• Korea Trade Review
• /
• v.44 no.2
• /
• pp.127-141
• /
• 2019

In this study, the relationship between Baltic Dry Index(BDI) and maritime trade volume in the dry cargo market was verified using the vector autoregressive (VAR) model. Data was analyzed from 1992 to 2018 for iron ore, steam coal, coking coal, grain, and minor bulks of maritime trade volume and BDI. Granger causality analysis showed that the BDI affects the trade volume of coking coal and minor bulks but the trade volume of iron ore, steam coal and grain do not correlate with the BDI freight index. Impulse response analysis showed that the shock of BDI had the greatest impact on coking coal at the two years lag and the impact was negligible at the ten years lag. In addition, the shock of BDI on minor cargoes was strongest at the three years lag, and were negligible at the ten years lag. This study examined the relationship between maritime trade volume and BDI in the dry bulk shipping market in which uncertainty is high. As a result of this study, there is an economic aspect of sustainability that has helped the risk management of shipping companies. In addition, it is significant from an academic point of view that the long-term relationship between the two time series was analyzed through the causality test between variables. However, it is necessary to develop a forecasting model that will help decision makers in maritime markets using more sophisticated methods such as the Bayesian VAR model.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.1
• /
• pp.177-187
• /
• 2022

Theoretical literature agrees on the interaction between financial instability and economic activity but explains it's dynamic in two points of view: one is that the transmission mechanism occurs in one unique regime and the other reckons a shift of regime leads to the alteration of the transmission mechanism. This study aims to find evidence of the multi-regime transmission for ASEAN developing countries. The author employs the technique of Threshold vector auto regression using the financial stress index standing for financial instability. Monthly data is collected, covering a period long enough with many episodes of high stress in recent decades. There are two conclusions: (1) A financial shock has a negative and stronger impact on economic activity during a high-stress period than it does during a low-stress period; (2) the response of economic activity to a negative financial shock during high-stress periods is stronger than it is during normal times. The findings point to the importance of the financial stress index as an additional early warning indicator for the real economy sector, as well as the positive effect that a reduction in financial stress may have on economic activity, implying the importance of "unconventional" monetary policy in times of high financial stress.

• Elastomers and Composites
• /
• v.41 no.1
• /
• pp.40-48
• /
• 2006

Mechanical systems with rubber parts have been used widely in industry fields. The evaluation of the physical characteristics of rubber is important in rubber application. Rubber material is useful to machine component for excellent shock absorbing characteristics. The impact characteristics of rubber were examined by experimental and finite element method. The impact test was conducted with a free-drop type impact tester. The ABAQUS/Explicit was used for finite element analysis. In the finite element analysis, elastic modulus of rubber using impact force was used as dynamic modulus, which are measured and predicted with dynamic property test and WLF model. The analysis result was coincided with the experimental results.

• Transactions of the Korean Society of Mechanical Engineers A
• /
• v.34 no.7
• /
• pp.943-946
• /
• 2010

In this study, a front suspension system, which is mounted on the handle itself, was suggested because of its light weight and cost efficiency. The shock absorption was evaluated for the three types of suspension models; non-suspension, suspension on front forks (existing model), and suspension on handle (suggested model). The human body model was used for performing impact simulation for comparing the shock absorption for the suspension models. The result of the simulation shows that shock absorption for the proposed suspension model was not as good as that for the front fork suspension model. Nevertheless, the shock absorption observed for the proposed suspension model was significant when compared to the non-suspension model. Consequently, the proposed suspension model could be applied to lightweight bicycles.

• Transactions of the Korean Society of Mechanical Engineers B
• /
• v.38 no.6
• /
• pp.525-538
• /
• 2014

Safety of reactive systems is one of the most important research areas in the field of weapon development. A NoGo response or at least a low-order explosion should be ensured to prevent unexpected accidents when the reactive system is impacted by high-velocity projectile. We investigated the shock-induced detonation of cased reactive systems subject to a normal projectile impact to the cylindrical surface based on two-dimensional hydrodynamic simulations using the I&G chemical rate law. Two types of energetic materials, namely LX-17 and AP-based solid propellant, were considered to compare the dynamic responses of the reactive system when subjected to the threshold impact velocity. It was found that shock-to-detonation transition phenomena occurred in the cased LX-17, whereas no full reaction occurred in the propellant.

• Journal of the Microelectronics and Packaging Society
• /
• v.18 no.2
• /
• pp.49-55
• /
• 2011

The failure of electronic instruments is mostly caused by heat and shock. This shock causes the crack initiation at the solder joint interface of PCB component which is closely related with the formation of intermetallic compound(IMC). The Ag content in Pb-free Sn-xAg-0.5Cu solder alloy used in this study was 1.0, 1.2 and 3.0 wt.%, respectively. After soldering with PCB component, isothermal aging was performed to 1000 hrs. The growth of IMC layer was observed during isothermal aging. The drop impact property of solder joint was evaluated by impact bending test method. The solder joint made with the solder containing lower Ag content showed better impact bending property compared with that with higher Ag content. On the contrary to this result, the solder joint made with solder containing higher Ag content showed better impact bending property after aging. It should be caused by the formation of fine $Ag_3Sn$, which relieved the impact. It showed consequently the different effect of fine $Ag_3Sn$ and coarse $Cu_6Sn_5$ particles formed in the IMC layer on the impact bending property.

