• Journal of Korean Society of Transportation
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• v.7 no.2
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• pp.17-27
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• 1989

A nonlinear programming model for evaluating public transit fare system is proposed. The model finds transit fare level and the structure that maximizes gross fare-box revenue subject to constraints on minimum ridership and the form of the fare equations. It is assumed that the demand for transit is a function of fare and its own-fare elasticity. It is assumed that the demand for transit is a function of fare and its own-fare elasticity. It is also assumed that the conditions including fare of the other modes are unchanged ; i.e., partial equilibrium. Empirical study has been performed for the case of Seoul subway system. This study includes an analysis of fare structure ; flat system and distance-based fare system. Sensitivity and comperative static analysis for elasticity has been also demonstrated.

• Environmental and Resource Economics Review
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• v.16 no.3
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• pp.653-682
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• 2007

In this study, multi-sectoral partial equilibrium and computable general equilibrium models of Taiwan are used to investigate the direct and indirect effects of energy price increases on overall economies and agro-food sector in Taiwan. The results suggest that agricultural prices, production cost would increase between 0.27% to 1.88%, and a reduction in GDP around 0.39% to 0.54 %. The negative impact on livestock sector is slightly higher than that on the crop sector. Negative impacts are also observed in the employment and wages. The rising oil price has the potential to discourage production of energy-intensive activity because of the possibility of substitution and adaptations. The growth rate of real GDP will shrink by 0.64% to 1.06% and CPI will increase by 1.17% to 1,95%. Both the agriculture and non-agricultural sector also respond by raising output prices by 0.80% to 1.33%. The rising international oil price has urged the government to take policy actions like using alternative fuels such as biodiesel, bioethanol, and adopting measures to cut down on energy consumptions mainly in transportation sectors in response to public concern over economic shocks.

• Korean System Dynamics Review
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• v.12 no.1
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• pp.75-87
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• 2011

Congestion problems can be approached from the viewpoint of system dynamics theory. The relationship between road capacity and congestion can be explained by the 'relative control' archetype among four system archetypes suggested by Wolstenholme. There is a balancing feedback loop between road capacity and road congestion. However, there is another balancing loop between road congestion and car traffic volume, which keeps disrupting the equilibrium of the former loop. A system dynamics model, which is based on a partial adjustment model of induced traffic in the literature, is built to simulate three road building scenarios: 'Expanding investment', 'Balancing investment' and 'Frozen road investment' scenarios. The 'Expanding investment' scenario manages to drop congestion levels by 9% over 30 years, however, causing much higher emissions of $CO_2$ than other scenarios. The trade-off relationship between congestion levels and environmental costs must be taken into consideration for road investment policies.

• Clean Technology
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• v.8 no.2
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• pp.93-99
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• 2002

Adsorption dynamics for toluene and trichloroethylene with an isothermal fixed bed of activated carbon fiber were investigated. Equilibrium isotherms were measured by a static method for toluene and trichloroethylene onto activated carbon fiber at temperatures of 298, 323, and 348 K and pressure up to 3 kPa for toluene and 6 kPa for trichloroethylene, respectively. These results were correlated by the Toth equation. And dynamic experiments in an isothermal condition of 298 K were examined. Breakthrough curves reflected the effects of the experimental variables such as partial pressures for adsorbate and interstitial bulk velocities of gas flow. To present the column dynamics, a dynamic model based on the linear driving force (LDF) mass transfer model was applied.

• Journal of Korea Trade
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• v.23 no.3
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• pp.84-104
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• 2019

Purpose - This paper explains why free trade agreements (FTAs) are more popular than customs unions (CUs) in respect of tariff coordination. Design/methodology - This paper employs an equilibrium theory of trade agreements with tariff coordination. I set up three-country partial equilibrium model with competing exporters. Domestic and exporting firms decide their optimal production under given tariffs and each country levies its tariff under the trade agreements. I found stability of implicit tariff coordination and preference of each country between an FTA and a CU. Findings - I demonstrate that two FTA members can keep their external tariffs higher than separately decided external tariffs by keeping the status-quo. This implicit tariff coordination can benefit each member through trade diversion. In a CU, each member country must have a common optimal external tariff and it must incur costs because each country may seek different external tariffs for their own national welfare. The benefit of implicit coordination in an FTA and the cost of explicit coordination in a CU account for the popularity of the FTA. Originality/value - This paper uses the idea of implicit tariff coordination in trade agreements. In a CU, tariff coordination is explicit and mandatory. All member countries must have a single common external tariff for each good. On the other hand, in an FTA, each country establishes its external tariff with the goal of maximizing its own welfare. However, each country can also coordinate "implicitly" by keeping the status-quo after establishing an FTA.

• 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.

