• International Area Studies Review
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• v.15 no.1
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• pp.31-58
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• 2011

The purpose of this paper is to analyze the effects of real and monetary disturbances and economic interactions between two large countries, and to examine how wage indexation affects the transmission of real and monetary disturbances and affects the fiscal and monetary policies of a large country. A two large country model is built, and is theoretically analyzed. We conducted an empirical investigation to apply theoretical findings to the Japanese and US economic interactions in response to real and monetary disturbances originating in one or the other country. Empirical evidence on Japan-USA economic interactions shows that Japan is much more affected by the US economic policy than the USA is affected by the Japanese economic policy. The economic impacts of real and monetary disturbances on the Japanese and US economies are smaller when the Japanese and US wage indexing parameters are lower.

• Korean Journal of Construction Engineering and Management
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• v.24 no.6
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• pp.36-44
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• 2023

The aim of this study is to predict the potential for bid-rigging among public construction bidders and develop preventive and responsive measures. By employing the Fraud Triangle Theory (FTT), which considers the factors of opportunity, pressure, and rationalization, we analyze and explore the bid-rigging potential among construction industry professionals. A survey is conducted among General and specialized construction firms to validate the FTT research model and predict individual bid-rigging tendencies. The results indicate that higher levels of pressure, greater opportunities, and stronger rationalization increase the likelihood of individual bid-rigging. Moreover, more opportunities and stronger rationalization also raise the potential for bid-rigging by others. Understanding these dynamics enhances our knowledge and contributes to the development of policies aimed at preventing bid-rigging.

• Journal of Korea Spatial Information System Society
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• v.5 no.1 s.9
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• pp.49-63
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• 2003

Recently, two international standard organizations, ISO and OGC, have done the work of standardization for GIS. Current standardization work for providing interoperability among GIS DB focuses on the design of open interfaces. But, this work has not considered procedures and methods for designing GIS DB. Eventually, GIS DB has its own model. When we share the data by open interface among heterogeneous GIS DB, differences between models result in the loss of information. Our aim in this paper is to revise the design guidelines for geographic information databases in order to make consistent spatial data models, logical structures, and semantic structure of populated geographical databases. In details, we propose standard guidelines which convert ISO abstract schema into relation model, object-relation model, object-centered model, and geometry-centered model. Furthermore, we provide sample models for applying these guidelines in commercial GIS S/Ws. Building GIS DB based on design guidelines proposed in the paper has the following advantages: the interoperability among databases, the standardization of schema definitions, and the catalogue of GIS databases through.

• Journal of Intelligence and Information Systems
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• v.20 no.4
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• pp.141-154
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• 2014

