• 유통과학연구
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• 제13권11호
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• pp.39-46
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• 2015

Purpose - In Korea, there has been a recent trend that shows housing prices have risen rapidly following the International Monetary Fund crisis. The rapid rise in housing prices is spreading recognition of this as a factor in housing price volatility. In addition, this raises the expectations of housing prices in the future. These expectations are based on the assumption that a relationship exists between the current housing prices and expected housing prices in the real estate industry. By performing an empirical analysis on the validity of the claim that an increase in current housing prices can be correlated with expected housing prices, this study examines whether a long-term equilibrium relationship exists between expected housing prices and existing housing prices. If such a relationship exists, the recovery of equilibrium from disequilibrium is analyzed to derive related implications. Research design, data, and methodology - The relationship between current housing prices and expected housing prices was analyzed empirically using the Vector Error Correction Model. This model was applied to the co-integration test, the long-term equilibrium equation among variables, and the causality test. The housing prices used in the analysis were based on the National Housing Price Trend Survey released by Kookmin Bank. Additionally, the Index of Industrial Product and the Consumer Price Index were also used and were obtained from the Bank of Korea ECOS. The monthly data analyzed were from January 1987 to May 2015. Results - First, a long-term equilibrium relationship was established as one co-integration between current housing price distribution and expected housing prices. Second, the sign of the long-term equilibrium relationship variable was consistent with the theoretical sign, with the elasticity of housing price distribution to expected housing price, the industrial production, and the consumer price volatility revealed as 1.600, 0.104,and 0.092, respectively. This implies that the long-term effect of expected housing price volatility on housing price distribution is more significant than that of the industrial production and consumer price volatility. Third, the sign of the coefficient of the error correction term coincided with the theoretical sign. The absolute value of the coefficient of the correction term in the industrial production equation was 0.006, significantly larger than the coefficients for the expected housing price and the consumer price equation. In case of divergence from the long-term equilibrium relationship, the state of equilibrium will be restored through changes in the interest rate. Fourth, housing-price volatility was found to be causal to expected housing price, and was shown to be bi-directionally causal to industrial production. Conclusions - Based on the finding of this study, it is required to relieve the association between current housing price distribution and expected housing price by using property taxes and the loan-to-value policy to stabilize the housing market. Further, the relationship between housing price distribution and expected housing price can be examined and tested using a sophisticated methodology and policy variables.

• 지역연구
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• 제15권3호
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• pp.33-51
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• 1999

After the 1997 currency crisis, the real estate prices had been rapidly dropped and the deregulation in the Korean real estate merket has been performed. It is analyzed whether these transactions caused a structural change in real estate market, or not. The Pettitt test shows there exists a turing point in real estate prices in 1998. It is found that the degrees of co-movement between the change in real estate prices and real GDP growth rate are increased. Consequently, the factor, represented as real GDP growth rate, determining the market fundamental of real estate prices will effect on the behavioral pattern and the real estate prices in the long run. While the factors determining the portfolio selection behaviors, such as interest rate and stock prices, will cause short-term variations.

• Animal Bioscience
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• 제36권12호
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• pp.1889-1897
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• 2023

Objective: 'Cultured meat' has been suggested as means of solving the problems associated with overpopulation and gas emissions. Satellite cells are a major component in the production of cultured meat; however, these cells cannot be maintained in vitro over long periods. Fibronectin is a glycoprotein that affects biological processes such as cell adhesion, differentiation, and migration. Unfortunately, the characteristics of porcine satellite cells grown in a long-term culture when exposed to fibronectin-coated dishes are unknown. The objective of this study was to investigate the appropriate concentration of fibronectin coated dishes for proliferation and maintenance of porcine satellite cells at long-term culture. Methods: In this study, we isolated the satellite cells and fibroblast cells with pre-plating method. We next analyzed the cell doubling time, cell cycle, and rate of expressed paired box 7 (Pax7) and myogenic differentiation 1 (MyoD1) in porcine satellite cells cultured with 20 ㎍/mL of fibronectin-, gelatin-, and non-coated dishes at early and late passage. We then analyzed the proliferation of porcine satellite cells with various concentrations of mixed gelatin/fibronectin. We next determined the optimal concentration of fibronectin that would encourage proliferation and maintenance of porcine satellite cells in a long-term culture. Results: Doubling time was lowest when 20 ㎍/mL of fibronectin was used (as tested during an early and late passage). Levels of expressed Pax7 and MyoD1, assessed using immunocytochemistry, were highest in cells grown using fibronectin-coated dishes. The proliferation of gelatin/fibronectin mixed coatings had no significant effect on porcine satellite cells. The concentration of 5 ㎍/mL fibronectin coated dishes showed the lowest doubling time and maintained expression of Pax7. Conclusion: Fibronectin with 5㎍/mL effectively maintains porcine satellite cells, a discovery that will be of interest to those developing the next generation of artificial meats.

