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China's Economic Policy Uncertainty Shocks and South Korea's Exports: A TVP-VAR Approach with an SMSS Structure

  • Liu, Lin;Zhang, Manman;Li, Wei
    • Journal of Korea Trade
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    • v.24 no.4
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    • pp.1-17
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    • 2020
  • Purpose - Since China has been South Korea's biggest export destination, uncertainty shocks originating from it would influence South Korea's exports. This paper evaluates the effects of China's economic policy uncertainty on Korea's exports to explore the transmission channels. Design/methodology - Incorporating endogeneities and nonlinearities, this study employs a quarterly time-varying parameters vector autoregressive model to investigate the relationships between China's economic policy uncertainty and Korea's exports, where the overparameterization due to time-varying specifications is overcome by a novel stochastic model specification search framework. According to previous theoretical studies, this paper assesses two channels, demand shock channel and exchange rate channel, through which foreign uncertainty affects Korea's exports. This paper identifies the primary drivers of Korea's aggregate exports and analyzes the rationales for the time-variant impacts of China's economic policy uncertainty on Korea's exports to China. Findings - Our empirical results reveal that Korea's aggregate exports are less responsive to China's economic policy uncertainty shocks and significantly move together with global demand. In contrast, its bilateral exports to China are highly responsive in a negative and time-variant way. Moreover, Chinese investment is an important channel through which China's economic policy uncertainty affects Korea's exports to China after 2010. Further, the time-variant effects of China's economic policy uncertainty on Korea's exports to China are related to changes in China's foreign trade policies, global economic conditions, and China's degree of economic freedom. Originality/value - Few previous studies touch the effects of external uncertainty shocks on South Korea's exports. This paper attempts to fill this gap and explicitly investigate the impacts of China's economic policy uncertainty on Korea's exports from a time-varying perspective. As Korea is an export-oriented economy, this study provides insights for the Korean government to understand the transmissions of external uncertainty better.

The Impact of Price Discount on Perceived Value, Willingness to Buy, and Search Intentions according to the Level of Consumers' Involvement (구매자의 관여도 수준에 따라 가격할인이 지각가치, 구매의향, 탐색의도에 미치는 영향)

  • Yoon, Nam-Soo;Kim, Jae-Yeong;Park, Young-Kyun
    • Journal of Distribution Science
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    • v.9 no.1
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    • pp.39-48
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    • 2011
  • One of the major reasons for fierce competition among firms is that they strive to increase their own market shares in the same market with similar and apparently undifferentiated products in terms of quality and perceived benefit. Due to such changes in the marketing environment, differentiated after-sales service and diversified promotion strategies have become more important in the race to gain a competitive advantage. Price discount is one of the popular promotion strategies that most retailers use, especially to increase sales, but offering a price discount does not always lead to the expected result. If marketers apply an identical price-promotion strategy without considering the characteristic differences in products and consumer preferences, the discounted price itself may make people skeptical about the quality of the product. Moreover, the changes in perceived value may appear differently depending on factors such as consumer involvement. This implies that variables such as the level of consumer involvement, brand loyalty, and external reference prices, in reality, would have different effects on how consumers perceive the value of price discounts. The variables that affect consumers' perceived values and buying decisions are diverse and complicated. Several studies have examined the effects of such variables as external reference price, selling price, and brand on consumers' perceived value of products. Results have not shown consistent patterns. Therefore, we must note that the factors affecting consumers' value perceptions and buying behaviors are diverse and that the results of studies on the same dependent variable come out differently depending on what that variable is. This study focused on the level of consumer involvement as a salient variable that supposedly affects the perceived value of a product, willingness to buy, and search intentions. We tried to examine whether a price discount affects the perceived value-such as perceived acquisition value and perceived transaction value-in different ways depending on the level of consumer involvement. In addition, we proposed managerial implications that marketers need to consider as a whole, for instance, product attributes, brand loyalty, and involvement and then established a differentiated pricing strategy, case by case, in order to effectively enhance consumers' perceived values. As a result, we found that perceived transaction value positively affects perceived acquisition value and when discounting the price of a high-involvement product enhances the consumer's willingness to buy, but perceived acquisition value does not affect the search intentions significantly. In the case of discounting prices of low-involvement products, on the other hand, the perceived transaction value has a positive effect on the willingness to buy, but the negative effect of perceived acquisition value on the search intentions was not significant. We suppose that people doubt a product's quality because of a declined perceived quality derived from a price discount. Even though the price discount enhanced the transaction value, people eventually increased their level of searching for additional product information. From the results of this study, we suggest that marketers ought to establish an appropriate value-enhancing strategy based on the understanding of which perceived value consumers rely on more when they conduct purchasing behavior because consumers perceive the degree of importance of acquisition value or transaction value differently, depending on their level of involvement.

