• Land and Housing Review
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• v.10 no.1
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• pp.9-18
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• 2019

This study examined the dynamic change in the co-movement between the house price rates with the network methods of Mantegna (1999). First, Capital area and non-capital area form independent clusters which have the heterogeneous co-movement pattern. In other words, Capital and non-capital areas have low connectivity in the housing market. Also, if the co-movement between capital areas have been strengthened, the co-movement between non-capital areas have been weakened. The results of the dynamic analysis show that the degree of the co-movement in the housing market is continuously increased. The members of the co-movement group in the capital area are strongly steadied by all periods. However, the members in the non-capital area have been changed according to the period. Accordingly, it is necessary to establish policies based on various information for the housing market of the non-capital area rather than policies targeting the capital area. In addition, Apartments in Korea are more likely to be used as investment or speculative assets than other types of houses. It has been confirmed that this is Gangbuk, which is locatied in the northern part of Seoul, appears to be a region where the Spillover Effects of price fluctuation can be triggered in the housing and apartment market. However, the housing market in Gangnam, which is locatied in the southern part of Seoul, was divided into low systematic risk.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2771-2779
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• 2018

The recent financial crises cause the co-movement and transmit the risk across different markets and assets. It is well known that market fear affects the quality of credit in the financial markets. In this context, this study examines the co-movement between the volatility index (VIX) of the Chicago Board Options Exchange (CBOE), or VIX, and six emerging countries' credit default swaps (CDSs), by implementing wavelet coherence. Our research aims at revealing whether the VIX can be used to hedge against the bubble behavior of the CDS market in different investment holding periods (short-run, medium-run, and long-run), as well as whether either market can be used to manage and hedge overall market downside risks. The wavelet coherence results show a high degree of co-movement between the VIX and CDS during the 2007-2009 global financial crisis, across the 16-64 weeks' frequency band. In addition, we observe that the positive correlation between the VIX and the CDS markets, implying that the market turmoil intensifies the co-movement between the VIX and CDS markets.

• 한국터널공학회:학술대회논문집
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• 2005.04a
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• pp.335-340
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• 2005

Recently, According to increased tunnel accident, a matter of concern in tunnel fire safety is on an interesting trend. In case of tunnel fire, Evacuation is a primary factor for refugee safety. Therefore safety measures should be taken to increase capability of evacuation. Evacuation walking speed and characteristics of movement in tunnel is differ from building or outdoor site so, these characteristics must be considered in tunnel safety planning. In this study has performed to evaluate the smoke movement and characteristics of evacuation by full-scale test method. and aimed for basic data establishment in characteristics of evacuation for tunnel safety system design.

• Korea Real Estate Review
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• v.24 no.1
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• pp.39-52
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• 2014

This study examines the degree of global co-movement & spillover effect among the housing price of ten major countries of OECD including Korea, based on the 3 hypothesis. The data used in this study is quarterly house price index of OECD countries from 1975 to 2012. VAR model is used to analyze the co-movement, and Granger causality methodology is used for the analysis of Spillover Effect. It is found that entire period of study is that the global house prices showed the co-movement, but the coefficient was weak. Since 2008 global financial crisis, the co-movement increased significantly and the adjusted R-square of this model increased 78% compared to the entire period (1975-2012). In general, all hypotheses in this study were significant, and the common shock hypothesis were most significant. In case of Korea, the degree of co-movement was weak compared to the other countries and spillover effect was independent since 2008.

• Proceedings of the Korea Contents Association Conference
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• 2006.05a
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• pp.43-46
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• 2006

This study examined the stock return co-movement among Korean digital contents industry, American NASDAQ, and Japanese NIKKEI225. This is to identify the reaction of Korean digital contents industry on the movement of foreign stock market. To investigate the co-movements, during the period of 1999 to 2005, daily logarithm difference returns of each stock market indices are tested by the methodology of Granger(1963, 1969)'s causality test. The positive influence from NASDAQ index to Korean digital contents industry index are found, but not vice versa. It means that the market value of firms in Korean digital contents industry affected by the movement of American NASDAQ market which composite with digital IT firms. However, the co-movements with NIKKEI225 did not found.

