• Title/Summary/Keyword: economic cycle

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Water Supply forecast Using Multiple ARMA Model Based on the Analysis of Water Consumption Mode with Wavelet Transform. (Wavelet Transform을 이용한 물수요량의 특성분석 및 다원 ARMA모형을 통한 물수요량예측)

  • Jo, Yong-Jun;Kim, Jong-Mun
    • Journal of Korea Water Resources Association
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    • v.31 no.3
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    • pp.317-326
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    • 1998
  • Water consumption characteristics on the northern part of Seoul were analyzed using wavelet transform with a base function of Coiflets 5. It turns out that long term evolution mode detected at 212 scale in 1995 was in a shape of hyperbolic tangent over the entire period due to the development of Sanggae resident site. Furthermore, there was seasonal water demand having something to do with economic cycle which reached its peak at the ends of June and December. The amount of this additional consumption was about $1,700\;\textrm{cm}^3/hr$ on June and $500\;\textrm{cm}^3/hr$ on December. It was also shown that the periods of energy containing sinusoidal component were 3.13 day, 33.33 hr, 23.98 hr and 12 hr, respectively, and the amplitude of 23.98 hr component was the most humongous. The components of relatively short frequency detected at $2^i$[i = 1,2,…12] scale were following Gaussian PDF. The most reliable predictive models are multiple AR[32,16,23] and ARMA[20, 16, 10, 23] which the input of temperature from the view point of minimized predictive error, mutual independence or residuals and the availableness of reliable meteorological data. The predicted values of water supply were quite consistent with the measured data which cast a possibility of the deployment of the predictive model developed in this study for the optimal management of water supply facilities.

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Estimation of Disaster Prevention Target Rainfall according to Urban Disaster Prevention Performance (도시방재성능에 따른 방재성능목표 강우량 산정 연구)

  • Jeong, Min-Su;Oak, Young-Suk;Lee, Young-Kune;Lee, Young-Sub;Park, Mi-Ri;Lee, Chul-Hee
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.4
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    • pp.101-110
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    • 2017
  • The National Emergency Management Agency (NEMA) presented the disaster prevention performance target rainfall (DPPTR) for disaster prevention. The estimation criteria for DPPTR is a 10 year cycle. On the other hand, the target rainfall recalculated every 10 years is difficult to reflect the current change in rainfall on climate change. In this study, the probability of precipitation using the recent rainfall data was prepared and the weights according to socio-economic criteria reflecting the urban characteristics and adjusted probability rainfall criteria were applied to the results. The difference between the existing target rainfall and recalculated result was compared. The input data for the estimated probability rainfall was selected from 6 points located in the rainfall observing station of Chungcheongnam-do, Daejeon region. As a result of the estimation, in the case of upward probability precipitation weight, some similar areas were observed. On the other hand, there were a few cases of upward or downward changes within 10 mm. Considering the rainfall variability and uncertainty due to climate change, the existing target rainfall does not present the condition properly. Therefore, hydrological designers need to calculate the target rainfall, reflecting the present condition.

Kalecki's Investment Theory and Monetary and Financial Factors (칼레츠키 투자이론과 화폐·금융변수)

  • Cho, Bokhyun
    • 사회경제평론
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    • v.29 no.1
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    • pp.119-154
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    • 2016
  • Kalecki thought that monetary and financial factors play very important roles in the processes of investment decision and expenditure. He also acknowledged that interest rate is monetary phenomenon and investment finance is provided by banks prior to savings as Keynes did, and suggested that the more is the debt, the greater is the risk of debtor and lender. However, in developing investment theory he dismissed those monetary and financial factors or substituted into actual profit or savings, because he aimed to construct the investment theory to be able to explain the 'automatic mechanism of the fluctuation of capitalist economy'. Thus it is argued that Kalecki did not consider the monetary and financial factors in his investment theory. This paper aims to modify Kalecki's investment theory so that it incorporates the monetary and financial factors, such as the willingness of banking system to lend, interest rates, the ratio of leverage which had been dismissed by him. The Kaleckian investment theory that incorporates the monetary and financial factors in Kalecki's theory of investment allows us to explain not only an automatic and regular business cycle, but also irregular excessive investment and high leverage, consequent risk increase and financial crisis occurred in the economy with developed financial system.