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Privacy-Preserving Parallel Range Query Processing Algorithm Based on Data Filtering in Cloud Computing (클라우드 컴퓨팅에서 프라이버시 보호를 지원하는 데이터 필터링 기반 병렬 영역 질의 처리 알고리즘)

  • Kim, Hyeong Jin;Chang, Jae-Woo
    • KIPS Transactions on Computer and Communication Systems
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    • v.10 no.9
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    • pp.243-250
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    • 2021
  • Recently, with the development of cloud computing, interest in database outsourcing is increasing. However, when the database is outsourced, there is a problem in that the information of the data owner is exposed to internal and external attackers. Therefore, in this paper, we propose a parallel range query processing algorithm that supports privacy protection. The proposed algorithm uses the Paillier encryption system to support data protection, query protection, and access pattern protection. To reduce the operation cost of a checking protocol (SRO) for overlapping regions in the existing algorithm, the efficiency of the SRO protocol is improved through a garbled circuit. The proposed parallel range query processing algorithm is largely composed of two steps. It consists of a parallel kd-tree search step that searches the kd-tree in parallel and safely extracts the data of the leaf node including the query, and a parallel data search step through multiple threads for retrieving the data included in the query area. On the other hand, the proposed algorithm provides high query processing performance through parallelization of secure protocols and index search. We show that the performance of the proposed parallel range query processing algorithm increases in proportion to the number of threads and the proposed algorithm shows performance improvement by about 5 times compared with the existing algorithm.

A Study on External Form Design Factors of Teaching Assistant Robots for the Elementary School - With Emphasis on the Impression According to Body Feature - (초등학교 교사보조로봇의 외형 디자인 요소에 대한 연구 - 체형에 따른 인상을 중심으로 -)

  • Ryu, Hye-Jin;Kwak, So-Nya S.;Kim, Myung-Suk
    • Archives of design research
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    • v.20 no.3 s.71
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    • pp.107-118
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    • 2007
  • The aim of this paper is to suggest a design guideline for a teaching assistant robot by finding out images that satisfy the role of the teaching assistant robot, and to search for a body features that show such images. Role images of teaching assistant robots were established from literature review and factor analysis. And eight elements of body features were extracted from human's elements of body feature. Robot external form samples varied according to the body feature was modeled three-dimensionally. Children, who are the main users of teaching assistant robots, valuated the 3D robot samples projected onto wall in real size. The valuation basis was role images of teaching assistant robots, adjectives about age and gender, preference, and appropriateness as teaching assistant robots. The result of valuation was analyzed by analysis of variance, and analysis of correlation. The result revealed the fact that four elements of body feature (the ratio of head length, height, the ratio of breast girth, and waist girth) were related to role images. Among these elements, height and waist girth was more important than the rest, particularly, waist girth had strong relation with all the role images. Also, in order to reveal tender and kind image, the ratio of head length was proved to have to be adjusted according to waist girth. On the basis of these result, a design guideline for a teaching assistant robot was suggested.

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A Study on SRU & SRU Record Update Protocol for Openness and Linkage of Resources (정보자원의 개방과 연계를 위한 SRU, SRU Record Update 프로토콜 연구)

  • Lee, Ji-Won
    • Journal of Korean Library and Information Science Society
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    • v.40 no.3
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    • pp.317-336
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    • 2009
  • Several protocols have been developed to efficiently utilize a great number of distributed resources. This paper investigated the background, operations and elements of SRU and SRU Record Update protocol, compared them with other protocols, and reviewed their implementation cases. The purpose of this pager is to broaden the understanding of the two new standards and to provide a practical guide to ensure their interoperability for libraries and information service centers which want to expose their own contents and to access to external resources.

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Study on Improvement of Measurement Precision in Digital Image Correlation Measurement Method by Using Subpixel Algorithms (이미지 상관법의 서브 픽셀 알고리즘을 이용한 측정 분해능 향상에 관한 연구)

  • Kim, Seung Jong;Kang, Young Jun;Choi, In Young;Hong, Kyung Min;Ryu, Won Jea
    • Journal of the Korean Society for Precision Engineering
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    • v.32 no.12
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    • pp.1039-1047
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    • 2015
  • Contact type sensors (e.g., displacement sensor and strain gauge) were typically used to evaluate the safety and mechanical properties in machines and construction. However, those contact type sensors have been constrained because of measurement problems such as surface roughness, temperature, humidity, and shape. The Digital Image Correlation (DIC) measurement system is a vision measurement system. This measurement system uses the taken image using a CCD camera and calculates the image correlation between the reference image and the deformed image under external force to measure the displacement and strain rates. In this paper, we discuss methods to improve the measurement precision of the digital image correlation measurement system. A tensile test was conducted to compare the precision improvement effects, by using the universal test machine and the DIC measurement system, with the use of subpixel algorithms, i.e., the Coarse Fine Search (CFS) algorithm and the Peak Finding (PF) algorithm.

