• 제목/요약/키워드: Exchange value

검색결과 1,027건 처리시간 0.027초

달러라이제이션이 확산된 북한경제에서 보유외화 감소가 물가·환율에 미치는 영향 (Effects of Dollarization on Inflation and Exchange Rates in North Korea)

  • 문성민;김병기
    • 경제분석
    • /
    • 제26권2호
    • /
    • pp.1-42
    • /
    • 2020
  • 본 연구에서는 최근 북한경제가 국제사회의 제재로 인해 보유외화가 감소하고 있음에도 불구하고 물가와 환율이 어떻게 안정된 모습을 유지하고 있는지 화폐수량설의 관점에서 분석하였다. 모형을 설정하기에 앞서 2009년 화폐개혁 이후 북한 내 달러라이제이션 확산 현상과 원화·외화의 관리 및 유통 체계 등 주요 금융경제 현황을 살펴보았다. 다음으로 북한의 달러라이제이션이 확산된 북한경제의 특성을 반영하기 위해 보유외화를 가치저장용과 거래용으로 구분하고, 거래용 외화만이 통화량에 포함되는 화폐수량설에 기반한 모형을 상정하였다. 북한의 원화와 외화관리 및 유통 실태에 근거한 가정도 몇 가지 추가하였다. 분석결과, 보유외화가 축소되기 시작하는 '초기단계'에서는 주로 가치저장용 외화가 줄어들기 때문에 물가와 환율이 안정세를 유지할 수 있는 것으로 나타났다. 보유외화 감소가 지속되면서 가치저장용 외화가 소진되고 거래용 외화가 줄어들기 시작하는 '중간단계'에서는 소폭이기는 하지만 환율이 상승하고 물가는 하락하는 상황이 나타난다. 거래용 외화가 더 많이 줄어드는 '최종단계'에서는 물가와 환율이 함께 상승하기 시작하고 상황에 따라서는 물가 및 환율이 급등하게 될 수 있다. 이러한 분석결과에 비추어보면, 향후 대북제재가 지속되면서 거래용 외화량이 줄어들기 시작하면 북한의 환율과 물가가 안정세를 유지하기 어려워질 것으로 예상된다.

Cucurbita pepo에서 분리한 Light Membrane Vesicle의 ATPase와 Phosphatase의 정제 및 특성 (Purification and Characterization of ATPase and Phosphatase of Light Membrane Vesicles Isolated from Cucurbita pepo)

  • 오승은
    • Journal of Plant Biology
    • /
    • 제33권4호
    • /
    • pp.325-332
    • /
    • 1990
  • Light membrane vesicles were isolated from the zucchini hypocotyl by floatation on ficoll density gradients and the proteins were solubilized with Triton X100. Three ATP-hydrolyzing enzymes were partially purified by ion-exchange and gel filtration chromatography and isoelectric focusing. There are plasma membrane-type ATPase whose activity was inhibited by vanadate but not by nitrate, tonoplast-type ATPase which was sensitive to nitrate but insensitive to vanadate and one having a phosphatase activity with a pI value different from that of an acid phosphatase. A fraction was obtained after DEAE-ion-exchange chromatography crossreacting with polyclonal antibodies against Ca2+ -ATPase from human erythrocytes.

  • PDF

기본적 분석방법을 통한 주식 투자 전략에 관한 시뮬레이션 연구 (A Simulation Study of the Investment Strategy in Stocks on Fundamental Analysis)

  • 구승환;장성용
    • 경영과학
    • /
    • 제29권2호
    • /
    • pp.53-64
    • /
    • 2012
  • This paper is about the investment strategy in stocks on Fundamental analysis. Financial data of stocks from January 2. 2001 through October 30. 2009 were utilized in order to suggest the investment strategies. Fundamental analysis was used in stocks-related strategy. The portfolios are composed of 3 criteria such as the buying criteria score, exchange cycle and selling conditions. The buying criteria score is determined assigned to each stock index according to the satisfaction condition of 15 parameters selected considering the grue's criteria. The stock buying alternatives has two options with buying stocks over 13 points and over 14 points of buying criteria score. The seven exchange cycles and three selling methods are considered. So total number of portfolios is 42($2{\times}7{\times}3=42$). The simulation has been executed about each 42 portfolios and we figured out with the simulation result that 83.33% of 35 portfolios are more profitable than average stock market profit(203.43%). The outcome of this research is summarized in two parts. First, it's the exchange strategy of portfolio. The result shows that value-oriented investment (long-term investment) strategy yields much higher than short-term investment strategies of stocks. Second, it's about the exchange cycle forming the portfolios. The result shows that the rate of return for the portfolio is the best when exchange cycle is 18 months.

