• Environmental and Resource Economics Review
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• v.22 no.1
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• pp.77-98
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• 2013

China, the world's largest $CO_2$ producer, is likely to be obligated to reduce greenhouse gas emissions under the post-Kyoto protocol. This paper estimates a Shephard input distance function for the Chinese fossil-fueled power generation sector to measure the shadow price of $CO_2$ emissions, technical efficiency, and indirect Morishima elasticities of substitution between inputs. Empirical results show that, on average, it costs approximately 3.2 US dollars per year to reduce $CO_2$ emissions by one ton over the period 1981-2009. This finding indicates that Chinese power sector is expected to benefit from selling emission permits to other countries such as Korea and Japan, given that our estimate for China is lower than the ones previous literatures estimated for the power sector in these countries. The maximum attainable average $CO_2$ reduction potential amounts to approximately 25 million tons per year by improving technical efficiency. Capital is substitutable with both coal and oil and capital is relatively more readily substituted for these fuels.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.853-861
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• 2020

The study aims to measure the productivity of the Saudi banking sector at the retail level using secondary data for 11 local banks from the period 2015-2019. The study uses an extended version of the Cobb-Douglas production function to account for the fact that as banks openup more retail branches, they will need to employ more labor. The extended Cobb-Douglas production function was estimated using the two-way fixed effect model to account for unobserved heterogeneity across Saudi banks resulting from differences in labor competencies and leadership style. Besides, the model accounts for unobserved heterogeneity among Saudi banks due to the advancement in electronic services over time. The results showed that labor, branches, customers' deposits, and fixed deposits have a positive effect on the total value of generated loans. Conversely, ATM has an insignificant effect on generated loans. The average scale elasticity shows that the Saudi banks at the retail level are operating under decreasing returns to scale. The average marginal rate of technical substitution shows that Saudi banks need at least one ATM to replace one unit of labor at the retail level while keeping the same level of output.

• International Commerce and Information Review
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• v.8 no.2
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• pp.211-226
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• 2006

This paper discusses the definition of the term "domestic industry" in relation to the application of the safeguards provisions of the WTO through the judicial interpretation made by the WTO Appellate Body and panel. The requirements for the imposition of safeguards include a rapid increase in import quantity, the existence of serious injury or threat of serious injury to the domestic industry, and a causal relationship between the increase in imports and the industrial injury. The domestic industry refers to the producers that account for a considerable portion of the total national production, or the national producers who produce articles "like" or "directly competitive" with the specific imports. Chronically, there have been controversial disputes relating to the interpretation of the term "like" or "directly competitive". Reviewing the disputes relating to the term "domestic industry" in application of the safeguards provisions since the establishment of the WTO, the interpretation of the term "like" has been made imposing weight on the physical characteristics of the products. This interpretation is in contrast with that of the interpretation of the term "directly competitive" which has been interpreted with imposed weight on the commercial elasticity of substitution which can be measured by the final use or consumer's taste.

• Advances in concrete construction
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• v.6 no.1
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• pp.69-85
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• 2018

In order to provide sufficient stability and resistance against bleeding and segregation during transportation and placing, mineral admixtures are often used in self-compacting concrete mixes (SCC). These fine materials also contribute to reducing the construction cost and the consumption of natural resources. Many studies have confirmed the benefits of these mineral admixtures on properties of SCC in standard curing conditions. However, there are few published reports regarding their effects at elevated curing temperatures. The main objective of this study is to investigate the effect of three different mineral admixtures namely limestone powder (LP), granulated blast furnace slag (GS) and natural pozzolana (PZ) on mechanical properties and porosity of SCC when exposed to different curing temperatures (20, 40, 60 and $80^{\circ}C$). The level of substitution of cement by mineral admixture was fixed at 15%. The results showed that increasing curing temperature causes an improvement in performance at an early age without penalizing its long-term properties. However the temperature of $40^{\circ}C$ is considered the optimal curing temperature to make economical and high performance SCC. On the other hand, GS is the most suitable mineral admixture for SCC under elevated curing temperature.

• Computers and Concrete
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• v.23 no.3
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• pp.189-201
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• 2019

Recent advances in the concrete technology are aiding in minimizing the use of conventional materials by substituting by-products of various industries and energy sources. A large amount of stone waste i.e., dust and slurry form both are being originated during natural stone processing and causing deadily effects on the environment. The disposal problem of stone waste can be resolved effectively by using waste in construction industries. In present work, Kota stone slurry powder, as a substitution of cement was used along with accelerators namely calcium nitrate and triethanolamine as additives, to study their impact on various properties of the concrete mixtures. Kota stone slurry powder (7.5%), calcium nitrate (1%) and triethanolamine (0.05%) were used separately as well in combination in different concrete mixtures. Mechanical Strength, modulus of elasticity and electrical resistivity of concrete specimens of different mix proportions under water curing were studied experimentally. The durability properties in terms of strength and electrical resistivity against sulphate and chloride solution attack at various curing ages were also studied experimentally. Results showed that accelerators and Kota stone slurry powder separately enhanced the mechanical strength and electrical resistivity; but, their combination decreased strength at all curing ages. The durability of concrete specimens was also affected under the exposure to chemical attack too. Kota stone slurry powder found to be the most effective material among all materials. Material characterization was also done to study the microstructural properties.