A Study on the Application of Fashion-Related Internet Web Sites and Their Evaluation (패션관련 인터넷 사이트의 활용실태 및 평가)

  • Kim, Hee-Sook;Na, Mi-Hee
    • Korean Journal of Human Ecology
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    • v.11 no.1
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    • pp.69-78
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    • 2002
  • The purpose of this study was to investigate the application of fashion-related web sites and their evaluation. 76 college students major in fashion design were surveyed and the evaluation criteria were classified into five categories such as the accuracy/reliability, the design of a picture, the ease of application, the communication/security, and additional services. The results of this study were as follows: 1. College students used web sites mostly to search for fashion trend information from magazine and fashion information sites. 2. While the media site was excellent in the evaluation criteria such as the accuracy/reliability, the design of a picture and the communication/security, the fashion information site was excellent in the evaluation criteria such as the accuracy/reliability, communication/ security and additional services. 3. The media site and the fashion information site generally ranked high and the fashion brand site ranked low in most evaluation items. 4. By the results of ANOVA, 12 items showed significant differences out of the total 19 items. 5. Out of the total evaluation items, the design of a picture ranked highest and the external link function ranked lowest.

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Cost-based Optimization of Composite Web Service Executions Using Intensional Results (내포 결과를 이용한 복합 웹 서비스 실행의 비용 기반 최적화)

  • Park, Chang-Sup
    • Journal of KIISE:Databases
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    • v.33 no.7
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    • pp.715-726
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    • 2006
  • Web service technologies provide a standard means for interoperation and integration of heterogeneous applications distributed over the Internet. For efficient execution of hierarchically interacting composite web services, this paper proposes an approach to distribute web service invocations over peer systems effectively, exploiting intensional XML data embedding external service calls as a result of well services. A cost-based optimization problem on the execution of web services using intensional results was formalized, and a heuristic search method to find an optimal solution and a greedy algorithm to generate an efficient invocation plan quickly were suggested in this paper. Experimental evaluation shows that the proposed greedy algorithm provides near-optimal solutions in an acceptable time even for a large number of Web services.

Domain Centered Query Expansion Technique using Topic Model (토픽 모델을 사용한 도메인 중심 질의 확장 기술)

  • Lee, Sanghoon;Moon, Seung-Jin
    • KIISE Transactions on Computing Practices
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    • v.23 no.11
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    • pp.611-616
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    • 2017
  • In the area of Information Retrieval, Query Expansion is a well-known technique that uses external knowledge to increase an inquiry generated by users. However, ambiguous words used in the query decrease the performance of search tools. In this paper, we propose a solution to the above problem, by using domain knowledge which identifies the meaning of words in the query. In particular, we present a domain centered query expansion technique that magnifies a query using domains. By comparing with various query expansion models, we demonstrate that the proposed model performs better than the other models.

Restaurants settled and health management awareness of employees of the Health Education System (요식업 종사원의 보건교육 시스템의 정착 및 보건관리 인식제고)

  • Yun, Young-Hwa;Kang, Kyung-Sik
    • Journal of the Korea Safety Management & Science
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    • v.18 no.1
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    • pp.179-190
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    • 2016
  • Awareness about health is still in short supply, sufficient research and investment is falling mothayeo made, the development of image and health technology for health compared to productivity enhancement technology behind the relative reality. Through the analysis and study of special measures and health education in the country catering to propose measures and methods for this. Current analyzed and summarized to find a special health and safety training relevant provisions appear in the national legislation. By analyzing the characteristics and to leverage to workers unearthed an in-depth awareness and issues for the institutions and laws. Survey research methods to analyze the documents and government publications and research through an Internet search. Survey Research conducted a self - survey on new knowledge and attitude toward the concessionaires to sanitation target, the attitude of the sanitary administration, attitudes to hygiene education and hygiene practice Conditions received health education carried out by catering Federation regularly. Health education is a systematic settlement system for the external reality of professional education. Health and health administrators to establish an organizational structure strengthening phase. Employers and health care workers are raising awareness. Employers have a responsibility to prevent industrial accidents. Consequently, special health education targeted construction workers changed to fit the content-driven information on the species and the proper arrangement of time "based health education" currently being conducted.