• KDI Journal of Economic Policy
• /
• v.24 no.1
• /
• pp.3-44
• /
• 2002

This study attempts to explain why traditionally pro-cyclical trade balance became counter-cyclical since early 1990's in Korea. Structural VAR analysis for two sub-periods reveals two interesting changes in the role of the supply shock. First, impulse response analysis shows that the conditional correlation between the supply shock and trade balance turned from positive to negative over the two sub-periods. Second, the relative importance of the supply shock increased over the sub-periods. These two factors together explain the change in the cyclical properties of trade balance over time. Underlying cause behind these changes is likely to be the trade and financial market liberalization since late 1980's.

• Proceedings of the Korean Institute of Interior Design Conference
• /
• 2002.04a
• /
• pp.39-43
• /
• 2002

IMF situation in Korean society in 1997 gave huge shock to all areas, such as politics, economy, and society which were covered by bubble economy. It has passed 4 years since IMF but it is continued to increase of consumer price index and depression of the society. Receiving an order in interior design become more and more tense competition domestically as well as internationally, due to the open of WTO. In order to achieve economic design of low cost-high design which pursues the power of competition in cost and quality, this study investigated specific methods for economic design and suggested the directions for economic design in interior design field. To suggest the directions of future interior design for economic design with the analysis of domestic and international cases for economic design. the following results are showed: According to the analysis of the cases, economic design is accomplished with the use of the materials. Interior designers should consider how they can use materials for economic design. Especially, use of cheap materials gives the reduction of the cost and the effects of differentiation of the spaces more. Therefore, experimentalism and knowledge of materials are needed and they should be more weighted as the method for achieving economic design,

• Journal of the Computational Structural Engineering Institute of Korea
• /
• v.32 no.5
• /
• pp.279-286
• /
• 2019

In this study, a numerical investigation is conducted for the shock deceleration prediction of a conical impactor in gas-gun tests. With the development of weapon systems, gas-gun tests are required to validate the survivability and structural reliability of devices under test (DUT) in high-G shock environments, such as those over ten thousand Gs or more. As shock endurance is highly influenced by various bird parameters, such as mass, velocity, and pressure, it is important to determine the appropriate test conditions to generate a high-G shock environment. However, experimental repetitive studies are inefficient to validate test conditions in terms of economic aspects. Therefore, a numerical technique is required to replace experimental gas-gun tests. Here, a numerical investigation is conducted with ANSYS AUTODYN using explicit code. Through this investigation, the dynamic behavior of DUT is presented. In addition, the results of numerical studies are verified through a comparison with the experimental results of a gas-gun test.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.11
• /
• pp.127-135
• /
• 2020

This study aims to measure the effects of real interest rate (RIR), gross domestic savings (GDS), and net exports (EN) shocks on Indonesia's economic growth (EG). The focus on Indonesia is unique due to the abundant resources available in the nation, but they are unsuccessful in boosting economic growth. This study applied a quantitative method to comprehensively analyze the correlation between variables by employing Vector Autoregression Model (VAR) combined with Vector Error Correction Model (VECM). Various procedures are preformed: Augmented Dickey-Fuller test (ADF), Optimum Lag Test, Johansen Cointegration Test, Granger Causality Test, as well as Impulse Response Function (IRF) and Error Variance Decomposition Analysis (FEVD). The data were collected from the World Bank and the Asian Development Bank from 1986 to 2017. The findings of the study indicated that economic growth responded positively to real interest rate shocks, which implies that when the real interest rate experiences a shock (increase), the economy will be inclined to growth. While, economic growth responded negatively to gross domestic savings and net export shocks. Policymakers are expected to consider several matters, particularly the economic conditions at the time of formulating policy, so that the prediction effectiveness of a policy can be appropriately assessed.

• Proceedings of the Korean Society of Near Infrared Spectroscopy Conference
• /
• 2001.06a
• /
• pp.1172-1172
• /
• 2001

Compact Near Infrared Diode Array Spectrometers offer new possibilities for on line quality assurance in the agricultural sector. Due to their speed and complete robustness towards temperature fluctuations and mechanical shock Diode Array Spectrometers are suitable for the use on Agricultural Harvest Machines. The growing consumer consciousness of food quality in combination with falling manufacturing prices demands procedures for an effective quality control system. The various conventional types of NIR instruments which have so far been used in laboratories are unsuitable for mobile applications under the rough conditions of field cropping not only because of their slow speed of measurement but also because of their shock sensitive filter wheels and monochromators necessary for fractionating polychromatic light. Another advantage of the on line use is the reduction of the sampling error because of the continuously measurement of the whole product. Considering the large economic importance of the dry matter content on agricultural products it is of particular advantage that water belongs to those constituents which are most easily assessed in the near infrared. While other constituents of economic importance such as starch, oil and protein in grains and seeds have a much lesser effect on NIR signals, their contents can nonetheless be assessed with high analytical precision on freshly harvested grains and seeds. In the last years several applications for on line quality assessment on harvesting machines were developed and tested. The talk will give an overview and outlook on existing and future possibilities of this new field of NIR applications.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.2
• /
• pp.5-17
• /
• 2017

