• Title/Summary/Keyword: real rate interest

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The Impact of Workers' Remittances on Household Consumption in India: Testing for Consumption Augmentation and Stability

  • Ramcharran, Harridutt
    • The Journal of Asian Finance, Economics and Business
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    • v.4 no.4
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    • pp.51-60
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    • 2017
  • India is the top recipient of workers' remittance flows; recent data indicate that the Remittances/GDP ratio has increased from 2.7% in 2000 to 3.36% in 2015. We apply a consumption behavior model, based on the "permanent income hypothesis", to estimate the consumption augmentation and the stability impact for the period of 1989-2014. The independent variables are: (i) real per capita income (exclusive of remittances) is the measure of "permanent income", (ii) remittances is the measure of "transitory income", and (iii) real interest rate as the indicator of consumers' ability for intertemporal consumption. The economic ramifications are important since current global risk factors could decrease flows in the future. The results indicate the significance of all three variables; there are: (i) evidence of significant consumption augmentation, (ii) consumption responds higher to remittances than to real income, the remittance elasticity is 0.571 and the income elasticity is 0.31, and (iii) evidence of pro-cyclical effect. The VAR model indicates some linkages and causality in the series that result in small response to the shocks. Policies to increase or stabilize remittance flows and to leverage remittances for economic development are important.

THE EFFECT OF LEED CERTIFIED BUILDING ON THE SURROUNDING NEIGHBORHOOD IN NEW YORK CITY

  • Min Jae Suh;Annie R. Pearce;Young Hoon Kwak
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.28-35
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    • 2013
  • The construction industry has introduced the Leadership in Energy and Environmental Design (LEED) rating system to promote objective evaluations of the sustainability of buildings. Three important values to consider when implementing sustainability are the associated environmental, social, and economic impacts. Recently, researchers have begun to investigate the real estate value of LEED certified buildings in terms of the rental cost, occupancy rate, cost per unit area, and resale value in order to better understand the economic benefits of the LEED rating system. However, the economic benefits also encompass economic effects such as the impact of LEED certified buildings on neighborhood real estate values surrounding the certified buildings. This research examines whether the enhanced real estate value of LEED certified buildings in New York City extends to surrounding commercial buildings, utilizing spatial analysis via a Geographic Information System (GIS) and the hedonic pricing method to derive meaningful economic relationships. The results provide practical insights into the economic effect of LEED certified buildings that will be of interest to city officials and planners, as well as the owners, developers, investors and other stakeholders of surrounding buildings.

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An Empirical Analysis about Effect Factors of Chinese Housing Price: Focusing on FDI into China (중국 주택가격에 영향을 미치는 요인에 관한 실증분석: 중국에 대한 FDI를 중심으로)

  • Choi, Baek Ryul;Guo, Hua Bing
    • International Area Studies Review
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    • v.15 no.3
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    • pp.263-283
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    • 2011
  • As China has achieved continuous high growth, innovative housing system and rapid growth of housing finance for thirty years since its reforming and opening, Chinese real estate industry has developed rapidly, investment in real estate has increased remarkably and price of real estate has increased continuously. In particular, as China joined WTO in 2001, overseas companies have expanded investment in Chinese real estate market with chances of potential profit. Recently, management of foreign capital real estate companies has expanded from housing to office buildings and luxury shops. Besides, management has expanded from real estate development to various tasks such as management, brokerage service, lease management and financial investment. In order to measure relationship between FDI in Chinese real estate and Chinese housing price, this document utilizes not only various data such as housing price, FDI to real estate, domestic loan of real estate, interest rate and exchange rate in 35 major cities across China but also previous researches to set an empirical analysis model and analyze effects of foreigners' direct investment in Chinese real estate on Chinese housing price.