• The Journal of Industrial Distribution & Business
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• v.9 no.10
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• pp.73-82
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• 2018

Purpose - Unstable vegetable prices have been one of the major concerns in Korean agricultural and food marketing system. The Korean government has implemented a number of policy instruments, including government purchasing programs in order to alleviate fluctuations in vegetable prices. The economic impact of policy instruments has been assessed based on the average monthly price change rate before and after the implementation of the policy. However, this approach failed to provide a net impact of policy measures on price stabilization in the vegetable markets, as policy impacts could not be successfully distinguished from other effects on price changes in the vegetable market. The purpose of this study is to evaluate the net impact of the government purchasing program on the price volatility of dried red pepper which is considered one of the major vegetables in Korea. Research design, data, and methodology - This study develops a monthly dynamic partial equilibrium model of Korean dried red pepper market. Behavioral equations in the model were estimated by OLS and synthetic method based on the annual and monthly time series data from 1993 to 2015. The model is first simulated to yield actual dried red pepper market conditions in 2015 as a baseline and then compared it to the scenario assuming that there were no government purchases of dried red pepper in 2015. Results - According to the ex-post scenario analysis using the developed model, without the government procurements in 2015, the average monthly price change rate and the value of coefficient of variation of dried red pepper in 2015 would be respectably 7.9 percent and 0.10. It is relatively higher than the actual average monthly price change rate and the value of coefficient of variation of dried red pepper in 2015 which were respectively 1.7 percent and 0.06. Conclusions - The ex-post simulation results in this study shows that if there were no government purchases of dried red pepper in 2015, the dried red pepper market would have had much higher volatile price movements. The results of this study would provide useful information for future price stabilization policy of vegetable markets in Korea.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.24 no.10
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• pp.1368-1379
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• 2000

A numerical study on swirling pulverized coal combustion in an axisymmetric enclosure is carried out by applying the 2-phase weighted sum of gray gases model (WSGGM) approach with the discrete ordinate method (DOM) to model the radiative heat transfer equation. In the radiative transfer equation, the same polynomial equation and coefficients for weighting factors as those for gas are adopted for the coal/char particles as a function of partial pressure and particle temperature. The Eulerian balance equations for mass, momentum, energy, and species mass fractions are adopted with the standard and RNG k-${\varepsilon}$ turbulence model, whereas the Lagrangian approach is used for the particulate phase. The eddy-dissipation model is employed for the reaction rate for gaseous mixture, and the single-step and two-step first-order reaction model for the devolatilization process for coal. Special attention is given to establish the thermal boundary conditions on radiative transfer equation By comparing the numerical results with experimental ones, the radiation model used here is confirmed and found to provide an alternative for simulating the radiative transfer.

• Steel and Composite Structures
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• v.45 no.5
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• pp.729-747
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• 2022

The critical buckling loads and buckling modes of bi-directional functionally graded porous unified higher order shear plate with elastic foundation are investigated. A mathematical model based on neutral axis rather than midplane is developed in comprehensive way for the first time in this article. The material constituents form ceramic and metal are graded through thickness and axial direction by the power function distribution. The voids and cavities inside the material are proposed by three different porosity models through the thickness of plate. The constitutive parameters and force resultants are evaluated relative to the neutral axis. Unified higher order shear plate theories are used to satisfy the zero-shear strain/stress at the top and bottom surfaces. The governing equilibrium equations of bi-directional functionally graded porous unified plate (BDFGPUP) are derived by Hamilton's principle. The equilibrium equations in the form of coupled variable coefficients partial differential equations is solved by using numerical differential integral quadrature method (DIQM). The validation of the present model is presented and compared with previous works for bucking. Deviation in buckling loads for both mid-plane and neutral plane are developed and discussed. The numerical results prove that the shear functions, distribution indices, boundary conditions, elastic foundation and porosity type have significant influence on buckling stability of BDFGPUP. The current mathematical model may be used in design and analysis of BDFGPU used in nuclear, mechanical, aerospace, and naval application.

• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.33-78
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• 2008

This paper empirically examines whether firms engage in a dynamic adjustment process toward target capital structure and, whether there is a target capital structure or mean reverting using the partial adjustment model while allowing for costly adjustment. Also we investigate the empirical determinants of optimal target capital structure in long term equilibrium. As a result, our empirical model captures at least several important features of capital structure behavior for Korean listed firms. First, Korean firms pursue target capital structure and also there is mean reverting phenomenon. Second, Non-Chaebol and small firm in adjustment speed is faster than Chaebol and large firm. Third, even capital market restricts the adjustment speed interestingly. Fourth, Korean firms have target behavior according to a degree of observed gap. Fifth, Korean firms close about one-fourth of the gap between their actual and target debt ratios within one year and thence targeting behavior explains far more of the observed changes in capital structure than market timing or pecking order considerations. Sixth, capital market is significant in determining optimal capital structure.