• The Journal of Asian Finance, Economics and Business
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• 제5권3호
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• pp.7-17
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• 2018

This paper examines short-run and long-run dynamic relationships between selected macroeconomic variables and stock prices in the Korea Stock Exchange. The data is restricted to the period for which monthly data are available from January 1986 to October 2016 (370 observations) retrieved from the Economic Statistics System database sponsored by the Bank of Korea. The study employs unit root test, cointegration test, vector error correction estimates, impulse response test, and structural break test. The results of the Johansen cointegration test indicate at least three cointegrating equations exist at the 0.05 level in the model, confirming that there is a long-run equilibrium relationship between stock prices and macroeconomic variables in Korea. The results of vector error correction model (VECM) estimates indicate that money supply and short-term interest rate are not related to stock prices in the short-run. However, exchange rate is positively related to stock prices while the industrial production index and inflation are negatively related to stock prices in the short-run. Furthermore, the VECM estimates indicate that the external shock, such as regional and global financial crisis shocks, neither affects changes in the endogenous variables nor causes instability in the cointegrating vector. This study finds that the endogenous variables are determined by their own dynamics in the model.

• Proceedings of the National Institute of Ecology of the Republic of Korea
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• 제3권3호
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• pp.129-138
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• 2022

Reintroduction programs have been promoted across the world to recover and rehabilitate endangered birds through ex situ captive breeding and releasing to the nature. The ultimate aims of these reintroduction programs are recovery of sustainable populations in natural habitats. To ensure the success of the reintroduction programs, it is necessary to examine the followings in order to increase the success rate of releasing along with the development of captive breeding techniques: 1) Adequate habitat provision, 2) adaptability of captive-bred individuals, 3) survivability of released individuals, and 4) social interest and will. Before releasing captive-bred individuals, it should be reviewed whether there are habitats in which the limiting factor is removed, and assessed their long-term safety. The quantity and quality of the released individuals must be considered to increase the chances for mate selection, maintain genetic diversity, and acquire the ability to adapt to the wild. The release method must be decided in consideration of characteristics of the target habitats and individuals, and rational means such as careful observation, evaluation, and feedback must be provided throughout the release process. For the long-term success of recovery projects, social awareness, sustainable support, and related experts are needed. Satisfying these criteria can help to increase the success rates of reintroduction programs. For the bird reintroduction program in the future, the feasibility of the methods and procedures must be closely reviewed before starting.

• Journal of Hospice and Palliative Care
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• 제14권2호
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• pp.61-70
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• 2011

최근 암 발생의 증가와 그에 따른 방사선 치료의 증가로 방사선 치료의 부작용은 암환자에서 치료 후 고려되어야 할 중요한 부작용 중 하나이다. 방사선 치료의 후기 부작용의 위험성이 있는 장기 암 생존자가 재발하여 호스피스 완화의료를 받게 되거나 말기암환자가 완화 목적의 방사선 치료를 받게 되는 경우 방사선 치료 부작용에 대한 이해와 지식이 이들 환자에 대한 의학적 진단 및 관리와 조정에 도움이 될 수 있을 것이다. 암환자의 생존율 향상과 암 치료 부작용의 감소를 위해 암 치료에 대한 많은 연구와 발전이 이루어지고 있지만, 임상에서 방사선 치료를 포함한 암 치료 부작용의 관리에 대한 관심은 상대적으로 적은 편이고 이에 대한 치료의 발전도 더디고 부족하다. 환자의 고통을 덜어주고 삶의 질을 유지, 향상시킬 수 있는 사후 관리를 위해 치료의 부작용과 관리에 대해 충분히 숙지할 필요가 있고, 향후 보완 통합적 접근으로 적극적인 연구와 관심이 필요할 것으로 생각된다.