The Long-Run Demand for Monetary Indicator M2 and Liquidity Indicator L - Case in Korea - (한국의 광의통화(M2)와 광의유동성(L)에 대한 화폐수요의 장기적 안정성 검정)

  • Kim, Joung-Gu
    • International Area Studies Review
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    • v.12 no.3
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    • pp.171-194
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    • 2008
  • This paper analysis the long-run demand for monetary indicator M2 and Liquidity indicator L in Korea in the period from 1980:1 to 2006:3 by cointegration and error correction models. The empirical evidence that M2, L in Korea is meaningfully cointegrated with income, interest rate, exchange rate, inflation uncertainty, real effective exchange rate, exchange rate uncertainty and LIBOR, thus showing the existence of long-run demand function under open-economy framework.

A Test on the Efficiency of Monetary Policy in Korea (한국 통화정책의 효율성 검정)

  • Cho, Seonghoon;Huh, Hyeon-seung;Woo, Hee Yeul
    • KDI Journal of Economic Policy
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    • v.29 no.2
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    • pp.117-133
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    • 2007
  • This paper evaluates the efficiency of monetary policy in Korea within the framework of interest rate feedback rules. For this, a small open macroeconomic model is constructed in a similar fashion to Ball (1999). The model is shown to capture key features of the Korean economy well. Using this estimated model, optimal instrument rules are derived for a set of different monetary policy objectives. Empirical results find that the actual monetary policy in the class of instrument rules was not very effective in stabilizing the output gap relative to inflation. However, seemingly successful inflation stabilization observed in the data are not consistent with the policy rules as the reaction of the interest rate to inflation is very low. It also appears that the central bank did not react right to movements in the real exchange rate. This paper offers some suggestions for the conduct of monetary policy in Korea.

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Frame/Slot Allocation Method for Real-time Traffic in IEEE 802.15.4 Wireless Sensor Networks (IEEE 802.15.4 무선센서네트워크의 실시간 트래픽 처리를 위한 프레임/슬롯 할당방법)

  • Kim, Hyung-Seok
    • Journal of the Institute of Electronics Engineers of Korea CI
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    • v.44 no.3
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    • pp.49-56
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    • 2007
  • The IEEE 802.15.4 low rate wireless personal area network is a protocol suitable for wireless sensor networks. Thus there has been growing interest in the IEEE 802.15.4 protocol in the home automation networks. This paper proposes a scheduling scheme obtaining optimal parameters regarding the IEEE 802.15.4 frame and subframes in the home automation networks. Guaranteed time slots (GTS) are exploited for the delivery of real-time traffic. Given a set of the requirements for bandwidths and periods assigned to nodes in the network, the beacon interval and the active/inactive subframe duration satisfying the requirements are selected considering the low duty cycle by the proposed scheme. Based on these parameters, analytic results provide the way to efficient use of network resources including energy.

Real-Time Vehicle License Plate Detection Based on Background Subtraction and Cascade of Boosted Classifiers

  • Sarker, Md. Mostafa Kamal;Song, Moon Kyou
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.39C no.10
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    • pp.909-919
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    • 2014
  • License plate (LP) detection is the most imperative part of an automatic LP recognition (LPR) system. Typical LPR contains two steps, namely LP detection (LPD) and character recognition. In this paper, we propose an efficient Vehicle-to-LP detection framework which combines with an adaptive GMM (Gaussian Mixture Model) and a cascade of boosted classifiers to make a faster vehicle LP detector. To develop a background model by using a GMM is possible in the circumstance of a fixed camera and extracts the motions using background subtraction. Firstly, an adaptive GMM is used to find the region of interest (ROI) on which motion detectors are running to detect the vehicle area as blobs ROIs. Secondly, a cascade of boosted classifiers is executed on the blobs ROIs to detect a LP. The experimental results on our test video with the resolution of $720{\times}576$ show that the LPD rate of the proposed system is 99.14% and the average computational time is approximately 42ms.