Youth Poverty and Employment (청년 빈곤 및 고용실태 분석)

  • Kim, Anna;Hong, Hyunwoo
    • Korean Journal of Social Welfare Studies
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    • v.49 no.2
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    • pp.93-124
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    • 2018
  • Using the Korean Survey of Household Finances and Living Conditions panel data from 2012~2016, this study analyzed youth (19~34 years) poverty and employment and examined the factors that affect employment status. The analysis revealed an increase in the proportion of young people who are students or jobless; the economic conditions of the young people varied by factors such as marital status, education, job status, and loans; and the government public transfer policy had little impact on reducing the relative poverty rate of the youth. We also examined the factors affecting the youth's employment status and the risk of being employed in low-paid jobs, using multi-logit and logit regression model respectively. Considering employment status, the older and more educated the youth were, the less frequently they were employed in temporary or daily jobs instead of regular ones, but there was no difference between genders in terms of having temporary or daily jobs. A logit analysis on the determinants of low-paid jobs demonstrated that women, the less educated, spouses or children of the household, and temporary or daily workers have a greater probability of working at low-paid jobs. As women became older, their risk of having low-paid jobs increased, which demonstrated the phenomenon of "lock-in" at low-paid jobs. Temporary or daily workers of all age groups faced a higher risk of lowpaid employment, which stood out for the youth. Based on these results, we suggest that government employment and welfare policies should consider individual characteristics of the youth and their life cycle, along with efforts to supply decent jobs, continuously and stably.

Development of Valuation Framework for Estimating the Market Value of Media Contents (미디어 콘텐츠의 시장가치 산정을 위한 가치평가 프레임워크 개발)

  • Sung, Tae-Eung;Park, Hyun-Woo
    • Journal of Service Research and Studies
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    • v.6 no.3
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    • pp.29-40
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    • 2016
  • Since the late 20th century, there has been much effort to improve the market value of media contents which are commercialized in a digital format, by fusing digital data of video, audio, numerals, characters with IT technology together. Then by what criteria and methodologies could the market value for the drama "Sons of the Sun" or the animated film 'Frozen', often referred to in the meida, be estimated? In the circumstances there has been little or no research on the valuation framework of media contents and the status of their valuation system development to date, we propose a practical valuation models for various purposes such as contents trading, review of investment adequacy, etc., by formalizing and presenting a contents valuation framework for the four types of media of movies, online games, and broadcasting commercials, and animations. Therefore, we develope computational methods of cash flows which includes production cost by media content types, provide reference databases associated with key variables of valuation (economic life cycle, discount rates, contents contribution and royalty rates), and finally propose the valuation framework of media contents based on both income approach and relief-from-royalty method which has been applied to valuation of intangible assets so far.

Herding Behavior of the Seoul Apartment Market (서울시 아파트시장의 군집행동 분석)

  • Kim, Jung Sun;Yu, Jung Suk
    • Korea Real Estate Review
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    • v.28 no.1
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    • pp.91-104
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    • 2018
  • In this study, the occurrence and degree of herding behavior as a market participant behavior in a housing market were analyzed. For the analysis method, the actual sales price was applied in the CSAD (Cross-sectional Absolute Deviation) model, which has been used the most of late for herding behavior analysis. For the analysis contents, these were subdivided into region, elapsed year, size, and market condition to analyze the regionality and the internal and external factors. For the study results, first, there was no herding behavior in the entire region of Seoul. By region, herding behavior occurred in the downtown, southeast, and northwest regions, which coincided with the results of the precedent study (Ngene et al., 2017). Second, in the market analysis by elapsed year, herding behavior was captured in dilapidated dwellings. By size, herding behavior was observed in small-scale ($60m^2$ or less) apartments and in $85m^2$ or higher and less than $102m^2$ national housing units. Third, during the time of the global financial crisis, herding behavior was not observed in all the regions, whereas when the market situations were in a boom cycle, it was observed in the northwest region. These results suggest that there is a difference from the stock market, where in a period of recession, herding behavior occurs intensively with the expanding fear of incurring losses. This study is significant in that it analyzed the market participant behaviors in the behavioral economic aspects to better understand the abnormal phenomenon in a housing market, and in that it additionally provides a psychological factor - market participant behavior - in market analysis.

Empirical Analyses on the Financial Profile of Korean Chaebols in Corporate Research & Development Intensity (국내 자본시장에서의 재벌 계열사들의 연구개발비 비중에 대한 재무적 실증분석)

  • Kim, Hanjoon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.20 no.4
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    • pp.232-241
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    • 2019
  • This study examines one of the conventional and controversial issues in modern finance. Specifically, this study identifies financial determinants of corporate R&D intensity for firms belonging to Korean Chaebols. Empirical estimation procedures are applied to derive more robust results of each hypothesis test. Static panel data, Tobit regression and stepwise regression models are employed to obtain significant financial factors of R&D expenditures, while logit, probit and complementary log-log regression models are used to detect financial differences between Chaebol firms and their counterparts not classified as Chaebols. Study results found the level of R&D intensity in the prior fiscal year, market-value based leverage ratio and firm size empirically showed their significance to account for corporate R&D intensity in the first hypothesis test, whereas the majority of explanatory variables had important power on a relative basis. Assuming that the current circumstances in the domestic capital market may necessitate gradual changes of Korean Chaebols in terms of their socio-economic function, the results of this study are expected to contribute to identifying financial antecedents that can be beneficial to attain optimal level of corporate R&D expenditures for Chaebol firms on a virtuous cycle.

