• Korean Business Review
• /
• v.20 no.2
• /
• pp.15-27
• /
• 2007

This paper analyzed the relationship between Housing Purchase Price volatility of Seoul and Housing Purchase Price volatility of local large city. Other studies investigates the effect on the observed volatility Observed volatility consists of fundamental volatility and transitory volatility. Fundamental volatility is caused by information arrival and transitory volatility is caused by noise trading. Fundamental volatility is trend component and is modelled as a random walk with drift. Transitory volatility is cyclical component and is modelled as a stationary process. In contrast to other studies, this study investigates the effect on the fundamental volatility and transitory volatility individually. Observed volatility is estimated by GJR GARCH(1,1) model. We find that GJH GARCH model is superior to GARCH model and good news is more remarkable effect on volatility than bad news. This study decomposes the observed volatility into fundamental volatility and transitory volatility using Kalman filtering method. The findings in this paper is as follows. The correlation between Seoul housing price volatility and Busan housing price volatility is high. But, the correlation between Seoul and Daejeon is low. And the correlation between Daejeon and Busan is low. As a distinguishing feature, the correlation between fundamental volatilities is high in the case of all pairs. But, the correlation between transitory volatilities turns out low. The reason is as follows. When economic information arrives, Seoul, Daejeon, and Busan housing markets, all together, are affected by this information.

• Land and Housing Review
• /
• v.13 no.4
• /
• pp.45-53
• /
• 2022

This paper investigates empirically the lead-lag relation between the 'apartment price index' and 'Internet search volume'. This study uses Naver Trend Index as a proxy for Internet search volume. An increase in Internet search volume on the apartment price index indicates an increase in people's attention to an apartment. Different from previous studies exploring the relation between 'the released price index of the apartment' and 'Naver Trend Index', this study investigates the relation of the Naver Trend Index with 'the fundamental price component of an apartment' and 'the transitory price component of an apartment', respectively. The results of the Granger causality test reveal that there are bidirectional Granger causalities between the 'released price' and Naver Trend Index. In addition, the 'fundamental price component of an apartment' and Naver Trend Index have a feedback relation, while 'the transitory price component of an apartment' Granger causes the Naver Trend Index uni-directionally. The impulse response function analysis indicates that the shock of apartment prices increases Naver Trend Index in the first month. Overall, The close relationship between apartment prices and Naver Trend Index suggests that increases in the movement of apartment prices are positively associated with public attention on the apartment market.

• Journal of the Semiconductor & Display Technology
• /
• v.9 no.4
• /
• pp.51-56
• /
• 2010

As the price of image acquisition component becomes low enough, the compact and easily accessible handheld devices are generally equipped with image acquisition functionality. This trend speeds up various applications in diverse areas such as image related services and software. Therefore users strongly need to identify their images effectively and efficiently so that the duplicated images are perceived as one physical entity. In order to handle this environment, we propose a number of methods that generate image identifiers utilizing fundamental image features. In this paper, we analyze the identifier generation methods in terms of various size patterns, especially for tiny size cases, since the small images does not contain abundant pixels for feature extraction. In this paper, experimental evaluation over identifier generation methods' behavior according to different sizes is demonstrated.

• 한국신재생에너지학회:학술대회논문집
• /
• 2010.06a
• /
• pp.128.2-128.2
• /
• 2010

For stationary 1kW-class fuel cell systems to be used widely, it is essential to achieve dramatic improvements in system durability as well as cost reduction. In order to address this engineering challenge, it is important to develop innovative technologies associated with BOP components. According to this background, in 2009, the Korean Government and "Korea Institute of Energy Technology Evaluation and Planning(KETEP)" launched into the strategic development project of BOP technology for practical applications and commercializations of stationary fuel cell systems, named "Technology Development on Cost Reduction of BOP Components for 1kW Stationary Fuel Cell Systems to Promote Green-Home Dissemination Project". The objectives of this project are to develop fundamental technologies to meet these requirements, and to improve the performance and functionality of BOP components with reasonable price. The project consortium consists of Korea's leading fuel cell system manufacturers, BOP component manufacturers which technologically specialized, and several research institutions. This paper is to provide a summary of the project, as well as the achievements made through the 1st period of the project(2009~2010). Several prototypes of BOPs - Cathode air blowers, burner air blowers, preferential oxidation air blowers, fuel blowers, cooling water pumps, reformer water pumps, heat recovery pumps, mass flow meters, valves and power conditioning systems - had been developed through this project in 2010. As results of this project, it is expected that a technological breakthrough of these BOP components will result in a substantial system cost reduction.