient statistical power for analysis of individual subjects. However, recent technical developments, such as the 3-D acquisition method provide relatively good image quality with a smaller radioactive dosage, which in turn results in more PET scans from each individual, thus providing sufficient statistical power for the analysis of individual subject's data. Furthermore, the noise free scanner environment $H_2^{15}O$ PET, along with discrete acquisition of data for each task condition, are important advantages of PET over other functional imaging methods regarding studying state-dependent changes in brain activity. This review presents both the limitations and advantages of $^{15}O-PET$, and outlines the design of efficient PET protocols, using examples of recent PET studies both in the normal healthy population, and in the clinical population.

Sleep Patterns of Pregnant Women (임부의 수면양상)

  • Choi, Byeung-Sun;Yoon, Jin-Sang
    • Sleep Medicine and Psychophysiology
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    • v.5 no.1
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    • pp.45-53
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    • 1998
  • Objectives : The change of sleep patterns commonly occurs in association with the pregnancy. This study was to investigate sleep habits during the course of normal pregnancy. Methods : Sleep habits questionnaire was administered to healthy women in their first trimester(TR1) of pregnancy and then the same questionnaire was repeatedly administered during their second(TR2) and third(TR3) trimesters. The following aspects were assessed : patterns of night sleep, daytime status, sleep posture, reasons for sleep alteration, and the experience of any particular parasomnias, as well as sleep problem-related treatment or medication. Data analysis was based on 26 women who maintaind good health throughout their pregnancy and completed the questionnaire three times. Results : In comparisons between each trimester and non-pregnant state, total night sleep time, daytime tiredness, and sleepiness were significantly increased in all trimesters. Sleep latency was significantly decreased in TR1 and TR2, but not in TR3. In addition, refreshed feeling on waking the following day was significantly decreased and the number of awakenings during night sleep was significantly increased in TR3, but not in TR1 and TR2. In comparisons between trimesters, there was a significant increase in sleep latency, daytime sleepiness and the number of awakenings during night sleep and a significant decrease in refreshed feeling on waking the following day in TR3 compared to TR1 and TR2. Over the course of pregnancy, the rate of lateral position during sleep was gradually increased and all the pregnant women took the lateral sleeping posture in TR3. The major reasons for sleep pattern alteration were nausea, vomiting and heartburn in TR1, urinary frequency, fetal movement and ache in hips in TR2, and urinary frequency, fetal movement, cramp in legs and backache in TR3. Conclusion : These findings are expected to be useful for educating pregnant women about sleep hygiene. In future studies, the underlying factors and mechanisms regarding sleep patterns during pregnancy will need to be clarified.

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Sleep Patterns, Daytime Sleepiness and Personality Factors in Rotating Shiftworkers (순환제 교대근무자의 수면양상과 주간의 졸리움 및 성격요인과의 관련성)

