• Title/Summary/Keyword: economic forecasting

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Characteristics of Road Weather Elements and Surface Information Change under the Influence of Synoptic High-Pressure Patterns in Winter (겨울철 고기압 영향에서 도로 위 기상요소와 노면정보 변화 특성에 관한 연구)

  • Kim, Baek-Jo;Nam, Hyounggu;Kim, Seon-Jeong;Kim, Geon-Tae;Kim, Jiwan;Lee, Yong Hee
    • Journal of Environmental Science International
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    • v.31 no.4
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    • pp.329-339
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    • 2022
  • Better understanding the mechanism of black ice occurrence on the road in winter is necessary to reduce the socio-economic damage it causes. In this study, intensive observations of road weather elements and surface information under the influence of synoptic high-pressure patterns (22nd December, 2020 and 29th January, and 25th February, 2021) were carried out using a mobile observation vehicle. We found that temperature and road surface temperature change is significantly influenced by observation time, altitude and structure of the road, surrounding terrain, and traffic volume, especially in tunnels and bridges. In addition, even if the spatial distribution of temperature and road surface temperature for the entire observation route is similar, there is a difference between air and road surface temperatures due to the influence of current weather conditions. The observed road temperature, air temperature and air pressure in Nongong Bridge were significantly different to other fixed road weather observation points.

Improvement in Seasonal Prediction of Precipitation and Drought over the United States Based on Regional Climate Model Using Empirical Quantile Mapping (경험적 분위사상법을 이용한 지역기후모형 기반 미국 강수 및 가뭄의 계절 예측 성능 개선)

  • Song, Chan-Yeong;Kim, So-Hee;Ahn, Joong-Bae
    • Atmosphere
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    • v.31 no.5
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    • pp.637-656
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    • 2021
  • The United States has been known as the world's major producer of crops such as wheat, corn, and soybeans. Therefore, using meteorological long-term forecast data to project reliable crop yields in the United States is important for planning domestic food policies. The current study is part of an effort to improve the seasonal predictability of regional-scale precipitation across the United States for estimating crop production in the country. For the purpose, a dynamic downscaling method using Weather Research and Forecasting (WRF) model is utilized. The WRF simulation covers the crop-growing period (March to October) during 2000-2020. The initial and lateral boundary conditions of WRF are derived from the Pusan National University Coupled General Circulation Model (PNU CGCM), a participant model of Asia-Pacific Economic Cooperation Climate Center (APCC) Long-Term Multi-Model Ensemble Prediction System. For bias correction of downscaled daily precipitation, empirical quantile mapping (EQM) is applied. The downscaled data set without and with correction are called WRF_UC and WRF_C, respectively. In terms of mean precipitation, the EQM effectively reduces the wet biases over most of the United States and improves the spatial correlation coefficient with observation. The daily precipitation of WRF_C shows the better performance in terms of frequency and extreme precipitation intensity compared to WRF_UC. In addition, WRF_C shows a more reasonable performance in predicting drought frequency according to intensity than WRF_UC.

A Baltic Dry Index Prediction using Deep Learning Models

  • Bae, Sung-Hoon;Lee, Gunwoo;Park, Keun-Sik
    • Journal of Korea Trade
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    • v.25 no.4
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    • pp.17-36
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    • 2021
  • Purpose - This study provides useful information to stakeholders by forecasting the tramp shipping market, which is a completely competitive market and has a huge fluctuation in freight rates due to low barriers to entry. Moreover, this study provides the most effective parameters for Baltic Dry Index (BDI) prediction and an optimal model by analyzing and comparing deep learning models such as the artificial neural network (ANN), recurrent neural network (RNN), and long short-term memory (LSTM). Design/methodology - This study uses various data models based on big data. The deep learning models considered are specialized for time series models. This study includes three perspectives to verify useful models in time series data by comparing prediction accuracy according to the selection of external variables and comparison between models. Findings - The BDI research reflecting the latest trends since 2015, using weekly data from 1995 to 2019 (25 years), is employed in this study. Additionally, we tried finding the best combination of BDI forecasts through the input of external factors such as supply, demand, raw materials, and economic aspects. Moreover, the combination of various unpredictable external variables and the fundamentals of supply and demand have sought to increase BDI prediction accuracy. Originality/value - Unlike previous studies, BDI forecasts reflect the latest stabilizing trends since 2015. Additionally, we look at the variation of the model's predictive accuracy according to the input of statistically validated variables. Moreover, we want to find the optimal model that minimizes the error value according to the parameter adjustment in the ANN model. Thus, this study helps future shipping stakeholders make decisions through BDI forecasts.

