• Korean Journal of Fisheries and Aquatic Sciences
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• v.55 no.5
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• pp.524-532
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• 2022

We investigated the effects of taurine-enriched rotifers on larval growth and swim bladder inflation of yellowtail Seriola quinqueradiata. Rotifers were enriched with a commercial taurine supplement at two levels (0 and 800 mg/L). The larvae (initial notochord length=3.98±0.24 mm) were fed the enriched rotifers in triplicate from two days post-hatch for five days. The average taurine contents of the taurine non-enriched and enriched rotifers were 0.35±0.01 and 4.77±0.05 mg/g dry matter, respectively. The weight gain and specific growth rate of the fish fed enriched rotifers with the taurine supplement at 800 mg/L significantly improved compared with those of fish fed rotifers without taurine enrichment (P<0.05). The swim bladder inflation rate of larvae fed taurine enriched rotifers significantly (P<0.05). The results of the present study indicate that yellowtail larvae benefit from taurine concentrations compared with those typically reported to feed on non-taurine supplemented rotifers. Furthermore, taurine-enriched food for fish larval effectively improved the growth performance and swim bladder inflation of yellowtail larvae.

• East Asian Economic Review
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• v.23 no.4
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• pp.409-427
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• 2019

This paper sets up a new Keynesian model with external habit to explore the role of each shock over business cycles in Korea. The estimated model via maximum likelihood shows that the productivity shock plays a pivotal role in explaining the output variations before and after the financial crisis since mid-1970s. It also shows that the model with external habit is more successful in explaining the business cycles in Korea after the Asian financial crisis than the model without habit. The monetary policy shock which dominates by accounting for more than 70 percent of the unconditional variance of the inflation rate before the financial crisis is less important in the inflation rate fluctuations after the financial crisis. This partly reflects the regime change of the monetary policy to the inflation targeting rule after the financial crisis.

• Korean Journal of Remote Sensing
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• v.21 no.3
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• pp.221-228
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• 2005

Baekdusan is a Cenozoic stratovolcano in which a series of micro-seismic events and gaseous emissions have been reported in 1990s. Two-pass DInSAR technique was applied to determine displacement in the volcano by using 10 ERS SAR and 41 JERS-1 SAR datasets. Most interferometric phases out of 58 JERS-1 differential interferograms showed concentric fringe patterns that correlated with elevation. From an analysis of fringe-duration relation, the fringe patterns were found to be severely distorted specifically by stratified troposphere. To estimate the tropospheric delay, we used the data in the Sobaeksan located about 20 km away from the summit of Baekdusan. The maximum and mean magnitudes of the phase delay in the Baekdusan were respectively 13.8 cm and 3.8 cm over 1200 m in altitude. After removing tropospheric effects, a mean inflation rate was estimated to be about 3 mm per year from 1992 to 1998. Although the inflation rate of the volcano is inconclusive without ground truth data, the results indicate that there exists slow upward deformation in the Baekdusan volcano.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.1
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• pp.5-9
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• 2018

Many developing countries have attempted to depreciate their currencies in order to make their products cheaper, stimulate exports, shift aggregate demand to the right, and increase aggregate output. However, currency depreciation tends to increase import prices, raise domestic inflation, reduce capital inflows, and shift aggregate supply to the left. The net impact is unclear. The paper incorporates the monetary policy function in the model, which is determined by the inflation gap, the output gap, the real effective exchange rate, and the world real interest rate. Applying an extended IS-MP-AS model (Romer, 2000), the paper finds that real depreciation raised real GDP during 1997.Q1-2005.Q3 whereas real appreciation increased real GDP during 2005.Q4-2017.Q2. In addition, a higher government debt-to-GDP ratio, a lower U.S. real federal funds rate, a higher real stock price, a lower real oil price or a lower expected inflation rate would help increase real GDP. Hence, real depreciation or real appreciation may increase or reduce aggregate output, depending upon the level of economic development. Although expansionary fiscal policy is effective in stimulating the economy, caution needs to be exercised as there may be a debt threshold beyond which a further increase in the debt-to-GDO ratio would hurt economic growth.

• Economic Analysis
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• v.26 no.2
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• pp.1-42
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• 2020

This paper studies, from a quantity theory of money perspective, the reasons that North Korean inflation and exchange rates maintain stability while its economy is experiencing difficulties due to the international community's economic sanctions. In doing so, this paper uses both domestic and foreign currencies in an analytic model based on the quantity theory of money to cautiously reflect North Korea's dollarization as well as its management of its exchange rate. In particular, foreign currency holdings are divided into those for store-of-value purposes and those for transaction purposes. This paper shows that in the early stages, in which the amount of foreign currency holdings for store-of-value purposes is decreasing while the amount of foreign currency holdings for transaction purposes is intact, inflation and exchange rates both exhibit stable movements. In the middle stages, where the amount of foreign currency holdings for transaction purposes begins to fall, exchange rates show some increase and inflation decreases. In the final stages, when the amount of foreign currency holdings for transaction purposes significantly decreases, exchange rates and inflation both increase, and in some situations a crisis can happen. According to this paper's analysis, if the economic sanctions continue to the extent that the amount of North Korean foreign currency holdings for transaction purposes starts to fall, the exchange rate and inflation stability we see now are unlikely to be maintained.