• Tunnel and Underground Space
• /
• v.31 no.1
• /
• pp.52-65
• /
• 2021

In this study, authors analyzed the vapor cloud explosion induced by propane leak at the PEMIX Terminal, which is the propane storage facility outside of Mexico City. TNT equivalence mass for the leaked 4750 kg propane was estimated to be 9398 kg. Blast parameters such as peak overpressure, positive phase duration, and impact at 40-400 (m) away from the center of the explosion were calculated by applying TNT Equivalency Method and Multi-Energy Method. The probability of damage due to lung damage, eardrum rupture, head impact, and whole-body displacement impact by applying the probit function obtained using blast parameters was evaluated. The peak overpressure obtained using Multi-Energy Method was found to be greater than the peak overpressure obtained by applying the TNT Equivalency Method at all distances considered, but it was evaluated that there was no significant difference from the points above 200 m. The peak overpressure obtained by Multi-Energy Method was computed to assess the extent of damage to the structure, and it was shown that structures within 100 m of the explosion center would collapse completely, and that the glasses of the structures 400 m away would be almost broken. The probability of death due to lung damage was shown to vary depending on a human body's position located in the propagating direction of shock wave, and if there is a reflecting surface in the immediate surroundings of a human body, the probability of death was estimated to be the greatest. The impact of shock wave on lung damage, eardrum rupture, head impact, and whole-body displacement impact was evaluated and found to affect whole-body impact < lung damage < eardrum rupture

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.3
• /
• pp.103-113
• /
• 2019

The effectiveness of monetary policy critically depends upon how well the transmission mechanism functions, so that the desired impact on output and inflation is achieved. The purpose of this paper is to study the transmission mechanism of monetary policy by analyzing the impact on inflation and output during multiple indicator regime (1998-99 to 2014) in an emerging economy-India. The Inflation Targeting Regime is also briefly outlined alongwith the impact on output and inflation. Using quarterly data for the period 1997 to 2017, the paper uses weighted average call money market rate as a proxy for the policy rate and evaluates the strength of the interest rate channel. We use a conventional Structural vector auto regression (SVAR) methodology to evaluate the efficacy and show the impluse response functions. Our results find that changes in the policy rate impact output growth steeply with a lag of about two quarters and the impact on inflation is maximized after three quarters. The study concludes that the monetary policy in India has a significant impact on output and inflation in the short-to-medium-run. After the policy shock, the fall in the output growth rate is of greater magnitude than the fall in inflation.

• Journal of the Korean Society of Industry Convergence
• /
• v.23 no.5
• /
• pp.757-763
• /
• 2020

City gas buried pipes are managed by corrosion protection to prevent corrosion. In the case of the press-in section, the double pipe and the main pipe may cause corrosion under the influence of stray current, which can shorten the life of the pipes. In addition, if the insulator is filled in the press-in section, the press-in section itself is a single structure, and can be directly affected by external impact, and when the surrounding ground subsidence occurs, the stress may be concentrated, resulting in serious consequences. In this study, a serration-type shock absorber in the form of a sliding support was proposed as a new buried double piping construction method using EPS. The serration-type shock absorber can contribute to the improvement of the integrity of the buried double piping, as it can utilize the gas piping's own ductility and stress distribution characteristics with proper anti-corrosion management and shock-absorbing material properties by preventing contact inside the buried double pipe. However, for application to ground piping, there remains a task to supplement the vulnerability against fire due to the characteristics of EPS materials.

• Journal of Agricultural Extension & Community Development
• /
• v.10 no.1
• /
• pp.57-76
• /
• 2003

This study examined th socioeconomic returns to agricultural research in Korea, using multivariate time series technique and Akino-Hyami formula. Results showed that the socioeconomic returns were quite competitive with internal rates of 49.18% and 56.04% for agricultural research and horticultural research respectively. The lagged response to the investment in research varied according to the type of production: agricultural production responded to agricultural research shock about three tears after the shock, while horticultural and livestock productions responded only after abort seven, and ten years, respectively. The magnitudes of the impacts of investment, however, showed a similar pattern for the three types of production: after responding to the shock, the impact increased until a peak was reached and then declined and got down to zero after some years. The peak was reached within five, seventeen, and twenty tears after the intial expenditures for agricultural, horticultural, and livestock productions, respectively. Moreover, the impacts disappeared about thirty tears after the initial expenditures for all three types of production. These findings were consistent with the results from previous literature on agricultural research, which indicated that the lag lengths of the response to investments on research were between seven and thirty years.