Construction of a Spatio-Temporal Dataset for Deep Learning-Based Precipitation Nowcasting

  • Kim, Wonsu;Jang, Dongmin;Park, Sung Won;Yang, MyungSeok
    • Journal of Information Science Theory and Practice
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    • v.10 no.spc
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    • pp.135-142
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    • 2022
  • Recently, with the development of data processing technology and the increase of computational power, methods to solving social problems using Artificial Intelligence (AI) are in the spotlight, and AI technologies are replacing and supplementing existing traditional methods in various fields. Meanwhile in Korea, heavy rain is one of the representative factors of natural disasters that cause enormous economic damage and casualties every year. Accurate prediction of heavy rainfall over the Korean peninsula is very difficult due to its geographical features, located between the Eurasian continent and the Pacific Ocean at mid-latitude, and the influence of the summer monsoon. In order to deal with such problems, the Korea Meteorological Administration operates various state-of-the-art observation equipment and a newly developed global atmospheric model system. Nevertheless, for precipitation nowcasting, the use of a separate system based on the extrapolation method is required due to the intrinsic characteristics associated with the operation of numerical weather prediction models. The predictability of existing precipitation nowcasting is reliable in the early stage of forecasting but decreases sharply as forecast lead time increases. At this point, AI technologies to deal with spatio-temporal features of data are expected to greatly contribute to overcoming the limitations of existing precipitation nowcasting systems. Thus, in this project the dataset required to develop, train, and verify deep learning-based precipitation nowcasting models has been constructed in a regularized form. The dataset not only provides various variables obtained from multiple sources, but also coincides with each other in spatio-temporal specifications.

Data Preprocessing Technique and Service Operation Architecture for Demand Forecasting of Electric Vehicle Charging Station (전기자동차 충전소 수요 예측 데이터 전처리 기법 및 서비스 운영 아키텍처)

  • Joongi Hong;Suntae Kim;Jeongah Kim
    • The Journal of the Institute of Internet, Broadcasting and Communication
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    • v.23 no.2
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    • pp.131-138
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    • 2023
  • Globally, the eco-friendly industry is developing due to the climate crisis. Electric vehicles are an eco-friendly industry that is attracting attention as it is expected to reduce carbon emissions by 30~70% or more compared to internal combustion engine vehicles. As electric vehicles become more popular, charging stations have become an important factor for purchasing electric vehicles. Recent research is using artificial intelligence to identify local demand for charging stations and select locations that can maximize economic impact. In this study, in order to contribute to the improvement of the performance of the electric vehicle charging station demand prediction model, nationwide data that can be used in the artificial intelligence model was defined and a pre-processing technique was proposed. In addition, a preprocessor, artificial intelligence model, and service web were implemented for real charging station demand prediction, and the value of data as a location selection factor was verified.

