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THE FOREIGN EXCHANGE RATE UNDER RATIONAL EXPECTATION (이성적(理性的) 기대하(期待下)의 환율행태분석(換率行態分析))

  • Yu, Il-Seong
    • The Korean Journal of Financial Management
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    • v.6 no.1
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    • pp.31-62
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    • 1989
  • By using deterministic dynamic models, we observe the behavior of the foreign exchange rate of a small open economy with rational expectation formation and different restrictions on the international economic integrations. First, an economy connected to the world by purchasing power parity and uncovered interest parity is studied in the next section. In both sections, financial assets available in the economy are domestic money and bonds. Stocks are added as a financial instrument in the next section, and real capital accumulation is also taken into account. Furthermore, the economy concerned there is fairly autonomous, and not directly governed by either purchasing power parity or uncovered interest parity. The expectation formation used throughout the whole paper is complete perfect foresight, which is the certainty version of rational expectation and free from any forecast errors. It is found that upon monetary expansion the short run depreciation of the foreign exchange rate is a fairly robust result regardless of the degree of the international economic integration, while it is not true for fiscal expansion. The expectation on the long run state significantly affects the short run response of the exchange rate. All of our models postulate that the current account should be balanced eventually. As the result, the short run behavior of the exchange rate is affected by the expectation on the long run balance and may well be a blend of the traditional flow view and modem asset view. The initial overshooting of the exchange rate is easily observed even in the fairly autonomous economy Furthermore, the initial overshooting is not reduced over time, but augmented for some time before it is eventually eliminated. As long as we maintain rational expectaion, introducing time delay in the adjustment of the foreign goods price to the foreign exchange rate does not make much difference.

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Reaction Gas Composition Dependence on the Properties of SnO2 Films on PET Substrate by ECR-MOCVD (반응가스조성이 PET기판위에 ECR 화학증착법에 의해 제조된 SnO2 박막특성에 미치는 영향)

  • Kim, Yun-Seok;Lee, Joong-Kee
    • Journal of the Korean Electrochemical Society
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    • v.8 no.3
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    • pp.139-145
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    • 2005
  • [ $SnO_x$ ] films on the flexible substrate of PET film were prepared at ambient temperature under a $(CH_3)_4Sn(TMT: tetra-methyl tin)-H_2-O_2$ atmosphere in order to obtain transparent conductive polymer by using ECR-MOCVD(Electro Cyclotron Resonance Metal Organic Chemical Yfpor Deposition) system. The prepared $SnO_x$ thin films show generally over $90\%$ of optical transmittance at wavelength range of 380-780nm and about $1\times10^{-2\~3}ohm{\cdot}cm$ of electrical resistivity. In the present study, effects of $O_2/TMT\;and\;H_2/TMT$ mole ratio on the properties of $SnO_x$ films are investigated and the other process parameters such as microwave power, magnetic current power, substrate distance and working pressure are fixed. Based on our experimental results, the $SnO_x$ film composition ratio of Sn and O directly influences on the electrical and optical properties of the films prepared. The $SnO_x$ film with low electric resistivity and high transmittance could be obtained by controlling the process parameters such as $O_2/TMT\;and\;H_2/TMT$ mole ratio, which play an important role to change the composition ratio between Sn and O. An increase of $O_2/TMT$ mole ratio brought on the increases 0 content in the $SnO_x$ film. On the other hand, an increase of $H_2/TMT$ mole ratio lead to decreases the oxygen content in the film. The optimized composition ratio of oxygen : tin Is determined as 2.4: 1 at $O_2/TMT$ of 80 and $H_2/TMT$ of 40 mole ratio, respectively.

A Smoothing Data Cleaning based on Adaptive Window Sliding for Intelligent RFID Middleware Systems (지능적인 RFID 미들웨어 시스템을 위한 적응형 윈도우 슬라이딩 기반의 유연한 데이터 정제)

  • Shin, DongCheon;Oh, Dongok;Ryu, SeungWan;Park, Seikwon
    • Journal of Intelligence and Information Systems
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    • v.20 no.3
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    • pp.1-18
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    • 2014
  • Over the past years RFID/SN has been an elementary technology in a diversity of applications for the ubiquitous environments, especially for Internet of Things. However, one of obstacles for widespread deployment of RFID technology is the inherent unreliability of the RFID data streams by tag readers. In particular, the problem of false readings such as lost readings and mistaken readings needs to be treated by RFID middleware systems because false readings ultimately degrade the quality of application services due to the dirty data delivered by middleware systems. As a result, for the higher quality of services, an RFID middleware system is responsible for intelligently dealing with false readings for the delivery of clean data to the applications in accordance with the tag reading environment. One of popular techniques used to compensate false readings is a sliding window filter. In a sliding window scheme, it is evident that determining optimal window size intelligently is a nontrivial important task in RFID middleware systems in order to reduce false readings, especially in mobile environments. In this paper, for the purpose of reducing false readings by intelligent window adaption, we propose a new adaptive RFID data cleaning scheme based on window sliding for a single tag. Unlike previous works based on a binomial sampling model, we introduce the weight averaging. Our insight starts from the need to differentiate the past readings and the current readings, since the more recent readings may indicate the more accurate tag transitions. Owing to weight averaging, our scheme is expected to dynamically adapt the window size in an efficient manner even for non-homogeneous reading patterns in mobile environments. In addition, we analyze reading patterns in the window and effects of decreased window so that a more accurate and efficient decision on window adaption can be made. With our scheme, we can expect to obtain the ultimate goal that RFID middleware systems can provide applications with more clean data so that they can ensure high quality of intended services.

