• Journal of Korean Institute of Industrial Engineers
• /
• v.24 no.4
• /
• pp.475-483
• /
• 1998

Structural changes in an economy system bring about serious problems in establishing economic policies. The boom of middle-east export, the oil shock, and the recent dollar crisis in Korean economy are such examples. Hence, it is necessary to identify and estimate those structural changes. This study focuses on an output and price and analyzes structural changes in aggregate demand and supply. The aggregate demand and supply structures are described by conventional dynamic simultaneous equations model, where each structural change is represented by dummy variables and estimated by the proposed Bayesian method. By applying this model to Korean output and price, structural changes in the aggregate demand and supply are analyzed.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.42 no.3
• /
• pp.13-24
• /
• 2017

This paper aims to implement "structural changes detection procedure" in pairs trading algorithm and to show that the proposed approach outperforms the extant pair trading algorithm. Structural changes in pairs trading are defined in terms of changes in cointegrating factors and broken cointegration relationship. These changes are designed to test extant structural changes and unit root test methodologies. The simulation finds that expanding the changes in structure, increasing the mean reverting process of spread, and extending the consecutive days of broken cointegration will increase the performances of the proposed algorithm. Empirical study results are also consistent those of the simulation studies. The proposed algorithm outperforms the extant algorithm relative to risk and return given that the cumulative profit/loss has a significant upward-slope with minimal variance.

• Asia-Pacific Journal of Business
• /
• v.13 no.2
• /
• pp.23-37
• /
• 2022

Purpose - The purpose of this paper is to analyze the dynamic factors of the daily FX implied volatility based on the fractional integration methods focusing on long memory feature and structural changes. Design/methodology/approach - This paper uses the daily FX implied volatility data of the EUR-USD and the JPY-USD exchange rates. For the fractional integration analysis, this paper first applies the basic ARFIMA-FIGARCH model and the Local Whittle method to explore the long memory feature in the implied volatility series. Then, this paper employs the Adaptive-ARFIMA-Adaptive-FIGARCH model with a flexible Fourier form to allow for the structural changes with the long memory feature in the implied volatility series. Findings - This paper finds statistical evidence of the long memory feature in the first two moments of the implied volatility series. And, this paper shows that the structural changes appear to be an important factor and that neglecting the structural changes may lead to an upward bias in the long memory feature of the implied volatility series. Research implications or Originality - The implied volatility has widely been believed to be the market's best forecast regarding the future volatility in FX markets, and modeling the evolution of the implied volatility is quite important as it has clear implications for the behavior of the exchange rates in FX markets. The Adaptive-ARFIMA-Adaptive-FIGARCH model could be an excellent description for the FX implied volatility series

• Computational Structural Engineering
• /
• v.5 no.3
• /
• pp.119-126
• /
• 1992

Most civil engineering structures such as bridges, power plants, and offshore platforms are apt to suffer structural damages over their service lives caused by adverse loadings, such as earthquakes, wind and wave forces. Accumulation of structural damages over a long period of time might cause catastrophic structural failure. Therefore, a methodology for monitoring the structural integrity is essential for assuring the safety of the existing structures. A method for the damage assessment of structures by the second order inverse modal perturbation technique is presented in this paper. Perturbation equation consists of a matrix equation involving matrices of structural changes(stiffness and mass matrix changes) and matrices of modal property changes(natural frequency and mode shape changes). The damages of a structure are represented as changes in the stiffness matrix. In this study, a second order perturbation equation is formulated for the damage assessment of structures, and solved by an iterative procedure. The effectiveness of the proposed method has been investigated through a series of example analysis. The estimated results for the structural damage indicated that the present method yields resonable estimates for the structural changes.

• Proceedings of the Computational Structural Engineering Institute Conference
• /
• 2010.04a
• /
• pp.783-786
• /
• 2010

This paper presents a finite element analysis on impedance parameters of anchor plates of structural cables under the change in cable forces. To achieve the objective, four approaches are implemented as follows: Firstly, theoretical background of electro-mechanical impedance is described. Secondly, anchor plates of structural cables are selected to experimentally examine the relationship between impedance parameters and cable force changes. Thirdly, finite element analysis is performed to verify the experimental results. Fourthly, a comparison between the experimental and numerical analysis on impedance parameters of anchor plate of structural cables under cable force changes is carried out.