• Korea Trade Review
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• v.47 no.1
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• pp.99-114
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• 2022

This paper analyzed the dynamic conditional correlation between the carbon emission trading prices of Korea, China, EU, New Zealand. This paper was analyzed using the daily data of carbon emission trading prices of each country from January 12, 2015 to January 13, 2021 using the DCC-GARCH model. Summarizing the research results, first, the dynamic conditional correlation between carbon emission trading prices in the EU, Korea, and China, excluding New Zealand, was strong, indicating that there was a co-movement phenomenon. Second, it was found that carbon emission trading prices in major countries have a stronger tendency to co-movement due to global shocks. Third, it appears that the dynamic conditional correlation between the carbon emission trading prices of Korea and China is gradually strengthening. This study confirmed that the co-movement between carbon emission trading prices in Korea and other countries gradually intensified as time passed. In particular, it is meaningful in suggesting the implication that the phenomenon of co-movement between carbon emission trading prices in Korea and China is gradually intensifying.

• The Journal of the Korea Contents Association
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• v.6 no.8
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• pp.78-85
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• 2006

This study examined the stock return co-movement among Korean digital contents industry, American NASDAQ, and Japanese NIKKEI225. This is to identify the reaction of Korean digital contents industry on the movement of foreign stock market. To investigate the co-movements, during the period of 1999 to 2005, daily logarithm difference returns of each stock market indices are tested by the methodology of Granger(1963, 1969)'s causality test. The positive influence from NASDAQ index to Korean digital contents industry index are found, but not vice versa. It means that the market value of firms in Korean digital contents industry affected by the movement of American NASDAQ market which composite with digital IT firms. However, the co-movements with NIKKEI225 did not found.

• East Asian Economic Review
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• v.24 no.1
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• pp.31-59
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• 2020

China's increasing trade volume and continuous integration with global financial markets have strengthened the influences of the renminbi on the exchange rates of different currencies. Previous studies find closer co-movements between the renminbi and other currencies. This paper is novel to investigate the underlying determinants of the co-movement further, using panel data of over thirty-four countries. Our results show that stronger bilateral trade and financial linkages with China have a positive association with the currency co-movement. Moreover, countries with greater flexibility in exchange rate regimes show stronger co-movements. These findings imply that growing co-movements are the consequence of autonomous decisions at the market rather than that of management by governments or central banks.

• International Commerce and Information Review
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• v.12 no.1
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• pp.153-175
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• 2010

This study conducts an analysis to verify an existence of co-movement among the exchange rates of Yuan-Dollar, Yen-Dollar and Won-Dollar by using time series data. An analysis period is divided into two periods. Therefore the first analysis period is from Dec. 17, 1997 to Jul. 21th. 20, 2005 and the second analysis period is from Jul. 25th, 2005 to Nov. 20th. 2009. This paper uses VAR model and daily data of exchange rates during the period. According to the result of an empirical analysis, yuan-dollar exchange rate has affected by th other variables ; yen-dollar exchange rate. It can be proved by result of an impulse response test and variance decomposition test in the second period. Therefore the won-dollar, yen-dollar, and Yen-dollar exchange rate has been influenced each other and the relationship will be maintained.

• Journal of Information Display
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• v.12 no.3
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• pp.125-128
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• 2011

Alignment failure sometimes occurs during the rubbing process because the rubbing cloth comes in direct contacts with the surface of the alignment film. A number of researches observed and evaluated the surface of the alignment film after the rubbing process had been reported. The real-time rubbing process has not been observed directly yet, though. In this study, the movement of the piles of the rubbing cloth during the rubbing process was observed with a high-speed camera. Furthermore, the relationship between the rubbing scratch on the alignment films and the movement of the pile was investigated. It was found that the movement of the pile affected the rubbing scratches.