Diabetes Detection and Forecasting using Machine Learning Approaches: Current State-of-the-art

  • Alwalid Alhashem;Aiman Abdulbaset ;Faisal Almudarra ;Hazzaa Alshareef ;Mshari Alqasoumi ;Atta-ur Rahman ;Maqsood Mahmud
    • International Journal of Computer Science & Network Security
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    • v.23 no.10
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    • pp.199-208
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    • 2023
  • The emergence of COVID-19 virus has shaken almost every aspect of human life including but not limited to social, financial, and economic changes. One of the most significant impacts was obviously healthcare. Now though the pandemic has been over, its aftereffects are still there. Among them, a prominent one is people lifestyle. Work from home, enhanced screen time, limited mobility and walking habits, junk food, lack of sleep etc. are several factors that have still been affecting human health. Consequently, diseases like diabetes, high blood pressure, anxiety etc. have been emerging at a speed never witnessed before and it mainly includes the people at young age. The situation demands an early prediction, detection, and warning system to alert the people at risk. AI and Machine learning has been investigated tremendously for solving the problems in almost every aspect of human life, especially healthcare and results are promising. This study focuses on reviewing the machine learning based approaches conducted in detection and prediction of diabetes especially during and post pandemic era. That will help find a research gap and significance of the study especially for the researchers and scholars in the same field.

Forecasting Prices of Major Agricultural Products by Temperature and Precipitation (기온과 강수량에 따른 주요 농산물 가격 예측)

  • Kun-Hee Han;Won-Shik Na
    • Journal of Advanced Technology Convergence
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    • v.3 no.2
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    • pp.17-23
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    • 2024
  • In this paper, we analyzed the impact of temperature and precipitation on agricultural product prices and predicted the prices of major agricultural products using TensorFlow. As a result of the analysis, the rise in temperature and precipitation had a significant effect on the rise in prices of cabbage, radish, green onion, lettuce, and onion. In particular, prices rose sharply when temperature and precipitation increased simultaneously. The prediction model was useful in predicting agricultural product price changes due to climate change. Through this, agricultural producers and consumers can prepare for climate change and prepare response strategies to price fluctuations. The paper can contribute to understanding the impact of climate change on agricultural product prices and exploring ways to increase the stability and sustainability of agricultural product markets. In addition, it provides important data to increase agricultural sustainability and ensure economic stability in the era of climate change. The research results will also provide useful insights to policy makers and can contribute to establishing effective agricultural policies in response to climate change.

Policy evaluation of the rice market isolation system and production adjustment system

  • Dae Young Kwak;Sukho Han
    • Korean Journal of Agricultural Science
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    • v.50 no.4
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    • pp.629-643
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    • 2023
  • The purpose of this study was to examine the effectiveness and efficiency of a policy by comparing and analyzing the impact of the rice market isolation system and production adjustment system (strategic crops direct payment system that induces the cultivation of other crops instead of rice) on rice supply, rice price, and government's financial expenditure. To achieve this purpose, a rice supply and demand forecasting and policy simulation model was developed in this study using a partial equilibrium model limited to a single item (rice), a dynamic equation model system, and a structural equation system that reflects the casual relationship between variables with economic theory. The rice policy analysis model used a recursive model and not a simultaneous equation model. The policy is distinct from that of previous studies, in which changes in government's policy affected the price of rice during harvest and the lean season before the next harvest, and price changes affected the supply and demand of rice according to the modeling, that is, a more specific policy effect analysis. The analysis showed that the market isolation system increased government's financial expenditure compared to the production adjustment system, suggesting low policy financial efficiency, low policy effectiveness on target, and increased harvest price. In particular, the market isolation system temporarily increased the price during harvest season but decreased the price during the lean season due to an increase in ending stock caused by increased production and government stock. Therefore, a decrease in price during the lean season may decrease annual farm-gate prices, and the reverse seasonal amplitude is expected to intensify.