• 한국산업융합학회 논문집
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• 제25권3호
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• pp.467-476
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• 2022

The Bank of Korea raised the benchmark interest rate by a quarter percentage point to 1.75 percent per year, and analysts predict that South Korea's policy rate will reach 2.00 percent by the end of calendar year 2022. Furthermore, because market volatility has been significantly increased by a variety of factors, including rising rates, inflation, and market volatility, many investors have struggled to meet their financial objectives or deliver returns. Banks and financial institutions are attempting to provide Robo-Advisors to manage client portfolios without human intervention in this situation. In this regard, determining the best hyper-parameter combination is becoming increasingly important. This study compares some activation functions of the Deep Deterministic Policy Gradient(DDPG) and Twin-delayed Deep Deterministic Policy Gradient (TD3) Algorithms to choose a sequence of actions that maximizes long-term reward. The DDPG and TD3 outperformed its benchmark index, according to the results. One reason for this is that we need to understand the action probabilities in order to choose an action and receive a reward, which we then compare to the state value to determine an advantage. As interest in machine learning has grown and research into deep reinforcement learning has become more active, finding an optimal hyper-parameter combination for DDPG and TD3 has become increasingly important.

• East Asian Economic Review
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• 제22권4호
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• pp.507-529
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• 2018

This paper evaluates the whole impact of quantitative easing on inflation in Korea implemented by the central banks in four major advanced economies, the U.S., Euro Area, U.K. and Japan. According to the analysis employing a VAR-X model with the security holdings of those central banks an exogenous variable, quantitative easing is estimated to exert downward pressures on inflation in Korea. Considering the impulse responses of Korean macroeconomic variables to a quantitative easing shock, the spillover effect is transmitted through exchange rate channel while trade channel turns out to be ineffective. In an additional analysis assessing the impact of each quantitative easing program of the central banks, only those of the Fed and European Central Bank are estimated to be significant. The empirical results prove to be robust even if using long-term interest rates as an alternative indicator of quantitative easing.

• Strategy21
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• 통권39호
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• pp.198-241
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• 2016

Aircraft carriers: are they national platforms to maximize national interest or just simply paper tigers to be little useful for states' development? To some states such as U.S., U.K, and France, aircraft carriers functioned as national assets which is indispensable to their interest. By contrast, Thailand's aircraft carrier was a dead platform which is useless to its national interest and India's ones were little used on the mission field. What is the mechanism leading to this difference? The key is whether states make aircraft carriers connected to overall national evolution when it comes to establishing military strategy and planning a long-term force structure. Put it another way, conditions to acquire them need to be analyzed regarding two variables-national status(prestige and economic power) and threat(mission)-for the future as well as in the present. The former acquired carriers under the condition of making them becoming national platforms which is balanced with their overall development. However, the latter simply bought them without carefully taking account of economic obstacles, e.g., the poverty rate, when it comes to force planning. At the same time, we should not neglect to identify that states of the former cases might have a hard time in maximizing their key interests if they did not have carriers. Accordingly, conditions on carriers' acquisition need to be carefully examined and a typological theory suggested here could shed light on this process. This theory shows that South Korea's status is eligible to have a necessary and sufficient condition to acquire carriers.

• Child Health Nursing Research
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• 제9권1호
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• pp.96-106
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• 2003

Advances in neonatal care system and research have resulted in an increased survival rate among low birth weight infants in the industrialized countries. Recent Korean neonatal mortality and morbidity statistics, and current status of Korean neonatal intensive care facilities were reviewed here for the sake of future improvement and research. Morbidity statistics revealed that perinatal diseases accounted for 80％ of the death of premature infants implying the possibility of its reduction by the vigorous prenatal care service in future.On the basis of extensive studies of nutritional support and growth rate of premature infants, commercial formulas for premature infants have been developed and various aspects of feeding techniques are standardized. However, problem of growth deficit of premature infants remains unsolved as medical problem. NICU specialists are challenged with the tasks of prenatal education or provision of care that minimizes the neurodevelopmental problems seen in preterm infants, various short-term outcome researches have been reported and those are reviewed here to promote research interest in the field of neonatal nursing. Systemic long-term outcome studies are also awaited in Korea for the formulation of welfare policy in future. Nursing science has to embrace all these interdisciplinary studies as their own research field in collaboration with neonatologist, nutritionist, rehabilitation therapist, social workers and teachers.