  • Kim, Hyun;Kim, Leen;Suh, Kwang-Yoon
    • Sleep Medicine and Psychophysiology
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    • v.5 no.1
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    • pp.71-79
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    • 1998
  • Objectives : This study was to evaluate sleep patterns and daytime sleepiness resulting from rotating shiftwork. The authors, also, tried to find out the relationship between the severity of daytime sleepiness and personality factors. Methods : The subjects consisted of 41 female rotating shiftwork nurses and the control group consisted of 39 female day timeworkers. All of them completed the Sleep questionnaire of Korea University Sleep Disorder Clinic, the Epworth Sleepiness Scale(ESS), the 16 Personality Factors(16PF), the Beck Depression Inventory(BDI) and the State Trait Anxiety Inventory(STAI). Multiple regression analysis of 16PF of the rotating shiftwork nurses was done to find out possible predictors of the severity of daytime sleepiness. Results : The mean duration of deprived sleep due to rotating shiftwork was $64.26\;{\pm}\;14.54\;min$. The frequency of sleep difficulty($1.24\;{\pm}\;1.17\;day/week$ vs $0.67\;{\pm}\;1.31\;day/week$, p < 0.05), time needed to fall asleep($103.05\;{\pm}\;73.48\;min$. vs $70.00\;{\pm}\;60.08\;min$, p < 0.05), sleep duration when having some difficulties in sleep ($204.25\;{\pm}\;79.90\;min$. vs $280.44\;{\pm}\;111.59\;min$., p < 0.001), recent changes in energy($x^2\;=\;4.16$, p < 0.05), worrying about sleep($x^2\;=\;11.08$, p < 0.05), and taking naps($x^2\;=\;4.98$, p < 0.05) showed significant differences between rotating shiftworkers and normal controls. The ESS socre of shiftworkers ($8.68\;{\pm}\;3.04$) was greater than that of normal controls ($6.86\;{\pm}\;3.04$)(p < 0.01). Personality factors such as C factor($R^2\;=0.283$), I factor($R^2\;=0.358$) and G factor($R^2\;=0.470$) were related with the severity of the daytime sleepiness(p < 0.001). Conclusions : The rotating shiftwork nurses had more difficulties in sleep such as having difficulties in falling asleep and in maintaining sleep, and showed lowered energy, decreased senses of well-being and so on. The rotating shiftwork nurses experienced more severe daytime sleepiness than controls did. Personality factors, such as C factor, I factor, and G factor of 16PF were suggested to be useful for predicting the severity of daytime sleepiness resulting from rotating shiftwork.

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Analysis of Overseas LNG Bunkering Business Model (해외 LNG벙커링 비즈니스 모델 분석)

  • Kim, Ki-Dong;Park, So-Jin;Choi, Kyoung-Sik;Cho, Byung-Hak;Oh, Yong-Sam;Cho, Sang-Hoon;Cha, Keunng-Jong;Cho, Won-Jun;Seong, Hong-Gun
    • Journal of the Korean Institute of Gas
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    • v.22 no.1
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    • pp.37-44
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    • 2018
  • As the international Maritime Organization is tightening up the emission regulation vessel, many countries and companies are pushing ahead the LNG fuel as one of long term solution for emission problems of ship. as a study on the way to conduct business for LNG bunkering around the world, this study was analyzed in view-point of business models focused on major countries such as Japan, China, Singapore, Europe and United States. The results of this study are as follows. China first established a nation-centered LNG bunkering policy. And then, the state and the energy company have been cooperating and carrying on LNG bunkering business for LNG fueled ships. Some countries in Europe and United States are in the process of LNG bunkering business mainly with private company. To obtain cheaper LNG fuel than bunker-C, the private company has a business model of LNG bunkering on their own LNG fueled ships, while securing LNG with high price competitiveness through partnership with middle class operators such us LNG terminal and natural gas liquefaction plant. Also, the LNG bunkering business around the world is focused on private companies rather than public corporations, but it was going to be focused on large energy companies because the initial cost required to build LNG bunkering infrastructure. Three models (TOTE model, Shell model, ENGIE model) of LNG bun kering business are currently being developed. It has been found that the way in which LNG bunkering business is implemented by different countries is applied differently according to the enterprise and national policy.

A Study on Commemoration Characteristics of Vietnam War Memorials in the United States of America (미국에 있는 베트남전쟁 메모리얼에 나타난 기념성)