Predicting stock movements based on financial news with systematic group identification (시스템적인 군집 확인과 뉴스를 이용한 주가 예측)

  • Seong, NohYoon;Nam, Kihwan
    • Journal of Intelligence and Information Systems
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    • v.25 no.3
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    • pp.1-17
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    • 2019
  • Because stock price forecasting is an important issue both academically and practically, research in stock price prediction has been actively conducted. The stock price forecasting research is classified into using structured data and using unstructured data. With structured data such as historical stock price and financial statements, past studies usually used technical analysis approach and fundamental analysis. In the big data era, the amount of information has rapidly increased, and the artificial intelligence methodology that can find meaning by quantifying string information, which is an unstructured data that takes up a large amount of information, has developed rapidly. With these developments, many attempts with unstructured data are being made to predict stock prices through online news by applying text mining to stock price forecasts. The stock price prediction methodology adopted in many papers is to forecast stock prices with the news of the target companies to be forecasted. However, according to previous research, not only news of a target company affects its stock price, but news of companies that are related to the company can also affect the stock price. However, finding a highly relevant company is not easy because of the market-wide impact and random signs. Thus, existing studies have found highly relevant companies based primarily on pre-determined international industry classification standards. However, according to recent research, global industry classification standard has different homogeneity within the sectors, and it leads to a limitation that forecasting stock prices by taking them all together without considering only relevant companies can adversely affect predictive performance. To overcome the limitation, we first used random matrix theory with text mining for stock prediction. Wherever the dimension of data is large, the classical limit theorems are no longer suitable, because the statistical efficiency will be reduced. Therefore, a simple correlation analysis in the financial market does not mean the true correlation. To solve the issue, we adopt random matrix theory, which is mainly used in econophysics, to remove market-wide effects and random signals and find a true correlation between companies. With the true correlation, we perform cluster analysis to find relevant companies. Also, based on the clustering analysis, we used multiple kernel learning algorithm, which is an ensemble of support vector machine to incorporate the effects of the target firm and its relevant firms simultaneously. Each kernel was assigned to predict stock prices with features of financial news of the target firm and its relevant firms. The results of this study are as follows. The results of this paper are as follows. (1) Following the existing research flow, we confirmed that it is an effective way to forecast stock prices using news from relevant companies. (2) When looking for a relevant company, looking for it in the wrong way can lower AI prediction performance. (3) The proposed approach with random matrix theory shows better performance than previous studies if cluster analysis is performed based on the true correlation by removing market-wide effects and random signals. The contribution of this study is as follows. First, this study shows that random matrix theory, which is used mainly in economic physics, can be combined with artificial intelligence to produce good methodologies. This suggests that it is important not only to develop AI algorithms but also to adopt physics theory. This extends the existing research that presented the methodology by integrating artificial intelligence with complex system theory through transfer entropy. Second, this study stressed that finding the right companies in the stock market is an important issue. This suggests that it is not only important to study artificial intelligence algorithms, but how to theoretically adjust the input values. Third, we confirmed that firms classified as Global Industrial Classification Standard (GICS) might have low relevance and suggested it is necessary to theoretically define the relevance rather than simply finding it in the GICS.

An Empirical Measurement Way of Efficiency Prediction for Korean Seaports : SBM and Wilcoxson Signed-Rank Test Approach (항만의 효율성을 예측하기 위한 실증적 측정방법 - SBM과 윌콕슨부호순위검정접근 -)

  • Park, No-Gyeong
    • Journal of Korea Port Economic Association
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    • v.24 no.4
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    • pp.313-327
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    • 2008
  • The purpose of this paper is to show the empirical measurement way for predicting the seaport efficiency by using SBM with Wilcoxson signed-rank test under CRS(constant returns to scale) condition for 20 Korean ports during 1994-2003 for 2 inputs(birthing capacity, cargo handling capacity) and 3 outputs(Export and Import Quantity, Number of Ship Calls, Port Revenue). The main empirical results of this paper are as follows. First, forecasting data have well reflected the real data according to the Wilcoxon signed rank test, because p values have exceeded the 0.05 significance level. Second, SBM has shown the effectiveness for predicting the ports efficiency even though the predicting powers are different according to the levels of p values. The policy implication to the Korean seaports and planner is that Korean seaports should introduce the new methods like SBM method with Wilcoxon signed rank test for predicting the port performance and enhancing the efficiency.

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