• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.25-33
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• 2018

In the globalization and free trade era, the current account deficit problem is a common phenomenon experienced by most countries, both developing and developed countries. Also with managed floating regime of exchange rate, it becomes very important to analyze the dynamics of current account balance which determine the trade. The deficit condition has lasted for four years in Indonesia, as well the deficit value above the value of the surplus that has been experienced during the period 2005-2011. This study is firstly aim to examine the condition of the deficit which happens in the export and import, manufactured goods and oil and gas, whether related to the transaction of goods and services. We try to build a predicted model which near the actual. Then, the focuses examines an exchange rate volatility impact on current account deficit. The model used in this research is a simultaneous model of Indonesia current account deficit from 2005 to 2014. The simulation result indicated that depreciation increase surplus to current account deficit. The decrease of export manufactured goods (non oil and gas) higher than the increase of import. For the oil and gas sector, depreciation of the rupiah against the US dollar results in an increased burden of higher oil and gas imports due to import transactions.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.617-626
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• 2021

The study examines the existence of twin deficit in two emerging economies (Turkey and Iran) and also investigates the relation of twin deficit with specific macroeconomic indicators such as the GDP, money supply, foreign direct investment, and the interest rate both in short and long-run periods. The twin-deficit concept refers to a situation where the current account deficit and budget deficits exist in the same corresponding period of an economy. This study employs the Bound Test Autoregressive lag distributed (ARDL) model on time-series quarterly secondary data of Turkey and Iran from 1992 to 2019. The stationarity of variables has been ensured through the Augmented Dickey-Fuller (ADF) test at the level and the first difference. The results reveal the existence of a twin deficit in both the short and long-run periods only in Iran. Its existence could not be observed in the Turkish economy. The findings suggest a positive relationship between twin deficit and GDP, and a negative relationship between twin deficit and FDI and M2. At the same time, the relationship of the twin deficit with interest rate could not be found in the Iranian economy. The findings may be helpful for economic managers of both countries in executing their economic policies.

• Bulletin of the Korean Mathematical Society
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• v.48 no.2
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• pp.325-334
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• 2011

In this paper we consider the discrete time delayed renewal risk model. We investigate what will happen when the distribution function of the discounted proper deficit is asymptotic in the initial surplus. In doing this we establish several lemmas regarding some related ruin quantities in the discrete time delayed renewal risk model, which are of significance on their own right.

• Journal of applied mathematics & informatics
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• v.23 no.1_2
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• pp.87-99
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• 2007

In this paper, we consider the Sparre Andersen risk model modified by the inclusion of interest on the surplus. By using the techniques of Cai and Dickson [Ins.: Math. Econ. 32(2003)], we give the functional and also the exponential type upper bounds for the tail probability of the deficit at ruin. Some special cases are also discussed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.251-261
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• 2020

The paper examines the role of some determinants of economics, politics and institutions on the budget deficit volatility in some countries of the Association of South East Asian Nations (ASEAN) such as Indonesia, Thailand and Vietnam. The paper uses the fixed effects model (FEM) and the random effects model (REM) to investigate panel data of these countries in the period of 1990-2018. Moreover, the study also explores ordinary least square (OLS) to analyze time-series data for each country in the same period to make comparison among them. The economic data is collected from international financial statistics and world development indicators. The data on political variables are collected from International Country Risk Data Guide (ICRG). The empirical results both confirm that corruption and political stability are important indicators of budget deficit. Besides, the paper suggests authorities should pay more attention on improving the institutional setup of the economy in order to avoid high and unstable deficit. The findings offer new insight on the budget deficit in essence and suggest that the most important thing need to be done ahead is to strongly implement anti-corruption actions. By doing so, the status of budget deficit would be remarkably improved immediately.