大邱市의 工業用水와 鐵의 軟化障害에 關하여 (Industrial Waters of Taegu City and on the Objection of Iron for Water Softening)

  • 이대수;홍순영
    • 대한화학회지
    • /
    • 제6권2호
    • /
    • pp.117-121
    • /
    • 1962
  • The waters throughout Taegu area for 87 points were analysed and according to the analytical data, following unfavorable characteristics for industrial uses were given: (1)Shows strong hardness, (2)Has high ratio of ignition residue to evaporation residue, (3) pH value is over 7, (4) Contains considerable quntities of iron.And then investigated the exchange rate and regeneration level of iron ion using cation exchange resin, Lewatit KS.When the hard water containing 2.2 ppm of iron with 18.4 ppm of calcium and 6.2 ppm of magnesium was passed through the ion exchange resin under $3cc/cm^2/min$ in exhaustant flow rate, exchange rate of iron reached to 42% after 300 hours flow. The exchange efficiency shows abrupt decreasing in initial stage of flow up to 100 hours flow. The exchanger which contains iron was regenerated with 10% sodium hydroxide aqua solution under SV (space velocity) 4. By this method, 57% of iron was eliminated from exchanger while calcium and magnesium are removed as much as 85% and 87% respectively.

  • PDF

Impact of Exchange Rate Shocks, Inward FDI and Import on Export Performance: A Cointegration Analysis

  • NGUYEN, Van Chien;DO, Thi Tuyet
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제7권4호
    • /
    • pp.163-171
    • /
    • 2020
  • The study aims to examine the effects of inward every presence of foreign investment, import, and real exchange rate shocks on export performance in Vietnam. This study employs a time-series sample dataset in the period of 2009 - 2018. All data are collected from the General Statistics Office of Ministry of Planning and Investment in Vietnam, World Development Indicator and Ministry of Finance, State Bank of Vietnam. This study employs the Augmented Dickey-Fuller test and the vector error correction model with the analysis of cointegration. The results demonstrate that a higher value of import significantly accelerates export performance in the short run, but insignificantly generates in the long run. When the volume of registered foreign investment goes up, the export performance will predominantly decrease in the both short run and long run. Historically, countries worldwide are more likely to devaluate their currencies in order to support export performance. According to the study, the exchange rate volatility has an effect on the external trade in the long run but no effect in the short run. Finally, Vietnam's export performance converges on its long-run equilibrium by roughly 6.3% with the speed adjustment via a combination of import, every presence of foreign investment, and real exchange rate fluctuations.

Single Ion Exchange Process에 의한 LCD용 기판유리의 강화 (Strengthening of Substrate Glass for LCD by Single ton Exchange Process)

  • 이회관;오영석;이용수;강원호
    • 한국세라믹학회지
    • /
    • 제39권7호
    • /
    • pp.675-679
    • /
    • 2002
  • 강화유리를 제조하기 위해서, 디스플레이 기판으로 사용되는 soda-lime-silicate 유리를 대상으로 단일이온교환 특성에 대하여 3점곡강도와 잔류응력을 조사하였다. 단일이온교환을 47$0^{\circ}C$에서 1시간 처리 후, 45$0^{\circ}C$에서 24시간 행하였을 때, 62.5$\times$10$_{6}$ kg/$m^2$의 최대 강도 값을 나타내었다. 또한, 곡강도 측정 후 얻어진 시편의 파단면에 존재하는 잔류응력층을 파괴분석을 통하여 관찰한 결과, 이 잔류응력층이 외부하중에 대한 탄성 변형에너지를 흡수하여 유연성을 증가시킴을 알 수 있었다 또한, 탄성변형에너지 흡수는 만곡변화, 균열가지수 및 취성특성 분석에서도 관찰되었다.

Forecasting Exchange Rates: An Empirical Application to Pakistani Rupee

  • ASADULLAH, Muhammad;BASHIR, Adnan;ALEEMI, Abdur Rahman
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제8권4호
    • /
    • pp.339-347
    • /
    • 2021
  • This study aims to forecast the exchange rate by a combination of different models as proposed by Poon and Granger (2003). For this purpose, we include three univariate time series models, i.e., ARIMA, Naïve, Exponential smoothing, and one multivariate model, i.e., NARDL. This is the first of its kind endeavor to combine univariate models along with NARDL to the best of our knowledge. Utilizing monthly data from January 2011 to December 2020, we predict the Pakistani Rupee against the US dollar by a combination of different forecasting techniques. The observations from M1 2020 to M12 2020 are held back for in-sample forecasting. The models are then assessed through equal weightage and var-cor methods. Our results suggest that NARDL outperforms all individual time series models in terms of forecasting the exchange rate. Similarly, the combination of NARDL and Naïve model again outperformed all of the individual as well as combined models with the lowest MAPE value of 0.612 suggesting that the Pakistani Rupee exchange rate against the US Dollar is dependent upon the macro-economic fundamentals and recent observations of the time series. Further evidence shows that the combination of models plays a vital role in forecasting, as stated by Poon and Granger (2003).

