• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.181-193
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• 2022

This paper seeks to investigate major macroeconomic factors and bond yield interactions in Thai bond markets, with the goal of forecasting future bond yields. This study examines the best predictive yields for future bond yields at different maturities of 1-, 3-, 5-, 7-, and 10-years using time series data of economic indicators covering the period from 1998 to 2020. The empirical findings support the hypothesis that macroeconomic factors influence bond yield fluctuations. In terms of forecasting future bond yields, static predictions reveal that in most cases, the BVAR model offers the best predictivity of bond rates at various maturities. Furthermore, the BVAR model has the best performance in dynamic rolling-window, forecasting bond yields with various maturities for 2-, 4-, and 8-quarters. The findings of this study imply that the BVAR model forecasts future yields more accurately and consistently than other competitive models. Our research could help policymakers and investors predict bond yield changes, which could be important in macroeconomic policy development.

• Journal of Society of Preventive Korean Medicine
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• v.17 no.1
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• pp.65-76
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• 2013

Objectives : Aim of this study is to contribute to establishment of the Traditional Korean Medicine (TKM) policies in the future. Final assessment for 12 of the forecasting projects was carried out on the TKM policies that deduced by professionals in 1996 whether or not to realize in 2013. Methods : We investigated governmental and private research projects, reports and papers, and laws and systems on the forecasting projects. We reviewed them through the Traditional Korean Medicine Information Portal OASIS (http://oasis.kiom.re.kr), Korean studies Information Service System (KISS) (http://kiss.kstudy.com/) and DBpia (http://www.dbpia.co.kr/), Akomnews(http://www.akomnews.com/), THE MINJOK MEDICINE NEWS(http://www.mjmedi.com/), Ministry of Government Legislation(http://www.law.go.kr/). Results : Of the 12 forecasting projects, five were judged as 'realization', four were as 'partial realization' and three were as 'un-realization', The realization rate was 75.0%. Three un-realized projects included the TKM insurance coverage for various herbal medicines, leadership secure on medical technicians and commercialization of the TKM managing system on senior medicare policy. Realization of the future forecasting TKM policy projects was decided depending on conditions such as the importance, domestic capability levels, principal agents, methods and restrains. Conclusions : Continuous studies and new developed forecasting projects for the TKM policies will be required to realize the projects in the future.

• The Journal of Industrial Distribution & Business
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• v.9 no.10
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• pp.83-89
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• 2018

Purpose - The purpose of this study examines when the optimism impact on financial asset price forecasting and the boundary condition of optimism in the financial asset price forecasting. People generally tend to optimistically forecast their future. Optimism is a nature of human beings and optimistic forecasting observed in daily life. But is it always observed in financial asset price forecasting? In this study, two factors were focused on considering whether the optimism that people have applied to predicting future performance of financial investment products (e.g., mutual fund). First, this study examined whether the degree of optimism varied depending on the direction of the prior price trend. Second, this study examined whether the degree of optimism varied according to the forecast period by dividing the future forecasted by people into three time horizon based on forecast period. Research design, data, and methodology - 2 (prior price trend: rising-up trend vs falling-down trend) × 3 (forecast time horizon: short term vs medium term vs long term) experimental design was used. Prior price trend was used between subject and forecast time horizon was used within subject design. 169 undergraduate students participated in the experiment. χ² analysis was used. In this study, prior price trend divided into two types: rising-up trend versus falling-down trend. Forecast time horizon divided into three types: short term (after one month), medium term (after one year), and long term (after five years). Results - Optimistic price forecasting and boundary condition was found. Participants who were exposed to falling-down trend did not make optimistic predictions in the short term, but over time they tended to be more optimistic about the future in the medium term and long term. However, participants who were exposed to rising-up trend were over-optimistic in the short term, but over time, less optimistic in the medium and long term. Optimistic price forecasting was found when participants forecasted in the long term. Exposure to prior price trends (rising-up trend vs falling-down trend) was a boundary condition of optimistic price forecasting. Conclusions - The results indicated that individuals were more likely to be impacted by prior price tends in the short term time horizon, while being optimistic in the long term time horizon.

• Journal of Korean Institute of Industrial Engineers
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• v.20 no.4
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• pp.135-149
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• 1994

Demand forecasting is to estimate the demand of customers for products and services. Since the future is uncertain in nature, it is too difficult for us to predict exactly what will happen. Therefore, when the forecasting is performed upon the uncertain future, it is realistic to estimate the value of demand as an interval or a fuzzy number instead of a crisp number. In this paper, we propose a demand forecasting method using the standard back-propagation algorithm and then we extend the method to the case of interval inputs. Next, we demonstrate that the proposed method using the interval neural networks can represent the fuzziness of forecasting values as intervals. Last, we propose a demand forecasting method using the transformed input variables that can be obtained by taking account of the degree of influence between an input and an output.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.44-48
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• 2015

Housing price is a key indicator of housing demand. Actual Transaction Price Index of Apartment (ATPIA) released by Korea Appraisal Board is useful to understand the current level of housing price, but it does not forecast future prices. Big data such as the frequency of internet search queries is more accessible and faster than ever. Forecasting future housing demand through big data will be very helpful in housing market. The objective of this study is to develop a forecasting model of ATPIA as a part of forecasting housing demand. For forecasting, a concept of time shift was applied in the model. As a result, the forecasting model with the time shift of 5 months shows the highest coefficient of determination, thus selected as the optimal model. The mean error rate is 2.95% which is a quite promising result.

