• Title/Summary/Keyword: MBS

Search Result 156, Processing Time 0.025 seconds

Risks of Mortgage-Backed Securities and Their Pricing (MBS의 위험과 가치평가)

  • You, Jin
    • The Korean Journal of Financial Management
    • /
    • v.24 no.3
    • /
    • pp.29-62
    • /
    • 2007
  • We examine the methods to increase MBS values given parameters of default risks of individual mortgages and their correlation, and analyze the effects of these parameters on the efficiency of the methods. First, the values of MBS can be improved when they are comprised of low-correlation mortgages regardless of specific forms of investors' utility functions. Second, the values of MBS can also be raised even after their components mortgages are determined. More specifically, when investors' utilities are heterogeneous, CMO's of a less risky tranche and a riskier tranche are highly valued compared with pass-through securities of two identical tranches. When investors' utilities are homogeneous(risk averse), however, the latter meets the needs of investors better than the former does. Third, it can be shown that the efficiency of the methods in this paper is an increasing function of default risks of mortgage loans or of the correlation between them, and a decreasing function of the amount of the price fall of MBS when in default.

  • PDF

Multiple births conceived by assisted reproductive technology in Korea

  • Park, Young-Sil;Choi, Sun-Hee;Shim, Kye-Shik;Chang, Ji-Young;Hahn, Won-Ho;Choi, Yong-Sung;Bae, Chong-Woo
    • Clinical and Experimental Pediatrics
    • /
    • v.53 no.10
    • /
    • pp.880-885
    • /
    • 2010
  • Purpose: The recent trends of multiple births (MBs) conceived by assisted reproductive technology (ART) in Korea were analyzed as well as the relationship with maternal age, especially advanced maternal age. Methods: Data were obtained from the Korean Statistical Information Service and annual ART reports from the ART committee of the Korean Society of Obstetrics and Gynecology. Results: MBs increased from the early 1990s; there was a 275% increase by 2008. The number of total live births was 448,153 and MBs accounted for 10,767; the MB rate was 24.0% in 2006. Among 2,326 deliveries conceived by ART, multiple deliveries accounted for 786 (33.8%). The total number of live births with ART was 3,125 and 1,585 (50.7%) of them were MBs. During 2006, 14.7% of the entire MBs in Korea were associated with ART. The proportion of women of advanced maternal age was much higher in the ART group than in the total live birth group. Conclusion: MBs in women of advanced maternal age have been increasing in Korea with the use of ART. The results of this study showed that ART was a significant factor associated with the increase in MBs in Korea.

Preparation of Properties of PC/PBT Alloy Using MBS Compatibility (MBS상용화제를 사용한 PC/PET Alloy의 제조와 그 물성)

  • Lee, Yong-Moo;Kang, Doo-Whan
    • Applied Chemistry for Engineering
    • /
    • v.5 no.1
    • /
    • pp.54-62
    • /
    • 1994
  • Bisphenol A polycarbonate(PC) and polyethylene terephthalate(PET) was blended with methylmethacrylate-butadiene-styrene(MBS) copolymer for the improvement of impact resistance strength PC/PET alloy blending with PC more than 15 parts to 100 parts of PET usually have poor compatability, but increased the compatability characteristics of PC/PET alloy prepared by addition of MBS compatabilizer. The compatability of PC and PET using compatabilizer, MBS was determined by measuring the thermal characteristics of Tg difference between PC and PET, and crystallization temperature, Tcc. As the Tg difference becoming narrow to $60^{\circ}C$, and Tcc decreasing to $150^{\circ}C$, the comparability of PC and PET was increased. And also tough rate impact strength to PC/PET alloy using MBS was increased, in case more than 15 parts of PC being blended to PET.