• Korea Trade Review
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• v.43 no.2
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• pp.69-86
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• 2018

The paper studies the degree of international price dispersion for 300 individual goods and services between cities of three country groups over 1999 and 2013, focusing on the role of oil prices in generating deviations from the law of one price. We find that while oil prices did not contribute to the trend in cross-country price dispersion, it does account for within-country price dispersion. Once the oil price effect is subtracted out, the remaining price dispersion between U.S. cities no longer exhibits a noticeable upward trend. If oil prices increase transportation costs, they should increase the deviations from the law of one price, raising price dispersion. Our findings indicate that this effect is more pronounced within a country, while factors such as elasticity of substitution and other trade barriers are likely to matter more in price dispersion across borders. We view our results as complementary to those that emphasize the role of time-varying factors in accounting for price dispersion.

• Advances in concrete construction
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• v.16 no.5
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• pp.269-276
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• 2023

In order to study the effect of rubber particle size and admixture on the frost resistance of self-compacting concrete, three self-compacting concrete specimens with equal volume replacement of fine aggregate by rubber particles of different particle sizes were prepared, while conventional self-compacting concrete was made as a comparison specimen. The degradation law of rubber aggregate self-compacted concrete under freeze-thaw cycles was investigated by fast-freezing method test. The results show that the rubber aggregate has some influence on the mechanical properties and freeze-thaw durability of the self-compacting concrete. With the increase of rubber aggregate, the compressive strength of self-compacting concrete gradually decreases, and the smaller the rubber aggregate particle size is, the smaller the effect on the compressive strength of the matrix; rubber aggregate can improve the frost resistance of self-compacting concrete, and the smaller the rubber particle size is, the more obvious the effect on the improvement of the frost resistance of the matrix under the same dosage. Through the research of this paper, it is recommended to use 60~80 purpose rubber aggregate and the substitution rate of 10% is chosen as the best effect.

• Journal of the Korean Recycled Construction Resources Institute
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• v.3 no.4
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• pp.355-365
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• 2015

This study examined the fluidity and strength properties, water resistance, durability, and freeze-thaw of cementless loess mortar using an eco-friendly hardening agent. The experimental result indicates that 28 days compressive and flexural strength of the loess mortar was increased regardless of the weathered granite soil and loess mixture ratio as the replacement ratio of the hardening agent increases. The strengths were significantly increased until 14 days regardless of the hardening agent, while the effect on the strengths increasement was relatively low after 14 days. Thus, the strength development of loess mortar concrete was found to be faster than that of the normal concrete. In addition, when the hardening agent of 10% was used, the average flexural strength was 1.7MPa which is insufficient compared to the 28-day flexural strength of 4.5MPa for the paving concrete. However, the flexural strengths of the loess mortar concrete using the hardening agents of 20% and 30% were 4.0MPa and 5.3MPa, respectively. Thus, the hardening agent need to be at least 20% so that the loess mortar can be used for paving concrete. The experiment for water resistance shows that the repeated absorption and dry reduced mass regardless of the mixing ratio of the loess. The maximum length change also decreased with increasing the substitution rate loess mixture ratio and the hardening agent. The result of the freeze-thaw resistance test indicates that the relative dynamic modulus of elasticity at 300 cycle freeze-thaw with the hardening agents of 20% and 30% were 75% and 79%, relatively. Thus, the hardening agent of at least 20% is required to obtain the relative dynamic modulus of elasticity of 60% for the loess mortar.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.171-205
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• 2014

This paper investigates the manner in which house prices affect macroeconomic variables through a house price channel by applying the method of Iacoviello (2005) to Korean data, and establishing a DSGE model with complementarity. This paper found that higher LTV ratio coupled with stronger complementarity results in the co-movement in both consumption and housing. For instance, the results show that when the LTV ratio and complementarity stands respectively at 50% and 0.42, an 1% rise in house prices increases consumption by 0.057%, and when the complementarity parameter increases to 0.52 with LTV remains unchanged at 50%, consumption rises by 0.047% per 1% increase in house prices. An increase in house prices leads credit constraints for borrowers to become more loose as value of a house rises as a collateral. The increase in household credit enables more consumer spending, eventually leading to increased consumption. A key link in which house prices are connected to macroeconomic variables is change in consumption. To put it simply, a rise in house prices leads to an increase in consumption, which consequently impacts the overall macro-economy. At this point, complementarity is found, in that the elasticity of intra-temporal substitution between housing and consumption is estimated at 0.42, which plays an important role in the house price channel by amplifying the effects of house prices on consumption.

• Journal of the Korean Recycled Construction Resources Institute
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• v.5 no.3
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• pp.253-260
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• 2017

The aim of research is to investigate various physical properties of ultra high strength concrete of 80MPa class using a combination of limestone aggregate and electronic arc furnace oxidizing slag aggregate. For aggregate combinations, granite and limestone are used for coarse aggregate, granite and limestone are also used for fine aggregate. And also, limestone fine aggregate is replaced by electronic arc furnace oxidizing slag aggregate of 25% and 50%. Test results indicated that flowability and compressive strength increased when limestone fine aggregate was used compared to that using granite fine aggregate due to higher modulus of elasticity by limestone. Also substitution of electronic arc furnace oxidizing slag aggregate resulted in a decrease of compressive strength slightly. It is found that the use of electronic arc furnace oxidizing slag aggregate and limestone aggregate would be favorable for reducing the autogenous shrinkage by as much as 9~25%.