• International Journal of Highway Engineering
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• v.18 no.3
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• pp.47-57
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• 2016

PURPOSES : This study aims to examine the differences between the existing traffic demand forecasting method and the traffic demand forecasting method considering future regional development plans and new road construction and expansion plans using a four-step traffic demand forecast for a more objective and sophisticated national highway maintenance. This study ultimately aims to present future pavement deterioration and budget forecasting planning based on the examination. METHODS : This study used the latest data offered by the Korea Transport Data Base (KTDB) as the basic data for demand forecast. The analysis scope was set using the Daejeon Metropolitan City's O/D and network data. This study used a traffic demand program called TransCad, and performed a traffic assignment by vehicle type through the application of a user equilibrium-based multi-class assignment technique. This study forecasted future traffic demand by verifying whether or not a realistic traffic pattern was expressed similarly by undertaking a calibration process. This study performed a life cycle cost analysis based on traffic using the forecasted future demand or existing past pattern, or by assuming the constant traffic demand. The maintenance criteria were decided according to equivalent single axle loads (ESAL). The maintenance period in the concerned section was calculated in this study. This study also computed the maintenance costs using a construction method by applying the maintenance criteria considering the ESAL. The road user costs were calculated by using the user cost calculation logic applied to the Korean Pavement Management System, which is the existing study outcome. RESULTS : This study ascertained that the increase and decrease of traffic occurred in the concerned section according to the future development plans. Furthermore, there were differences from demand forecasting that did not consider the development plans. Realistic and accurate demand forecasting supported an optimized decision making that efficiently assigns maintenance costs, and can be used as very important basic information for maintenance decision making. CONCLUSIONS : Therefore, decision making for a more efficient and sophisticated road management than the method assuming future traffic can be expected to be the same as the existing pattern or steady traffic demand. The reflection of a reliable forecasting of the future traffic demand to life cycle cost analysis (LCCA) can be a very vital factor because many studies are generally performed without considering the future traffic demand or with an analysis through setting a scenario upon LCCA within a pavement management system.

• Korean Journal of Remote Sensing
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• v.37 no.4
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• pp.815-831
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• 2021

Drought forecasting is crucial to minimize the damage to food security and water resources caused by drought. Satellite-based drought research has been conducted since 1980s, which includes drought monitoring, assessment, and prediction. Unlike numerous studies on drought monitoring and assessment for the past few decades, satellite-based drought forecasting has gained popularity in recent years. For successful drought forecasting, it is necessary to carefully identify the relationships between drought factors and drought conditions by drought type and lead time. This paper aims to provide an overview of recent research trends and challenges for satellite-based drought forecasts focusing on lead times. Based on the recent literature survey during the past decade, the satellite-based drought forecasting studies were divided into three groups by lead time (i.e., short-term, sub-seasonal, and seasonal) and reviewed with the characteristics of the predictors (i.e., drought factors) and predictands (i.e., drought indices). Then, three major challenges-difficulty in model generalization, model resolution and feature selection, and saturation of forecasting skill improvement-were discussed, which led to provide several future research directions of satellite-based drought forecasting.

• Journal of the Korean housing association
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• v.21 no.5
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• pp.73-81
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• 2010

With rapid development of various information and communication technologies, to forecast future became important for coping with new environment. Experts in each field of study are forecasting future society, and considerable life scenarios are derived in the process. Life scenarios help people to approach and understand future circumstances easily. Therefore, to study future housing with life scenarios as materials will be helpful to establish the direction to the development of current housing. The purpose of this research is to examine what characterizes the housing functions and life behaviors of future house and what is changing from the housing functions and life behaviors of past and present. Content analysis was used as research method. The subject was 10 future forecasting books which reflects daily life in the house, and 1 episode relating residential space as 1 analysis unit, the total of 213 episodes were analyzed as materials. As a result, most of the life behaviors in the house are expected to be performed by robots instead of humans in the future. On the other hand, partial life behaviors are already being performed mostly by computer system, and another partial life behaviors show that the role-performance of them are not being totally by robots but partially with human.

• Proceedings of the KSR Conference
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• 2007.05a
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• pp.1931-1936
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• 2007

Demand forecasting for railroad traffic is fairly important to establish future policy and plan. The future demand of railroad traffic can be predicted by analyzing the demand of air, marine and bus traffic which influence the demand of railroad traffic. In this study, forecasting the demand of railroad traffic is implemented through neural network using the demand of air, marine and bus traffic. Estimate accuracy of the demand of railroad traffic was shown about 84% through neural net model proposed.

• Proceedings of the KIEE Conference
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• 2003.07a
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• pp.584-586
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• 2003

Load Forecasting is essential in the electricity market to the participants to manage the market efficiently and stably. Therefore, we review the past researches of load forecasting and investigate various characteristics of load variation. Finally, future studies are discussed.