  • PDF

Convergence analysis technology for ship loading arm (선박용 로딩암에 적용할 수 있는 융합해석기술에 관한 연구)

  • Lee, Dae-Hee;Noh, Dae-Kyung;Lee, Geun-Ho;Park, Sung-Su;Jang, Joo-Sup
    • Journal of Advanced Marine Engineering and Technology
    • /
    • v.41 no.3
    • /
    • pp.258-268
    • /
    • 2017
  • In this study, we aim to converge a technology for analyzing the hydraulic circuit of a loading arm with an- other one for analyzing multi-body dynamics by utilizing analysis software SimulationX. Further, this study intends to overcome the limitations of the existing technology for analyzing a hydraulic circuit with a variation at the rotation center of the moving mass and the difficulty of incorporating the behavior in a gravity field. First, the specifications of the hydraulic circuit components were reflected in an analysis model to secure reliability. Hydraulic circuit modeling was then performed using a single analysis model with a verified reliability. Subsequently, the multi-body system (MBS) model of the loading arm was formed. Finally, the analysis model of the hydraulic circuit and the MBS model were converged to check if the circuit analysis result was exactly reflected in the MBS model. The convergence analysis model has development cost-saving effect because it is capable of predicting the dynamic behavior of an object without the prototype.

Effect of Cooking Method and Additives on the Freeze-Thaw Stability of Mung Bean Starch Paste for Preparation of Omija-eui

  • Han, Hyun-Jeong;Jang, Keum-Il;Bae, In-Young;Lee, Kwang-Yeon;Koo, Seung-Hyun;Kim, Mi-Kyung;Jun, Soo-Jin;Lee, Hyeon-Gyu
    • Food Science and Biotechnology
    • /
    • v.18 no.5
    • /
    • pp.1230-1236
    • /
    • 2009
  • Optimum conditions for the freeze-thaw stability (FTS) of mung bean starch (MBS) paste as a main ingredient in omija-eui were investigated. For the optimization of the paste preparation condition, the FTS of MBS prepared by boiling in a shaking water bath (BMSW) or by pressure-cooking in an autoclave (PCMA) were analyzed using a response surface methodology (RSM). In addition, the effects of various additives such as gums, sugars, and emulsifier were evaluated on the FTS of MBS paste prepared under optimal conditions. The predicted maximal FTS of MBS paste prepared by the PCMA method (73%) was higher than that of the paste prepared by the BMSW method (36%). In case of additives, gellan gum and sodium alginate effectively prevented the syneresis of MBS paste in the BMSW method and in the PCMA method, respectively. The use of a fructose fatty acid ester as an emulsifier decreased syneresis in a dose-dependent, while the addition of sugars accelerated syneresis. Consequently, MBS paste for omija-eui preparation may be efficiently prepared by adding sodium alginate and fructose fatty acid ester under the optimal conditions of 4.3% MBS content, $121^{\circ}C$ heating temperature, and $89^{\circ}C$ cooling temperature by pressure-cooking in an autoclave.

Effects of Security Design and Investor Utilities on the Valuation of Mortgage-Backed Securities (MBS의 발행구조, 가치평가 몇 투자자 특성에 관한 연구)

  • Yoo, Jin
    • The Korean Journal of Financial Management
    • /
    • v.22 no.1
    • /
    • pp.147-179
    • /
    • 2005
  • It is frequently said that mortgage-backed securities (MBS) of different security designs are issued in an attempt to meet the varying needs and expectations of investors. If this is true indeed, MBS of complicated risk-return characteristics are likely to be priced higher than MBS of simple risk-return characteristics we. We test this implication by establishing a recombining binomial interest rate prepayment model with a burnout effect embedded. More specifically, we compare the relative values (utilities) of a pass-through and a PAC- Support collateralized mortgage obligation(CMO), and theoretically show why and how the CMO is more highly valued than is the pass-through. The model is established such that mortgage prepayment is a function of the current value of, and the past path of, the mort-gage market rate. Since we work on not the total value of the two MBS but the value of each tranche of either MBS, the test results could be robust to slightly different versions of similar tests, which may be done in the future.

  • PDF

Mobile Base Station Placement with BIRCH Clustering Algorithm for HAP Network (HAP 네트워크에서 BIRCH 클러스터링 알고리즘을 이용한 이동 기지국의 배치)

  • Chae, Jun-Byung;Song, Ha-Yoon
    • Journal of KIISE:Computing Practices and Letters
    • /
    • v.15 no.10
    • /
    • pp.761-765
    • /
    • 2009
  • This research aims an optimal placement of Mobile Base Station (MBS) under HAP based network configurations with the restrictions of HAP capabilities. With clustering algorithm based on BIRCH, mobile ground nodes are clustered and the centroid of the clusters will be the location of MBS. The hierarchical structure of BIRCH enables mobile node management by CF tree and the restrictions of maximum nodes per MBS and maximum radio coverage are accomplished by splitting and merging clusters. Mobility models based on Jeju island are used for simulations and such restrictions are met with proper placement of MBS.