• The Journal of Fisheries Business Administration
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• v.45 no.3
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• pp.55-69
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• 2014

We try to test the pecking order theory of Korean fisheries firm's capital structure using debt capacity. At first, we estimate the debt capacity as the probability of assigning corporate bond rating from credit-rating agencies. We use logit regression model to estimate this probability as a proxy of debt capacity. The major results of this study are as follows. Firstly, we can confirm the fisheries firm's financing behaviour which issues new debt securities for financial deficit. Empirical test of SSM model indicates that the higher probability of assigning corporate bond rating, the higher the coefficient of financial deficit. Especially, high probability group follows this result exactly. Therefore, the pecking order theory of fisheries firm's capital structure applies well for high probability group which means high debt capacity. It also applies for medium and low probability group, but their significances are not good. Secondly, the most of fisheries firms in high probability group issue new debt securities for their financial deficit. Low probability group's fisheries firms also issue new debt securities for their financial deficit within the limit of their debt capacity, but beyond debt capacity they use equity financing for financial deficit. Therefore, the pecking order theory on debt capacity come into existence well in high probability group.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.741-750
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• 2021

The budget deficit is closely related to expansionary fiscal policy as a fiscal instrument to encourage economic growth. This study aims to apply optimal control theory in the Keynesian macroeconomic model for the economy, so that optimal growth can be found. Macroeconomic variables include GDP, consumption, investment, exports, imports, and budget deficit as control variables. This study uses secondary data in the form of time series, the time period 1990 to 2018. Performing optimal control will result in optimal fiscal policy. The optimal determination is done through simulation, for the period 2019-2023. The discrete optimal control problem is to minimize the objective function in the form of a quadratic function against the deviation of the state variable and control variable from the target value and the optimal value. Meanwhile, the constraint is Keynes' macroeconomic model. The results showed that the optimal value of macroeconomic variables has a deviation from the target values consisting of: consumption, investment, exports, imports, GDP, and budget deficit. The largest deviation from the average during the simulation occurs in GDP, followed by investment, exports, and the budget deficit. Meanwhile, the lowest average deviation is found in imports.

• Journal of Oriental Neuropsychiatry
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• v.20 no.1
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• pp.43-57
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• 2009

Objectives : This experiment was designed to investigate the effect of the Hwanso-dan hot water extract & ultra-fine powder on microglia and memory deficit model Methods : The effects of the Hwanso-dan hot water extract on expression of IL-l${\beta}$, IL-6, TNF-${\alpha}$ mRNA and production of IL-l${\beta}$, IL-6, TNF-${\alpha}$ in BV2 microglial cell line treated by lipopolysacchaide were investigated. The effects of the Hwanso-dan hot water extract & ultra-fine powder on the behavior of the memory deficit mice induced by scopolamine and uric acid & AChE in serum of the memory deficit mice induced by scopolamine were investigated. Results : 1. The Hwanso-dan hot water extract suppressed the expression of IL-l${\beta}$, IL-6, TNF-${\alpha}$ mRNA in BV2 microglial cell line treated by lipopolysacchaide. 2. The Hwanso-dan hot water extract suppressed the production of IL-l${\beta}$, IL-6, TNF-${\alpha}$ in BV2 microglial cell line. 3. The Hwanso-dan hot water extract & ultra-fine powder decreased uric acid and AChE significantly in the serum of the memory deficit mice induced by scopolamine. 4. The Hwanso-dan hot water extract & ultra-fine powder groups showed significantly inhibitory effect on the scopolamine${\sim}$induced impairment of memory in the experiment of Morris water maze. Conclusions : This experiment shows that the Hwanso-dan hot water extract & ultra-fine powder might be effective for the prevention and treatment of Memory deficit disease. Investigation into the clinical use of the Hwanso-dan hot water extract & ultra-fine powder for Alzheimer's disease is suggested for future research.

• Journal of Korean Society for Atmospheric Environment
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• v.16 no.5
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• pp.539-544
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• 2000

A simple analytic model is proposed here to analyze the concentration deficit field caused by a large area of vegetated area. With non-dimensional deposition velocity chosen as small parameter, the regular perturbation method is exploited to derive the mass balance equation and the dynamic equations for the concentration deficit field, Analytic solutions to those equations are obtained in a closed form for several cases of interest, assuming that the concentration field is stationary and the plume can be nicely approximated as Gaussian for a point source. The results suggest that quite a negligible fraction (less than 1%) of the gaseous air pollutants emitted into the air is removed by the vegetated area of which width is 4 km in wind-wise direction, the typical dimension of the Restricted Development Zones around the metropolitan regions in South Korea.

• Bulletin of the Korean Mathematical Society
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• v.40 no.4
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• pp.663-669
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• 2003

This paper investigates the tail asymptotic behavior of the severity of ruin (the deficit at ruin) in the renewal model. Under the assumption that the tail probability of the claimsize is dominatedly varying, a uniform asymptotic formula for the tail probability of the deficit at ruin is obtained.