  • Lee, Sang-Seok
    • Journal of the Korean Institute of Landscape Architecture
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    • v.43 no.1
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    • pp.1-15
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    • 2015
  • The purpose of this study was to analyze the commemoration characteristics of Vietnam War Memorials(VWM) in the United States(VWMUS). Through site survey and internet research, the researcher selected 87 VWMUS except monuments simply with markers, and analyzed 5 analysis items: design concepts, spatial characteristics, landscape details, sculptures, and interpretive texts and symbols. The results are as follows: 1. The analysis revealed that the main concepts of VWMUS were to cherish victims of the Vietnam War(85 sites (97.7%)), show veteran's dedication for country(85 sites(97.7%)), and publicize the contribution of groups by troop, regional, and membership(84 sites(96.6%)). 2. Most VWMUS were located in memorial parks and plazas. 59 memorials(67.8%) were designed to pursue the completion of each memorial assuming the form of symmetry and circles. On the other hand, 12 memorials(13.8%) were typed memorial walls and 11 memorials(12.6%) were formed by spatial sequence including various landscape details and grading. 3. Stone walls were mainly used to cherish victims of the War at 65 memorials(74.7%), and also, Flags like the Stars and Stripes, POW MIA flags, and state flags were hoisted to symbolize memorial's identity at all memorials. Additionally, Benches, monuments, markers, posts and columns, ponds and channels, Helicopters were partially introduced some memorials. 4. Sculptures were used 21 memorials(24.1%) which were smaller in numbers than other War Memorial in the U.S.A., for black stonewall were used for the main element of VWMUS. Except for a few sculptures that aimed to represent the Vietnam War symbolically and narratively, 16 memorials(18.4%) were formed to realistically express the image of wounded soldiers and their hardship in the Vietnam War. 5. KIA, MIA, Veteran's name were written and their images depicted on walls, Also, the symbolic phrase, 'ALL GAVE SOME, SOME GAVE ALL' and 'DUTY, HONOR, COUNTRY' were written on the memorials walls, and the POW MIA symbols were printed on the flags and engraved on walls. 6. In the United States of America, Democratic patriotism was considered a main ideological value in VWMUS by engraving KIA MIA's names on the walls, hoisting flags Stars and Stripes and POW MIA, and writing symbolic phrases 'ALL GAVE SOME, SOME GAVE ALL' and 'DUTY, HONOR, COUNTRY'. On the contrary, in Vietnam, nationalism, patriotism, and socialism were emphasized as main ideologies through raising war victory and resistance to foreign power as well as writing the symbolic phrase 'TO-QUOC-GUI-CONG' meaning 'our country remember your achievement' on memorial towers. Further study will be required to comparatively analyze VWM in order to understand national characteristics in Korea, Australia, U.S.A, and Vietnam.

The Development and Features of Discussion about Community Design (커뮤니티디자인의 전개와 논의의 특징)

  • Kim, Yun-Geum;Reigh, Young-Bum
    • Journal of the Korean Institute of Landscape Architecture
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    • v.40 no.3
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    • pp.22-31
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    • 2012
  • This study was prompted by the recognition that the tenn "Community design" has recently been used in diverse practical fields without prior discussion about its underpinnings, a potentially problematic state of affairs. Based on these problems, this study studied the special quality about the concept of community design. Community design can be discussed from two perspectives. The first views community design as a design that concerns the community, an inhabited area populated with people who have common interests, at least in part because of geographic proximity to each other. The second sees community design as a movement that started in the 1960s and places a great importance on democratic decision making, communication, and collaboration. This study will focus on the latter. This branch of community design encompasses an advocacy planning approach, in which design professionals represent deprived communities in their resistance against comprehensive redevelopment. This was associated to the wider social protest movements of the mid and late 1960s. In the 1970s, this branch of community design was developed alongside community design centers, which provided local-level technical assistance to the communities on a number of issues, such as design and planning. The discussion about community design started in earnest from the early 1980s. A review of the literature m community design reveals several characteristics. First, community design deals with the relationship between the physical environment and several aspects of a region, including the social and cultural. Second, it involves community participation, which many scholars believe is the core of community design. Specifically, community design has been characterized by increased participation and democratic debate and decision making. The Third is about communication methods. Since the 1960s, diverse methods had been developed to promote communication effectively. Finally, community design must consider the relationship between designers, who typically value aesthetics and efficiency of form, and the needs of the community with which they are working. Indeed, some scholars believe that this relationship is generally contentious, although the designer can also be thought of as the facilitator of the community's needs. As community design practice becomes more prevalent, a review of the foundation of institution and policy and the role of experts is also needed. The community design movement bas been theorized ex post facto through diverse discussion that has sought to ascribe meaning and direction to its practice. In other words, the relationship between this theory and practice is cyclical. Therefore, this study can contribute to the virtuous circle.