• Analyses & Alternatives
• /
• v.6 no.1
• /
• pp.195-222
• /
• 2022

From the economic development perspective, economic growth should accompany structural improvement in order to meet complex demands from a society. In the context of development economics, economic growth is critically dependent on successful structural advancement. The issue of structural change is also important for advanced economies as the landscape of modern industry is changing fast. Many advanced countries of slow growth are experiencing dawdling changes in industry structure. However, there is no definitive answer to the question of whether there is a causal relationship between structural change and growth. This study empirically assesses the relationship between structural change or 'speed' thereof and economic growth in developed countries of OECD. Rather than looking into the causes of structural changes, this study simply measures structural changes in OECD economies and examines if structural change is really contributing to growth. The reason why this study focuses on advanced countries of OECD is rather obvious; technological innovation and emergence of new industries pressure these countries to restructure their economies to address these new challenges though they are at stages well beyond conventional industrialization. And structural rigidity can always limit growth even in advanced countries. The main results of this study can be summarized as a positive relationship between 'change and growth'. 'Change' in this study refers to changes in the industrial structure based on value-added and was analyzed to have a close positive relationship with economic growth. This result is consistent with arguments of early development economists emphasizing structural upgrade as an indispensable process for growth and development. The result of this study potentially confirms that the main argument of development economics is valid also for advanced economies. One of our results suggests that business/professional services and social services should be main targets for restructuring for advanced economies. The rational may be that rapid convergence of manufacturing and services is a key for structural advancement in the era of new technologies. Obviously, as manufacturing technology and production are standardized, it is difficult to secure international competitiveness through traditional manufacturing alone and the role of R&D, design, logistics, and marketing is becoming more important.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 1997.10a
• /
• pp.207-210
• /
• 1997

The drastic structural changes in telecommunications industry are imposing new strains on operators, regulators and customers. Many researchers have offered diverse frameworks for the changes from the perspectives of sociology, technology, and/or economics. However, there have been few attempts to document the competitive phenomena from management perspectives because of the technological complexities and dynamism in the fundamental transition of competition. In this study, we examine competitive environment in telecommunications industry, and identified five structural elements; telecom operator, competitors, regulation, suppliers, and customer demand. The suggested framework is used to provide a basis for explaining the changes in the characteristics of individual elements and the interactions among them. The dynamic industry-specific changes will be explained through an evolutionary model. We specify the characteristics of progressive stages and the determinants of the evolution. Changes are reviewed in terms of five criteria; regulations and competitions, value chain, technology, customers demand, and internal operations. The result of this study will be useful in analyzing and predicting industry structure and major participants' strategic behaviors and decision patterns. This study can alse be extended to other industries facing dynamic structural changes.

• Journal of the Korean Society of Safety
• /
• v.19 no.3 s.67
• /
• pp.26-31
• /
• 2004

The radiation-induced changes taking place in poly(vinylidene fluoride) (PVDF) exposed to $^{60}Co$ $\gamma-ray$ irradiation were investigated in correlation with the applied doses. Samples were irradiated in air at room temperature by $^{60}Co$ $\gamma-ray$ to doses in the range of 200 to 1000kGy. Various properties of the irradiated PVDF were studied using FTIR, differential scanning calorimetry (DSC), gel fraction and elongation. $^{60}Co\gamma-ray$ irradiation was found to induce changes in chemical, thermal, mechanical and structural properties of PVDF and such changes vary depending on the radiation dose.

• Archives of Pharmacal Research
• /
• v.10 no.2
• /
• pp.110-114
• /
• 1987

To correlate the conformational changes of DNA (Calf Thymus) with entrapment of DNA into liposomes, the effect of ions ($Na^+$, $Mg^{++}$on the entrapment of calf thymus DNA into liposomes was investigated. The effect of divalent ion ($Mg^{++}$ on the structural changes of DNA indicated by decrease of observed ellipticity at 274 nm and nonspecific binding of DNA to lipid bilayers was greater than monovalent ion ($\Na^+$). But the efficiency of DNA encapsulated was not altered. These results show that entrapment of DNA into liposomes is not due to nonspecific binding and structural changes because of electrostatic forces but to mechanical capture of DNA by the internal aqueous space of liposomes although divalent ion contributes large structural changes and more nonspecific association of DNA with liposomes due to strong charges.

• BMB Reports
• /
• v.29 no.1
• /
• pp.58-62
• /
• 1996

The structural changes in the electron donor side of the PSII reaction center have been monitored since heat treatment ($45^{\circ}C$ for 5 min) of thylakoids is known to decrease the oxygen evolving activity. In heat-treated spinach chloroplast thylakoids, the inhibitory effect of 3-(3,4-dichlorophenyl)-1,1-dimethylurea (DCMU) on the electron transport activity of the PSII reaction center from diphenyl carbazide to dichlorophenolindophenol became reduced approximately 3.8 times and [$^{14}C$]-labeled DCMU binding on the D1 polypeptide decreased to 25~30% that of intact thylakoid membranes, implying that the conformational changes of the DCMU binding pocket, residing on the D1 polypeptide, occur by heat treatment. The accessibility of trypsin to the $NH_2$-terminus of the cytochrome b-559 ${\alpha}$-subunit, assayed with Western blot using an antibody generated against the synthetic peptide (Arg-68 to Arg-80) of the COOH-terminal domain, was also increased, indicating that heat-treatment caused changes in the structural environments near the stromal side of the cytochrome b-559 ${\alpha}$-subunit, allowing trypsin more easily to cleave the $NH_2$-terminal domain. Therefore, the structural changes in the electron donor side of the PSII reaction center complexes could be one of the reasons why the oxygen evolving activity of the heat-treated thylakoid membranes decreased.