• Journal of the Korean Wood Science and Technology
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• v.20 no.1
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• pp.5-14
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• 1992

Experimental external collector type solar lumber dryer of $1m^3$ of maximum capacity with $1.6m^3$ of collector area was designed and constructed. The seasonal performance of solar dryer, including air-conditions, energy efficiency, and drying characteristics of 3cm-thick red pine and douglas-fir lumber was investigated. Also, the economic analysis was carried out. Annual average solar drying rate was about 2 times faster than air-drying rate with no significant difference in the amount of drying defects. But in initial drying stage air-drying rate in winter was much faster and those in spring and autumn were slightly slower than solar drying rate in each season. Annual average energy efficiency of solar-dryer and-collector was 25% and 57%, respectively. Fuel savings were over 50% at 15% of energy inflation rate and the payback period was estimated as 6.10 years at 30% of energy inflation rate.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.263-269
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• 2022

The global financial crisis of 2008-2009 and the COVID-19 pandemic that started in 2019 along with the slow and unstable recovery of the global economy have raised concerns about the impact of global uncertainty on the macroeconomics of the countries. The paper used the Structural Vector Autoregression (SVAR) model to examine the impact of global uncertainty shocks on Vietnam's economy from the period 2008-2022. We found that Vietnam's output dropped following the shock of global uncertainty, the peak was in the third month, and lasted for one year. Inflation in Vietnam had a rapid downturn in the first month, peaked in the seventh month, and took a long time to cease. When the economy experienced the shock of increased global uncertainty, Vietnam's policy interest rate was adjusted downward. Additionally, we included a long-term interest rate to consider the overall impact of monetary policy into account. A decreasing trend was also found with this rate. The global uncertainty shock effects acted as the aggregate demand shocks, reducing output and inflation as the uncertainty increases and vice versa, thus monetary policy can be used to regulate Vietnam's economy to deal with negative shocks without the trade-offs between output and inflation as aggregate supply shocks.

• Journal of Distribution Science
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• v.22 no.8
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• pp.17-27
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• 2024

Economic growth is influenced by various factors, including support from the banking world in channeling funds ownedthrough bank credit which will be a stimulus from economic activities as a source of economic growth. Purpose: Thisstudy aims to analyze the determinants of bank lending in supporting regional economic growth in South Sulawesi Province. Research Design, Data, and Methodology: This study uses secondary data taken from banking data and analyzed using path analysis Data analysis is carried out using the help of SPSS statistical analysis tools. Results: Non-Performance Loan, Three Partied Fund, Inflation, Exchange Rate directly affect economic growth. For the analysis of the indirect effect of Non-performance loans and Three Partied Funds have an indirect effect on economic growth through lending while the Loan to deposit Ratio, Inflation and exchange rate do not indirectly affect economic growththrough lending. Credit disbursement has a positive and significant effect on economic growth Conclusion: Economicgrowth of a region is influenced by many factors and these factors are influences from the banking world, the results ofthis study show that economic growth is strongly influenced by bank support through lending to support the economy by considering other factors such as interest rates and currency exchange rates

• The Korean Journal of Applied Statistics
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• v.27 no.1
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• pp.123-132
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• 2014

Inflation uncertainty is known to have deleterious effects on facilities investment by disturbing the corporate decision on the opportunity cost of investment. In this paper, we test the validity of this hypothesis in Korea by estimating the inflation uncertainty with both a time-varing parameter model with GARCH disturbances and the relative price volatility and then, estimate the facilities investment equation which includes those uncertainty indicators. The uncertainty indexes estimated by the above-mentioned methods continue to fluctuate even after the inflation rate has dropped dramatically reflecting the structural changes of Korea's economy since the financial crisis in 1997. As a result of estimation of the investment equation by both OLS and GMM, we find the inflation uncertainty has a negative effect on facilities investment with a statistical significance. Moreover, by means of Markov-switching regression model utilized to verify the non-linearity of this relationship, we draw a conclusion that this negative effect of inflation uncertainty heightens asymmetrically during the downturn periods of business cycle.

• Economic Analysis
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• v.27 no.4
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• pp.1-42
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• 2021

The outlook for Korea's consumer price inflation rate has a profound impact not only on the Bank of Korea's operation of the inflation target system but also on the overall economy, including the bond market and private consumption and investment. This study presents the prediction results of consumer price inflation in Korea for the next three years. To this end, first, model selection is performed based on the out-of-sample predictive power of autoregressive distributed lag (ADL) models, AR models, small-scale vector autoregressive (VAR) models, and large-scale VAR models. Since there are many potential predictors of inflation, a Bayesian variable selection technique was introduced for 12 macro variables, and a precise tuning process was performed to improve predictive power. In the case of the VAR model, the Minnesota prior distribution was applied to solve the dimensional curse problem. Looking at the results of long-term and short-term out-of-sample predictions for the last five years, the ADL model was generally superior to other competing models in both point and distribution prediction. As a result of forecasting through the combination of predictions from the above models, the inflation rate is expected to maintain the current level of around 2% until the second half of 2022, and is expected to drop to around 1% from the first half of 2023.