• East Asian Economic Review
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• v.24 no.1
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• pp.61-87
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• 2020

Five diffusion models are estimated using three different foreign exchange rates to find an appropriate model for each. Daily spot exchange rates expressed as the prices of 1 euro, 1 British pound and 100 Japanese yen in US dollars, respectively denoted by USD/EUR, USD/GBP, and USD/100JPY, are used. The maximum likelihood estimation method is implemented after deriving an approximate log-transition density function (log-TDF) of the diffusion processes because the true log-TDF is unknown. Of the five models, the most general model is the best fit for the USD/GBP, and USD/100JPY exchange rates, but it is not the case for the case of USD/EUR. Although we could not find any evidence of the mean-reverting property for the USD/EUR exchange rate, the USD/GBP, and USD/100JPY exchange rates show the mean-reversion behavior. Interestingly, the volatility function of the USD/EUR exchange rate is increasing in the exchange rate while the volatility functions of the USD/GBP and USD/100Yen exchange rates have a U-shape. Our results reveal that more care has to be taken when determining a diffusion model for the exchange rate. The results also imply that we may have to use a more general diffusion model than those proposed in the literature when developing economic theories for the behavior of the exchange rate and pricing foreign currency options or derivatives.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.8 no.6
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• pp.520-527
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• 2015

The key exchange protocols are very crucial tools to provide the secure communication in the broadband satellite access network. They should be required to satisfy various requirements such as security, key confirmation, and key freshness. In this paper, we present the security functions in ETSI(European Telecommunications Standards Institute), and analyze the specification of the security primitives and the key exchange protocols for the authenticated key agreement between RCST(Return Channel Satellite Terminal) and NCC(Network Control Centre). ETSI key exchange protocols consists of Main Key Exchange, Quick Key Exchange, and Explicit Key Exchange. We analyse the pros and cons of key exchange protocols based on performance analysis and performance evaluation.

• Journal of Korea Trade
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• v.23 no.5
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• pp.87-101
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• 2019

Purpose - This paper examines the effectiveness of the foreign exchange risk insurance system in the promotion of SME exports in Korea. The purpose of this study is to analyze the short-term and long-term responses of SME exports to foreign exchange risk insurance support policies. Based on these empirical studies, we would like to present some operational improvements to the operation of the foreign exchange risk insurance system. Design/methodology - In order to analyze the effect of exchange risk insurance on the exports of SMEs, a VAR model consisting of foreign exchange risk insurance underwriting values, export relative price, and domestic demand pressure, including export volume, was established. The study began with tests of the stationarity of time series data. The unit root tests showed that all concerned variables were non-stationary. Accordingly, the results of the cointegration test showed that the tested variables are not cointegrated. Finally, an impulse response function and variance decomposition analysis were conducted to analyze the impulse of foreign exchange risk insurance on exports of SMEs. Findings - As a result of estimating the VAR (1) model, foreign exchange risk insurance was found to be significant at a 1% significance level for SME' export promotion. In the impulse response analysis, SMEs' export response to the impulse of foreign exchange risk insurance showed that exports gradually increased until the third quarter, and then slowed down. However, the impulse did not disappear, and appeared continuously. Originality/value - This study analyzed the effect of foreign exchange insurance on exports of SMEs by applying the VAR model. In particular, this study is the first to analyze the short-term and long-term effects of foreign exchange risk insurance on exports of SMEs. The empirical evidence in the current study have a policy implication for the policy authority to support and promote the foreign exchange risk insurance in the effect of exchange rate volatility on Korea' export SMEs.

• Journal of the Korean Society for Precision Engineering
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• v.17 no.7
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• pp.170-180
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• 2000

In this paper, to evaluate ease of exchange of subassembly considering module, it needs to analyze structure and function of subassembly, assembly and disassembly process. Exchange process of module can be divided into pre-process and in-process, and determination factors of exchange process are defined by analyzing characteristics of assembly and disassembly process. Based on the analysis of characteristics for structure and function of subassembly, influential factors of module can be proposed. Considered the interrelationship between determination factors of ease of exchange and influencing factors of module, ease of exchange can be evaluated.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.28 no.8C
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• pp.821-826
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• 2003

In this paper, constrained Remez exchange algorithm is proposed to reduce the critical path of an IIR filter. The proposed algorithm is based on Remez exchange algorithm and least squares method. By IIR filter design examples, it is shown that the proposed method can maximally increase speed by 20%.