Mobile WiMAX Relay System with Dynamic Modulation and Coding Scheme for Multicast Broadcast Service (동적인 변조 및 코딩 기술을 이용한 모바일 와이맥스 MBS 중계 시스템)

  • Cho, Chi-Hyun;Youn, Hee-Young
    • Journal of KIISE:Information Networking
    • /
    • v.37 no.3
    • /
    • pp.234-242
    • /
    • 2010
  • The demand on various broadcasting services has been greatly increasing in the area of mobile communication. In IEEE802.16e standard and mobile WiMAX, the multicast broadcast service (MBS) uses shared downlink channel for efficiently supporting a number of users. In this paper we propose a dynamic modulation and coding scheme with relay network to enhance the performance of MBS. The proposed approach employs the adaptive modulation and coding scheme for both the base station and relay station to achieve consistently high throughput. The result of computer simulation with NS-2 shows that the throughput and transmission time are significantly improved by using the proposed approach compared to the existing schemes having a fixed modulation level for the RSs.

Specific Detection of DNA Using Quantum Dots and Magnetic Beads for Large Volume Samples

  • Kim, Yeon-Seok;Kim, Byoung-Chan;Lee, Jin-Hyung;Kim, Jung-Bae;Gu, Man-Bock
    • Biotechnology and Bioprocess Engineering:BBE
    • /
    • v.11 no.5
    • /
    • pp.449-454
    • /
    • 2006
  • Here we present a sensitive DNA detection protocol using quantum dots (QDs) and magnetic beads (MBs) for large volume samples. In this study, QDs, conjugated with streptavidin, were used to produce fluorescent signals while magnetic beads (MBs) were used to isolate and concentrate the signals. The presence of target DNAs leads to the sandwich hybridization between the functionalized QDs, the target DNAs and the MBs. In fact, the QDs-MBs complex, which is bound using the target DNA, can be isolated and then concentrated. The binding of the QDs to the surface of the MBs was confirmed by confocal microscopy and Cd elemental analysis. It was found that the fluorescent intensity was proportional to concentration of the target DNA, while the presence of non-complementary DNA produced no significant fluorescent signal. In addition, the presence of low copies of target DNAs such as 0.5 pM in large volume samples up to 40mL was successfully detected by using a magnet-assisted concentration protocol which consequently results in the enhancement of the sensitivity more than 100-fold.

Traffic Offloading in Two-Tier Multi-Mode Small Cell Networks over Unlicensed Bands: A Hierarchical Learning Framework

  • Sun, Youming;Shao, Hongxiang;Liu, Xin;Zhang, Jian;Qiu, Junfei;Xu, Yuhua
    • KSII Transactions on Internet and Information Systems (TIIS)
    • /
    • v.9 no.11
    • /
    • pp.4291-4310
    • /
    • 2015
  • This paper investigates the traffic offloading over unlicensed bands for two-tier multi-mode small cell networks. We formulate this problem as a Stackelberg game and apply a hierarchical learning framework to jointly maximize the utilities of both macro base station (MBS) and small base stations (SBSs). During the learning process, the MBS behaves as a leader and the SBSs are followers. A pricing mechanism is adopt by MBS and the price information is broadcasted to all SBSs by MBS firstly, then each SBS competes with other SBSs and takes its best response strategies to appropriately allocate the traffic load in licensed and unlicensed band in the sequel, taking the traffic flow payment charged by MBS into consideration. Then, we present a hierarchical Q-learning algorithm (HQL) to discover the Stackelberg equilibrium. Additionally, if some extra information can be obtained via feedback, we propose an improved hierarchical Q-learning algorithm (IHQL) to speed up the SBSs' learning process. Last but not the least, the convergence performance of the proposed two algorithms is analyzed. Numerical experiments are presented to validate the proposed schemes and show the effectiveness.