• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.183-193
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• 2023

This paper proposes and examines the economic impact of infrastructure improvement on the San-En-Nanshin region in the Chubu area of Japan. We develop a single transportation computable general equilibrium (CGE) model for each subregion within the San-En-Nanshin region. The explicit modeling of the transportation infrastructure is defined based on interregional commuting flows and business trips, considering the spatial structure of the San-En-Nanshin economy. A CGE model is integrated with an interregional transportation network model to enhance the framework's potential for understanding the infrastructure's role in regional development. To evaluate the economic impact of transportation improvement, we analyze the interrelationship between travel time savings and regional output and income. The economic impact analysis under the CGE framework reveals how transportation facilities and systems affect firm and household behavior and therefore induce changes in the production and consumption of commodities and transportation services. The proposed theoretical model was tested by using data from the 2005 IO tables of each subregion and the 2006 transport flow dataset issued by the Ministry of Land, Infrastructure, Transport, and Tourism in Japan. As a result, the paper confirms the positive effect of transportation investment on the total output and income of the studied region. Specifically, we found that while economic benefits typically appear in urban areas, rural areas can still potentially benefit from transportation improvement projects.

• Korean Journal of Agricultural Science
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• v.49 no.4
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• pp.761-769
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• 2022

The Livestock Raw Material Purchase Fund is a policy to increase the export of livestock products by providing loans to exporters of livestock products (including byproducts). The policy started in 2015 and the annual budget is about 26 billion won. However, a quantitative evaluation of policy effects has not yet been made. Therefore, in this study, the economic surplus of the policy was analyzed using the equilibrium displacement model (EDM). From the results of the welfare analysis, from 2016 to 2019, producer surplus in the chicken and duck market increased by KRW 70.9 billion, while consumer surplus decreased by KRW 70 billion. In other words, the total economic surplus of the chicken and duck market increased by about one billion won during the same period due to the increase in export demand according to the policy. Therefore, the Livestock Raw Material Purchase Fund can be viewed as a policy to maintain and increase export demand for export livestock products and to improve the economic surplus of the livestock product market. Also, since the policy is based on loans, it does not place a burden on the government's finances. Therefore, this policy should continue in the future.

• Korea Trade Review
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• v.43 no.6
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• pp.1-24
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• 2018

This study analyzes the dispute settlement of between arbitration and litigation using a game theoretical approach. Many studies on arbitration have so far focused on the relevant institutions. However, there are few theoretical studies that have focused on the demand side of arbitration. The model presented here suggests conditions under which arbitration form a perfect Bayesian Nash equilibrium, provided that the players strategically choose a dispute settlement tool. Furthermore, the suggested model is used to analyze simple cases of international commercial dispute cases.

• Steel and Composite Structures
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• v.45 no.3
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• pp.305-330
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• 2022

This article aims to investigate the static deflection and stress analysis of bi-directional functionally graded porous plate (BDFGPP) modeled by unified higher order kinematic theories to include the shear stress effects, which not be considered before. Different shear functions are described according to higher order models that satisfy the zero-shear influence at the top and bottom surfaces, and hence refrain from the need of shear correction factor. The material properties are graded through two spatial directions (i.e., thickness and length directions) according to the power law distribution. The porosities and voids inside the material constituent are described by different cosine functions. Hamilton's principle is implemented to derive the governing equilibrium equation of bi-directional FG porous plate structures. An efficient numerical differential integral quadrature method (DIQM) is exploited to solve the coupled variable coefficients partial differential equations of equilibrium. Problem validation and verification have been proven with previous prestigious work. Numerical results are illustrated to present the significant impacts of kinematic shear relations, gradation indices through thickness and length, porosity type, and boundary conditions on the static deflection and stress distribution of BDFGP plate. The proposed model is efficient in design and analysis of many applications used in nuclear, mechanical, aerospace, naval, dental, and medical fields.

• Journal of the Korean Geotechnical Society
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• v.30 no.4
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• pp.35-45
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• 2014

Limit equilibrium methods of slope stability analysis have been widely adopted mainly due to their simplicity and applicability. However, the conventional methods may not give reliable and convincing results for various geological conditions such as nonhomogeneous and anisotropic soils. Also, they do not take into account soil slope history nor the initial state of stress, for example excavation or fill placement. In contrast to the limit equilibrium analysis, the analysis of deformation and stress distribution by finite element method can deal with the complex loading sequence and the growth of inelastic zone with time. This paper proposes a technique to determine the critical slip surface as well as to calculate the factor of safety for shallow failure on partially saturated soil slope. Based on the effective stress field in finite element analysis, all stresses are estimated at each Gaussian point of elements. The search strategy for a noncircular critical slip surface along weak points is appropriate for rainfall-induced shallow slope failure. The change of unit weight by seepage force has an effect on the horizontal and vertical displacements on the soil slope. The Drucker-Prager failure criterion was adopted for stress-strain relation to calculate coupling hydraulic and mechanical behavior of the partially saturated soil slope.