• Bulletin of the Korean Mathematical Society
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• v.57 no.4
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• pp.945-956
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• 2020

We introduce the concept of S-exchange rings to unify various subclass of exchange rings, where S is a subset of the ring. Many properties on S-exchange rings are obtained. For instance, we show that a ring R is clean if and only if R is left U(R)-exchange, a ring R is nil clean if and only if R is left (N(R) - 1)-exchange, and that a ring R is J-clean if and only if R is left (J(R) - 1)-exchange. As a conclusion, we obtain a sufficient condition such that clean (nil clean property, respectively) can pass to corners and reprove that J-clean passes to corners by a different way.

• Journal of Magnetics
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• v.14 no.4
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• pp.168-171
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• 2009

We propose a new type of spin torque nano-oscillator structure with an exchange- biased free rotating layer. The proposed spin torque nano-oscillator consists of a fixed layer and a free rotating layer with an additional anti-ferromagnetic layer, which leads to an exchange bias in the free rotating layer. The spin dynamics of the exchange-biased free rotating layer can be described as an additional exchange field because the exchange bias manifests itself by the existance of a finite exchange bias field. The exchange bias field plays a similar role to that of a finite external field. Hence, microwave generation can be achieved without an external field in the proposed structure.

• International Commerce and Information Review
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• v.10 no.1
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• pp.329-347
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• 2008

The purpose of this study is to examine the causal relationship between the exchange rate and economic growth, and to induce policy implications. In order to test whether time series data is stationary and the model is fitness or not, we put in operation unit root test, cointegration test. And we apply Granger causality based on an error correction model. The results indicate that uni-dierctional causality between exchange rate and economic growth is detected. Exchange rate impacts on economic growth, but economic growth don't impact on exchange rate. The analysis of impulse reaction function shows that the impulse of exchange rate impacts on Korean economic growth in negative direction. We can infer policy suggestion as follows: The fluctuation of exchange rate much affects economic growth, thus we must make a stable policy of exchange rate to continue economic growth.

• Journal of the Korean Professional Engineers Association
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• v.23 no.1
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• pp.49-63
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• 1990

A signalling system generally designates electrical conditions and transmissionㆍreceiving programs of exchange control use signals concerning the establishmentㆍreleaseㆍtariff etc of calls between telephone subscribers and an exchange office or inter-exchange offices. In signalling system, different systems are being used according as communication service for control. With the development of exchange and transmission technique and higher functional advance, there exist many kinds of signalling systems. As for the signalling system used in international communication, an international standardization is specially important for the exchange of each country to operate properly and execute a smooth exchange connection. A term "signalling system" is chiefly used in telephone exchange system, while in telex exchange system "signalling condition, " and in data exchange system "protocol" is used. "protocol" is used.; is used.

• International Area Studies Review
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• v.20 no.3
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• pp.123-144
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• 2016

This paper investigates the linkages between returns both in foreign exchange and stock markets, and uncertainties in two markets using daily data for the period of 16 July 2004 to 30 June 2014 in Nepalese economy. Four hypotheses are tested about how uncertainty influences the stock index and exchange rates. From the empirical results, a bivariate EGARCH-M model is the best to explain the volatility in the two markets. There is a negative relationship from the exchange rates return to stock price return. Empirical results do provide strong empirical confirmation that negative effect of stock index uncertainty and positive effect of exchange rates uncertainty on average stock index. GARCH-in-mean variables in AR modeling are significant and shows that there is positive effect of exchange rates uncertainty and negative effect of stock index uncertainty on average exchange rates. Stock index shocks have longer lived effects on uncertainty in the stock market than exchange rates shock have on uncertainly in the foreign exchange market. The effect of the last period's shock, volatility is more sensitive to its own lagged values.