The adoption of International Financial Reporting Standards (IFRS) is the one of important issues in the recent accounting research because the change from local GAAP (Generally Accepted Accounting Principles) to IFRS has a substantial effect on accounting information. Over 100 countries including Australia, China, Canada and the European Union member countries adopt IFRS (International Financial Reporting Standards) for financial reporting purposes, and several more including the United States and Japan are considering the adoption of IFRS (International Financial Reporting Standards). In Korea, 61 firms voluntarily adopted Korean International Financial Reporting Standard (K-IFRS) in 2009 and 2010 and all listed firms mandatorily adopted K-IFRS (Korea-International Financial Reporting Standards) in 2011. The adoption of IFRS is expected to increase financial statement comparability, improve corporate transparency, increase the quality of financial reporting, and hence, provide benefits to investors This study investigates whether recognized accounts receivable discounting (AR discounting) under Korean International Financial Reporting Standard (K-IFRS) is more value relevant than disclosed AR discounting under Korean Generally Accepted Accounting Principles (K-GAAP). Because more rigorous standards are applied to the derecognition of AR discounting under K-IFRS(Korea-International Financial Reporting Standards), most AR discounting is recognized as a short term debt instead of being disclosed as a contingent liability unless all risks and rewards are transferred. In this research, I try to figure out industrial responses to the changes in accounting rules for the treatment of accounts receivable toward more strict standards in the recognition of sales which occurs with the adoption of Korea International Financial Reporting Standard. This study examines whether accounting information is more value-relevant, especially information on accounts receivable discounting (hereinafter, AR discounting) is value-relevant under K-IFRS (Korea-International Financial Reporting Standards). First, note that AR discounting involves the transfer of financial assets. Under Korean Generally Accepted Accounting Principles (K-GAAP), when firms discount AR to banks before the AR maturity, firms conventionally remove AR from the balance-sheet and report losses from AR discounting and disclose and explain the transactions in the footnotes. Under K-IFRS (Korea-International Financial Reporting Standards), however, most firms keep AR and add a short-term debt as same as discounted AR. This process increases the firms' leverage ratio and raises the concern to the firms about investors' reactions to worsening capital structures. Investors may experience the change in perceived risk of the firm. In the study sample, the average of AR discounting is 75.3 billion won (maximum 3.6 trillion won and minimum 18 million won), which is, on average 7.0% of assets (maximum 38.6% and minimum 0.002%), 26.2% of firms' accounts receivable (maximum 92.5% and minimum 0.003%) and 13.5% of total liabilities (maximum 69.5% and minimum 0.004%). After the adoption of K-IFRS (Korea-International Financial Reporting Standards), total liabilities increase by 13%p on average (maximum 103%p and minimum 0.004%p) attributable to AR discounting. The leverage ratio (total liabilities/total assets) increases by an average 2.4%p (maximum 16%p and minimum 0.001%p) and debt-to-equity ratio increases by average 14.6%p (maximum 134%p and minimum 0.006%) attributable to the recognition of AR discounting as a short-term debt. The structure of debts and equities of the companies engaging in factoring transactions are likely to be affected in the changes of accounting rule. I suggest that the changes in accounting provisions subsequent to Korea International Financial Reporting Standard adoption caused significant influence on the structure of firm's asset and liabilities. Due to this changes, the treatment of account receivable discounting have become critical. This paper proposes an intelligent diagnostic system for estimating negative impact on stock value with self-organizing maps and case based reasoning. To validate the usefulness of this proposed model, real data was analyzed. In order to get the significance of this proposed model, several models were compared to the research model. I found out that this proposed model provides satisfactory results with compared models.

• Journal of Astronomy and Space Sciences
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• v.26 no.2
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• pp.141-156
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• 2009

Through the photometric observations of the near-contact binary, XZ CMi, new BV light curves were secured and seven times of minimum light were determined. An intensive period study with all published timings, including ours, confirms that the period of XZ CMi has varied in a cyclic period variation superposed on a secular period decrease over last 70 years. Assuming the cyclic change of period to occur by a light-time effect due to a third-body, the light-time orbit with a semi-amplitude of 0.0056d, a period of 29y and an eccentricity of 0.71 was calculated. The observed secular period decrease of $-5.26{\times}10^{-11}d/P$ was interpreted as a result of simultaneous occurrence of both a period decrease of $-8.20{\times}10^{-11}d/P$ by angular momentum loss (AML) due to a magnetic braking stellar wind and a period increase of $2.94{\times}10^{-11}d/P$ by a mass transfer from the less massive secondary to the primary components in the system. In this line the decreasing rate of period due to AML is about 3 times larger than the increasing one by a mass transfer in their absolute values. The latter implies a mass transfer of $\dot{M}_s=3.21{\times}10^{-8}M_{\odot}y^{-1}$ from the less massive secondary to the primary. The BV light curves with the latest Wilson-Devinney binary code were analyzed for two separate models of 8200K and 7000K as the photospheric temperature of the primary component. Both models confirm that XZ CMi is truly a near-contact binary with a less massive secondary completely filling Roche lobe and a primary inside the inner Roche lobe and there is a third-light corresponding to about 15-17% of the total system light. However, the third-light source can not be the same as the third-body suggested from the period study. At the present, however, we can not determine which one between two models is better fitted to the observations because of a negligible difference of $\sum(O-C)^2$ between them. The diversity of mass ratios, with which previous investigators were in disagreement, still remains to be one of unsolved problems in XZ CMi system. Spectroscopic observations for a radial velocity curve and high-resolution spectra as well as a high-precision photometry are needed to resolve some of remaining problems.

• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.91-129
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• 2024

The Bank of Korea, through a legal amendment in 2011 following the financial crisis, was entrusted with the additional responsibility of financial stability beyond its existing mandate of price stability. Since then, concerns have been raised about the prolonged increase in household debt compared to income conditions, which could constrain consumption and growth and increase the possibility of a crisis in the event of negative economic shocks. The current accumulation of financial imbalances suggests a critical period for the government and central bank to be more vigilant, ensuring it does not impede the stable flow of our financial and economic systems. This study examines the applicability of the Integrated Inflation Targeting (IIT) framework proposed by the Bank for International Settlements (BIS) for macro-financial stability in promoting long-term economic stability. Using VAR models, the study reveals a clear increase in risk appetite following interest rate cuts after the financial crisis, leading to a rise in household debt. Additionally, analyzing the central bank's conduct of monetary policy from 2000 to 2021 through DSGE models indicates that the Bank of Korea has operated with a form of IIT, considering both inflation and growth in its policy decisions, with some responsiveness to the increase in household debt. However, the estimation of a high interest rate smoothing coefficient suggests a cautious approach to interest rate adjustments. Furthermore, estimating the optimal interest rate rule to minimize the central bank's loss function reveals that a policy considering inflation, growth, and being mindful of household credit conditions is superior. It suggests that the policy of actively adjusting the benchmark interest rate in response to changes in economic conditions and being attentive to household credit situations when household debt is increasing rapidly compared to income conditions has been analyzed as a desirable policy approach. Based on these findings, we conclude that the integrated inflation targeting framework proposed by the BIS could be considered as an alternative policy system that supports the stable growth of the economy in the medium to long term.

• Korean journal of applied entomology
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• v.48 no.2
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• pp.237-243
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• 2009

This study was conducted to develop economic injury level (ElL) and economic threshold (ET) of Cabbage armyworm, Mamestra brassicae L. on cabbage (Brassica oleracea L. var). The changes of cabbage biomass and M. brassicae density were investigated after introduction of larval M. brassicae (2nd instar) at different densities: 0, 1, 2, 4, 8, and 16 larvae per plant at 40 d after planting for an open field experiment, and 0, 2, 5, 8 and 12 larvae per plant at 25 d after planting for a glass house experiment. In the field experiment, the yield loss of cabbage was not significantly different among treated-plots at 30 d after the larval introduction, showing an over-compensatory response of cabbage plants to M. brassicae attack. In the glasshouse experiment, however, the biomass of cabbage at 15 d after the larval introduction significantly decreased with increasing the initial introduced number of M. brassicae, resulting in 38.3, 36.7, 21.7, 23.3 and 16.7g in above treated-plots, respectively. The relationship between cumulative insect days (CID) and yield loss (%) of cabbage was well described by a nonlinear logistic equation. Using the estimated equation, ElL of M. brassicae on cabbage was estimated at 44 CID per plant based on the yield loss 14%, which take into account of an empirical gain threshold 5% and marketable rate 91% of cabbage. Also, ET was calculated at 80% of the EIL: 35 CID per plant. Until a more elaborate EIL-model is developed, the present result may be useful for M. brassicae management at early growth stage of cabbage.