The main objective of the study is to measure the vulnerability of Indonesia's financial system stability in response to external shocks, including from regional economies namely three biggest Indonesia major trading partners (China, the U.S and Japan) and other external factors (oil price and the federal funds rate). Using Autoregressive Distributed Lag (ARDL) model and Orthogonalized Impulse Response Function (OIRF) with quarterly data over the period Q4 2002 - Q1 2016, results confirm that, 1) oil price response has the largest effect to Indonesia financial stability system and the effect period is the longest compared to others, represented by NPL and IHSG; 2) among those three economies, only China's economic growth has significantly positive effect to Indonesia financial stability system. Based on the findings it is better for the authorities to: 1) Diversify international trade commodities by decreasing share of oil, gas, and mining export and boosting other potential sectors such as manufacture, and fisheries; 2) Ensure the survival of Indonesia large coal exporter companies without neglecting burden of national budget; and 3) Create buffer for demand shock from specific countries by diversifying and increasing share of trading from other countries particularly from ASEAN member states.

• Journal of Information Technology Applications and Management
• /
• v.21 no.1
• /
• pp.177-184
• /
• 2014

This research analyzes the effects of factors on the demands for outbound to the countries such as Japan, China, the United States of America, Thailand, Philippines, Hong Kong, Singapore and Australia, the countries preferred by many Koreans. The factors for this research are (1) economic variables such as Korea Composite Stock Price Index (KOSPI), which could have influences on outbound tourism and exchange rate and (2) unpredictable events such as diseases, financial crisis and terrors. Regression analysis was used to identify relationship based on the monthly data from January 2001 to December 2010. The results of the analysis show that both exchange rate and KOSPI have impacts on the demands for outbound travel. In the case of travels to the United States of America and Philippines, Korean tourists usually have particular purposes such as studying, visiting relatives, playing golf or honeymoon, thus they are less influenced by the exchange rate. Moreover, Korean tourists tend not to visit particular locations for some time when shock reaction happens. As the demands for outbound travels are different from country to country accompanied by economic variables and shock variables, differentiated measure to should be considered to come close to the target numbers of tourists by switching as well as creating the demands. For further study we plan to build outbound tourism forecasting models using Artificial Neural Networks.

• Environmental and Resource Economics Review
• /
• v.12 no.2
• /
• pp.327-346
• /
• 2003

Unlike previous studies on the causal relationship between energy consumption and economic growth, this paper analyses the dynamic causal relationship between these variables using the dynamic vector using Johansen's multiple cointegration procedure, dynamic vector error-correction model and impulse response function. The empirical results show that while the energy consumption to a shock in income responds positively, the income responds positively to the shocks in energy consumption in the first place and then the responses become negative. We also find that the impact of energy consumption shock on the income is short-lived and causes higher inflationary pressure.

• International Journal of Computer Science & Network Security
• /
• v.22 no.7
• /
• pp.181-190
• /
• 2022

The article contains an overview of the results of recent research by think tanks in different countries, devoted to the analysis of economic resilience factors in the Covid-19 crisis and the development of recommendations for improving preparedness for the next crises. The authors consider and propose a theoretical framework for the concept of the resilience of economic systems. The impact of the COVID-19 crisis on national economies is analyzed. Factors explaining the different cability of economic systems to withstand shock in the short and long term are identified. The reactions of market participants and national governments to the crisis are assessed. It is shown how the COVID-19 crisis has affected the digital transformation of economic systems, and how digital transformation helps to increase the resilience of national economies so that the latter can emerge from the crisis even stronger.

• KDI Journal of Economic Policy
• /
• v.37 no.1
• /
• pp.19-44
• /
• 2015

This paper examines the effect of the global financial crisis on corporate investment in Korea. Specifically, the crisis was considered to have possibly constrained firm-level investment as the negative shock to the credit supply dramatically unfolded. As Duchin et al. (2010) demonstrated, if a negative supply-side shock is evident during a crisis period, larger cash holdings before the crisis will lead to fewer constraints to corporate investment, or vice versa. In order to investigate the supply-side effect of the crisis, we use firm-level financial data, including firms listed on the Korean stock market as well as small and medium-sized enterprises. We find that corporate investment declined significantly after the crisis, even if we control for factors associated with the demand side, such as contemporaneous capital productivity and cash flow. More importantly, the decline is positively and significantly related to cash holdings before the crisis, implying the negative effect of a credit supply shock. Small and medium enterprises experienced relatively sharp investment declines compared to those of larger firms, and the relationship between pre-crisis cash amounts and the degree of investment decline is greater than that in large firms. Additionally, we examine whether the negative effect persists up to the present, finding evidence that the cash-investment relationship continues in small and medium-sized enterprises.