Preliminary Evaluation of Domestic Applicability of Deep Borehole Disposal System (심부시추공 처분시스템의 국내적용 가능성 예비 평가)

  • Lee, Jongyoul;Lee, Minsoo;Choi, Heuijoo;Kim, Kyungsu;Cho, Dongkeun
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.16 no.4
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    • pp.491-505
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    • 2018
  • As an alternative to deep geological disposal technology, which is considered as a reference concept, the domestic applicability of deep borehole disposal technology for high level radioactive waste, including spent fuel, has been preliminarily evaluated. Usually, the environment of deep borehole disposal, at a depth of 3 to 5 km, has more stable geological and geo-hydrological conditions. For this purpose, the characteristics of rock distribution in the domestic area were analyzed and drilling and investigation technologies for deep boreholes with large diameter were evaluated. Based on the results of these analyses, design criteria and requirements for the deep borehole disposal system were reviewed, and preliminary reference concept for a deep borehole disposal system, including disposal container and sealing system meeting the criteria and requirements, was developed. Subsequently, various performance assessments, including thermal stability analysis of the system and simulation of the disposal process, were performed in a 3D graphic disposal environment. With these analysis results, the preliminary evaluation of the domestic applicability of the deep borehole disposal system was performed from various points of view. In summary, due to disposal depth and simplicity, the deep borehole disposal system should bring many safety and economic benefits. However, to reduce uncertainty and to obtain the assent of the regulatory authority, an in-situ demonstration of this technology should be carried out. The current results can be used as input to establish a national high-level radioactive waste management policy. In addition, they may be provided as basic information necessary for stakeholders interested in deep borehole disposal technology.

Additional CSP calculation method considering Human Error (휴먼에러를 고려한 추가 CSP 산정 방안)

  • Baek, Sung-Il;Ha, Yun-chul
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.22 no.1
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    • pp.759-767
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    • 2021
  • Most weapons systems that are Force Integration are expensive equipment that reflects the latest technology, and the operation and maintenance cost is increasing continuously. Factors that efficiently operate and maintain these weapon systems include maintenance plans, economic costs, and repair part requirements. Among them, predicting the repair parts requirements during the life cycle in advance is an important way to increase operation and maintenance cost efficiency and operating availability. The start of requirement analysis for repair parts is a calculation of the CSP (CSP: Concurrent Spare parts, CSP hereafter) that is distributed when the weapon system is deployed. The CSP is an essential component of achieving the operating availability during this period because the weapon system aims to successfully perform a given operation mission without resupply for an initial set period. In the present study, the CSP calculation method was analyzed, reflecting the failure rate and operating time of items, but the analyzed CSP was aimed at preparing for technical failure, but in the initial operating environment, it is limited in coping with unexpected failures caused by human error. The failure is not included in the scope of free maintenance and is a serious factor in making the weapon system inoperable during the initial operation period. To prevent the inoperable status of a weapon system, CSP that considers human error is required in the initial operating environment, and the calculation criteria and measures are proposed.

Care and future expectations of families with severe disabilities (중증장애 가족의 돌봄과 미래기대)

  • Shin, Kyung-An
    • Journal of Industrial Convergence
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    • v.18 no.6
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    • pp.139-146
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    • 2020
  • Care of people with severe disabilities requires care throughout their life cycle compared to non-disabled families. For this reason, carers of severely handicapped families are highly likely to have negative feelings throughout the family as well as daily stress. Disabled families also have a high rate of experiencing difficulties between non-disabled children or married couples in life centered on the disabled. In particular, the rapid aging in Korea affects the lives of the elderly disabilities along with the aging of the caregivers. The study explored alternatives to realistic support through the past and present experiences of caregivers with disabilities through qualitative research methods, and derived hopes and expectations for the future as follows.First, after confirming the disability for infants and toddlers with disabilities, information about the support system or system is provided from the rating agency. Second, providing "customized care support" suitable for the type of disability or individual characteristics at the social, political, institutional, and economic levels. Third, the provision of programs for non-disabled children and the provision of healing programs only for families with disabilities or those with disabilities. Fourth, the provision of spaces and programs that provide rest and rest for adults with disabilities. Fifth, the application of a long-term care system for the elderly reflecting the aging age of the disabled and institutionalization of community care for the disabled. The research is meaningful in that it presents discussion points for improving the quality of life of adults and the elderly with disabilities.