Examination of Students' Perceptions of the Selection of Science Subjects in High School Credit System and Their Reasons for Selection

  • Dong-Seon Shin;Jong Keun Park
    • International Journal of Advanced Culture Technology
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    • v.11 no.4
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    • pp.263-272
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    • 2023
  • We investigated and analyzed students' perceptions of their choice of science subjects in the high school credit system and the reasons for their choice. To achieve this, the selection of science subjects was investigated for the second year of S high school over the past three years. Students selected an average of 1.54 science subjects, and it was found that the rate of selection of science subjects was gradually increasing by year. Students chose high in the order of life science I, earth science I, chemistry I, physics I, etc. in the science subject group. Students who wish to enter the natural and engineering fields chose life science I, chemistry I, physics I, etc., while, students who wish to enter the humanities society chose society and culture, life science I, ethics and thought, etc. On the other hand, the reason for choosing science subjects was 'related to college admission', followed by 'aptitude and interest', 'career and real life help', etc. physics I, chemistry I, etc., were high in the subjects selected according to the 'related to college admission'. The subjects selected according to 'aptitude and interest' were high in life science I, earth science I, etc. Physics I, chemistry I, etc. are recognized as subjects necessary for college entrance, and life science I, earth science I, etc., are found to be related to their interests and aptitudes.

Heart Rate Monitoring Using Motion Artifact Modeling with MISO Filters (MISO 필터 기반의 동잡음 모델링을 이용한 심박수 모니터링)

  • Kim, Sunho;Lee, Jungsub;Kang, Hyunil;Ohn, Baeksan;Baek, Gyehyun;Jung, Minkyu;Im, Sungbin
    • Journal of the Institute of Electronics and Information Engineers
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    • v.52 no.8
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    • pp.18-26
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    • 2015
  • Measuring the heart rate during exercise is important to properly control the amount of exercise. With the recent advent of smart device usage, there is a dramatic increase in interest in devices for the real-time measurement of the heart rate during exercise. During intensive exercise, accurate heart rate estimation from wrist-type photoplethysmography (PPG) signals is a very difficult problem due to motion artifact (MA). In this study, we propose an efficient algorithm for an accurate estimation of the heart rate from wrist-type PPG signals. For the twelve data sets, the proposed algorithm achieves the average absolute error of 1.38 beat per minute (BPM) and the Pearson correlation between the estimates and the ground-truth of heart rate was 0.9922. The proposed algorithm presents the strengths in an accurate estimation together with a fast computation speed, which is attractive in application to wearable devices.

Evaluation of JC and Cytomegalo Viruses in Glioblastoma Tissue

  • Afshar, Reza Malekpour;Mollaei, Hamid Reza;Zandi, Bahare;Iranpour, Maryam
    • Asian Pacific Journal of Cancer Prevention
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    • v.17 no.11
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    • pp.4907-4911
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    • 2016
  • Glioblastoma multiforme (GBM) is the most aggressive of the gliomas, a collection of tumors arising from glia in the central nervous system. Possible associations between the human cytomegalovirus (HCMV) and the JC virus with GBM are now attracting interest. Our present aim was to investigate the prevalence of the two viruses in Iranian patients from Kerman's cities in the south of Iran. In addition, the expression rates of pp65, large T antigen and p53 proteins were assessed and their relation with GBM evaluated using reverse transcription real time PCR (rReal Time PCR). A total of 199 patients with GBM cancer were enrolled, with $mean{\pm}SD$ ages of $50.0{\pm}19.5$ and $50.7{\pm}19.6$ years for males and females, respectively. The P53 rate was dramatically low suggesting an aetiological role,. Large T antigen expression was found in JC positive samples, while the PP65 antigen was observed in patients positive for CMV and JC. HCMV products and JC virus with oncogenic potential may induce the development of various tumors including glioblastomas. The JC virus produces an early gene product, T-antigen, which has the ability to associate with and functionally inactivate well-studied tumor suppressor proteins including p53 and pRB.