• Environmental and Resource Economics Review
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• v.16 no.2
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• pp.213-237
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• 2007

Discussions on regionalization of the world crude oil markets have provided important implications for the establishment of national energy policies. In particular, due to arbitrage trading, if these markets are regionalized, Korea who imports approximately 80% of the annual oil consumption from a single region may be faced with a crucial problem. Therefore, in this study, we analyzed regionalization of the world crude oil markets using causality analysis as well as cointegration method to consider temporal relationship and time lags. To analyze regionalization, we chose Dubai price for the Middle East market, Brent for the European, WTI for the U.S., and Tapis for the East Asian. For the case that long-run equilibrium existed between market prices, we used vector error correction model to analyze causal relationship, and for the case that equilibrium did not exist, we used Hsiao (1981)'s framework that can consider asymmetric time lags in the model for causality analysis. By the results of cointegration analysis, there did not exist long-run equilibrium among Dubai price and the other prices. However, we found the causal relationship among Dubai price and the other prices with one to four weeks time lags. Therefore, in effect, we could conclude that the world crude oil markets are unified supporting Adelman (1984)'s hypothesis.

• Journal of Korean Society of Transportation
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• v.23 no.5 s.83
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• pp.83-92
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• 2005

The purpose of the paper is to analyze an effectiveness before and after implementation of the median arterial bus lanes operation. The paper includes a speed analysis based on the Downs-Thomson Paradox theory, and a reliability analysis based on variance analysis of arrival time. According to the speed analysis, some road sections are now under phase 2 according to the Downs-Thomson Paradox, which is a state in which the bus speeds are greater than the car speeds. In the future it is predicted that cars and buses will reach an equilibrium speed which is in phase 3 of the multi-modal equilibrium theory. According to the reliability analysis of arrival time at each bus stop, in roads of median arterial bus lanes. the variance of arrival time is generally smaller than after the scheme implemented in eight months later.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.38 no.3
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• pp.219-225
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• 2014

In this study, to find the characteristics of the oscillation of a terminating shock wave in a transonic airfoil flow with non-equilibrium condensation, a NACA00-12,14,15 airfoil flow with non-equilibrium condensation is investigated through numerical analysis of TVD scheme. Transonic free stream Mach number of 0.81-0.90 with the variation of stagnation relative humidity and airfoil thickness is tested. For the free stream Mach number 0.87 and attack angle of ${\alpha}=0^{\circ}$, the increase in stagnation relative humidity attenuates the strength of the terminating shock wave and inactivates the oscillation of the terminating shock wave. For the case of $M_{\infty}=0.87$ and ${\phi}_0=60%$, the decreasing rate in the frequency of the shock oscillation caused by non-equilibrium condensation to that of ${\phi}_0=30%$ amounts to 5%. Also, as the stagnation relative humidity gets larger, the maximum coefficient of drag and the difference between the maximum and minimum in $C_D$ become smaller. On the other hand, as the thickness of the airfoil gets larger, the supersonic bubble size becomes bigger and the oscillation of the shock wave becomes higher.

• Applied Chemistry for Engineering
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• v.7 no.1
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• pp.67-74
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• 1996

The binary phase equilibrium experiments of carbon dioxide/1,2,3,4 ${\alpha}$-tetrahydro-1-naphthol(${\alpha}$-tetralol) system were conducted to get phase equilibrium and mixture density data at 313.2K, 343.2K and 373.2K and within pressure ranges of 6.0 MPa to 35.0MPa. The phase equilibrium apparatus was type that circulated the vapor and liquid phase, the expended volume measuring system was adopted to microsampling technique for the analysis. The phase equilibrium and mixture density data were obtained for carbon dioxide/${\alpha}$-tetralol system from liquid and vapor phase. The mole fraction of carbon dioxide in liquid phase decreases and the mole fraction of ${\alpha}$-tetralol in vapor phase increases at constant pressure according to increment of temperature, and both the densities of the vapor and liquid phase approach to the mixture critical density as the pressure increases at any temperature. For she thermodynamic analysis, the experimental data were correlated with Peng-Robinson equation in cubic equation of state and compared to theoretical values of carbon dioxide/${\alpha}$-tetralol system. The AAD result was in the range of 1.08%~8.93% in the case of K(1), and was in the range of 45.71%~72.34% in the case of K(2).

• International Area Studies Review
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• v.15 no.2
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• pp.331-350
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• 2011

This paper analyzes balance of goods for a panel data of 56 industry classification in the MTI from 1980 to 2009. This study also develops the equilibrium adjustment process, which is a trade-off between the adjustment costs towards equilibrium costs for balance of goods and the cost of being in disequilibrium. In this framework, the GMM estimation procedure is used to estimate this dynamic panel model consistently. It is found that equilibrium balances of goods in Korean adjust to the speed is very slow to 0.0389. because of this is necessary to adjust the equilibrium goods balance as the cost of goods balance deficit is larger than by the cost. In addition, the real income elasticity for goods balance of resin in Japan and Korea, the real income elasticity 4.38168 and -0.835225, respectively, the marks were consistent with economic theory. The exchange rate elasticity of goods balance in japan to 0.478435 were found in the inelastic.