원/달러환율과 원/엔 환율 관계에 관한 시계열 모형연구 (Time series models based on relationship between won/dollar and won/yen exchange rate)

  • 이훈자
    • Journal of the Korean Data and Information Science Society
    • /
    • 제27권6호
    • /
    • pp.1547-1555
    • /
    • 2016
  • 환율의 변동은 국가의 경제뿐만 아니라 사회, 산업, 문화 등의 전 분야에 영향을 준다. 본 연구에서는 원/엔 환율을 원/달러 환율로 설명하는 시계열모형을 연구하고자 한다. 각 환율자료들은 1999년 1월1일부터 2015년 12월 31일까지의 17년간의 일별자료를 2008년 9월13일 시작된 세계금융위기를 기점으로 두 기간으로 나누어 분석하였다. 첫 기간은 1999년 1월 1일부터 2008년 9월 12일까지의 3543개의 일별자료를 분석했고 두 번째 기간에서는 2008년 10월 1일부터 2015년 12월31일까지의 2650개의 일별자료를 분석했다. 환율의 변동성 설명을 위해 AR+IGARCH 모형으로 분석하였다. 첫 번째 기간과 두 번째 기간 모두 AR+IGARCH (1,1) 모형으로 추정된 원/엔 환율이 실제값 보다 약간씩 과소추정이 되었다.

QFD 기법을 이용한 특정 유해가스 노출제어 이온선택성 보호복 소재개발연구 (Study of Development of Selective Removal Adsorption Ion Exchange Resin Materials for Fabricated with Chemical-biological Cloth by QFD)

  • 송화선;구일섭;김인식
    • 품질경영학회지
    • /
    • 제43권3호
    • /
    • pp.359-372
    • /
    • 2015
  • Purpose: Through studying the expert's and non-experts panel responses to the questions regarding the attributes of chemical-biological protection cloth quality in terms of the levels of customer demand and technical factors has been studied. We are applied to a QFD matrix with find out the relationship between the selective removal efficiency of chemical-biological cloth and the guidelines of technical approach. Methods: We fabricated several composite of ion-exchange resins with selectively permeable performance designed to facilities water vapor transport and selective adsorption of the harmful gases. With these materials, we characterized on the selectively permeable performance to identify ion-exchange resin with chemical-biological protective cloth. Results: Results showed that ion exchange materials possessed performance with selectively efficiencies as NH3, SOx, NOx and HCl gas. The selective adsorption amount of ammonia and hydrogen gases were $90-80{\mu}g/g$ with TRILITE SCR-BH sulfonated ion exchange resin. The PP non-woven/ion exchange resin adsorbent materials possessed performance with water vapor permeability were 1,100-1,350 g/m2/day, it's was two times high value compare with activated carbon. With these materials, we characterized selectively removal efficiency to identify new ion-exchange material with chemical-biological protective capability. Conclusion: This study shows that a QFD aids in deciding with of the adsorption parameters to optimized with chemical-biological protection cloth manufacturing.

이기종 컴퓨팅을 활용한 환율 예측 뉴럴 네트워크 구현 (Implementation of Exchange Rate Forecasting Neural Network Using Heterogeneous Computing)

  • 한성현;이광엽
    • 예술인문사회 융합 멀티미디어 논문지
    • /
    • 제7권11호
    • /
    • pp.71-79
    • /
    • 2017
  • 본 논문에서는 이기종 컴퓨팅을 활용한 환율 예측 뉴럴 네트워크를 구현했다. 환율 예측에는 많은 양의 데이터가 필요하다. 그에 따라 이러한 데이터를 활용할 수 있는 뉴럴 네트워크를 사용했다. 뉴럴 네트워크는 크게 학습과 검증의 두 과정을 거친다. 학습은 CPU를 활용했다. 검증에는 Verilog HDL로 작성된 RTL을 FPGA에서 동작 시켰다. 해당 뉴럴 네트워크의 구조는 입력 뉴런 네 개, 히든 뉴런 네 개, 출력 뉴런 한 개를 가진다. 입력 뉴런에는 미국 1달러, 일본 100엔, EU 1유로, 영국 1파운드의 원화 가치를 사용했다. 입력 뉴런들을 통해 캐나다 1달러의 원화가치를 예측 했다. 환율을 예측 하는 순서는 입력, 정규화, 고정 소수점 변환, 뉴럴 네트워크 순방향, 부동 소수점 변환, 역정규화, 출력 과정을 거친다. 2016년 11월의 환율을 예측한 결과 0.9원에서 9.13원 사이의 오차 금액이 발생했다. 환율 이외의 다른 데이터를 추가해 뉴런의 개수를 늘린다면 더 정확한 환율 예측이 가능할 것으로 예상된다.