• The Korean Journal of Nuclear Medicine
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• v.30 no.4
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• pp.548-559
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• 1996

A series of performance measurements of positron emission tomography (PET) were performed following the recommendations of the Computer and Instrumentation Council of the Society of Nuclear Medicine and the National Electrical Manufacturers Association. We investigated the performance of the General Electric $Advance^{TM}$ PET. The measurements include the basic intrinsic tests of spatial resolution, scatter fraction, sensitivity, and count rate losses and randoms. They also include the tests of the accuracy of corrections: count rate linearity correction, uniformity correction, scatter correction and attenuation correction. GE $Advance^{TM}$ PET has bismuth germanate oxide crystals (4.0mm transaxial ${\times}$ 8.1mm axial ${\times}$ 30.0mm radial) in 18 rings, which form 35 imaging planes spaced by 4.25mm. The system has retractable tungsten septa 1mm thick and 12cm long. Transaxial resolution was 4.92mm FWHM in 2D and 5.14mm FWHM in 3D at the center. Average axial resolution in 2D decreased from 3.91mm FWHM at the center to 6.49mm FWHM at R=20cm. Average scatter fraction of direct and cross slices was 9.57%. Dead-time losses of 50% corresponded to a radioactivity concentration of $4.86{\mu}Ci/cc$ and a true count rate of 519 kcps in 2D. The accuracy of count rate linearity correction was 1.84% at the activity of $4.50{\mu}Ci/cc$. Non-uniformity was 2.06% in 2D and 2.93% in 3D. Remnant errors after scatter correction were 0.55% in 2D and 4.12% in 3D. The errors of attenuation correction were 6.21% (air), 0.20% (water), -6.32% (teflon) in 2D and 5.00% (air), 6.94% (water), 3.01% (teflon) in 3D. The results indicate the performance of GE $Advance^{TM}$ PET scanner to be well suited for clinical and research applications.

• Fire Science and Engineering
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• v.31 no.5
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• pp.53-62
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• 2017

Electric power which is the energy source of economy and industries requires long distance transportation due to regional difference between its production and consumption, and it is supplied through the multi-loop transmission and distribution system. Prior to its actual use, electric power flows through several transformations by voltage transformers in substations depending on the characteristics of each usage, and a transformer has the structure consisting of the main body, winding wire, insulating oil and bushings. A transformer fire that breaks out in substations entails the primary damage that interrupts the power supply to houses and commercial facilities and causes various safety accidents as well as the secondary economic losses. It is considered that causes of such fire include the leak of insulating oil resulting from the destruction of bottom part of bushings, and the chain reaction of fire due to insulating oil that reaches its ignition point within 1 second. The smoke detector and automatic fire extinguishing system are established in order to minimize fire damage, but a difficulty in securing golden time for extinguishing fire due to delay in the operation of detector and release of gas from the extinguishing system has become a problem. Accordingly, this study was carried out according to needs of active mechanism to prevent the spread of fire and block the leak of insulating oil, in accordance with the importance of securing golden time in extinguishing a fire in its early stage. A bushings fireproof structure was developed by applying the high temperature shape retention materials, which are expanded by flame, and mechanical flame cutoff devices. The bushings fireproof structure was installed on the transformer model produced by applying the actual standards of bushings and flange, and the full scale fire test was carried out. It was confirmed that the bushings fireproof structure operated at accurate position and height within 3 seconds from the flame initiation. It is considered that it could block the spread of flame effectively in the event of actual transformer fire.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.3 no.1 s.4
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• pp.53-65
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• 2004

A series of accidents, which are non-recurrent and non-anticipated, are called incidents. These incidents make standard traffic flows interrupt, which result in the decrease of road capacity and a number of social and economic costs, such as the traffic congestion and air pollution. In order to prevent the hazard of incidents, domestic and foreign traffic management center are likely to opt auto-sense system with algorithms of auto-incident sense. However, it is evaluated that the algorithms have a low function with frequent wrong alarms, even if they accurately ry to speculate the incidents. In the case of bottleneck which has lack of road capacity, compared with other roads, due to inefficient road structured over-capacity of the demand of on-off ramp, the incidents regularly take place. Nonetheless, it can be more difficult to speculate the auto-incidents sense owing to similar incidents, such as the queue of in-out flows of cars and the change of road line. Throughout this research, the function of the model has improved excluding near road line in the module of the incidents which is based on the auto-incidents algorithms during the sense of the congestion of ramp areas.