COLOR DIFFERENCES BETWEEN RESIN COMPOSITES BEFORE- AND AFTER-POLYMERIZATION, AND SHADE GUIDES (복합레진의 광중합 전·후와 shade guide의 색차 비교)

  • Chon, Yi-Ju;Cho, Sung-Shik;Um, Chung-Moon
    • Restorative Dentistry and Endodontics
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    • v.24 no.2
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    • pp.299-309
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    • 1999
  • The composite resin, due to its esthetic qualities, is considered the material of choice for restoration of anterior teeth. With respect to shade control, the direct-placement resin composites offer some distinct advantages over indirect restorative procedures. Visible-light-cured (VLC) composites allow dentists to match existing tooth shades or to create new shades and to evaluate them immediately at the time of restoration placement. Optimal intraoral color control can be achieved if optical changes occurring during application are minimized. An ideal VLC composite, then, would be one which is optically stable throughout the polymerization process. The shade guides of the resin composites are generally made of plastic, rather than the actual composite material, and do not accurately depict the true shade, translucency, or opacity of the resin composite after polymerization. So the numerous problems associated with these shade guides lead to varied and sometimes unpredictable results. The aim of this study was to assess the color changes of current resin composite restorative materials which occur as a result of the polymerization process and to compare the color differences between the shade guides provided with the products and the actual resin composites before- and after-polymerization. The results obtained from this investigation should provide the clinician with information which may aid in improved color match of esthetic restoration. Five light activated, resin-based materials (${\AE}$litefil, Amelogen Universal, Spectrum TPH VeridonFil-Photo, and Z100) and shade guides were used in this study. Three specimens of each material and shade combination were made. Each material was condensed inside a 1.5mm thick metal mold with 10mm diameter and pressed between glass plates. Each material was measured immediately before polymerization, and polymerized with Curing Light XL 3000 (3M Dental products, USA) visible light-activation unit for 60 seconds at each side. The specimens were then polished sequentially on wet sandpaper. Shade guides were ground with polishing stones and rubber points (Shofu) to a thickness of approximately 1.5mm. Color characteristics were performed with a spectrophotometer (CM-3500d, Minolta Co., LTD). A computer-controlled spectrophotometer was used to determine CIELAB coordinates ($L^*$, $a^*$ and $b^*$) of each specimen and shade guide. The CIELAB measurements made it possible to evaluate the amount of the color difference values (${\Delta}E{^*}ab$) of resin composites before the polymerization process and shade guides using the post-polishing color of the composite as a control, CIE standard D65 was used as the light source. The results were as follows. 1. Each of the resin composites evaluated showed significant color changes during light-curing process. All the resin composites evaluated except all the tested shades of 2100 showed unacceptable level of color changes (${\Delta}E{^*}ab$ greater than 3.3) between pre-polymerization and post-polishing state. 2. Color differences between most of the resin composites tested and their corresponding shade guides were acceptable but those between C2 shade of ${\AE}$litefil and IE shade of Amelogen Universal and their respective shade guides exceeded what is acceptable. 3. Comparison of the mean ${\Delta}E{^*}ab$ values of materials revealed that Z100 showed the least overall color change between pre-polymerization and post-polishing state followed by ${\AE}$litefil, VeridonFil-Photo, Spectrum TPH, and Amelogen Universal in the order of increasing change and Amelogen Universal. Spectrum TPH, 2100, VeridonFil-Photo and ${\AE}$litefil for the color differences between actual resin and shade guide. 4. In the clinical environment, the shade guide is the better choice than the shade of the actual resin before polymerization when matching colors. But, it is recommended that custom shade guides be made from resin material itself for better color matching.

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An historical analysis on the carbon lock-in of Korean electricity industry (한국 전력산업의 탄소고착에 대한 역사적 분석)

  • Chae, Yeoungjin;Roh, Keonki;Park, Jung-Gu
    • Journal of Energy Engineering
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    • v.23 no.2
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    • pp.125-148
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    • 2014
  • This paper performs a historical analysis on the various factors contributing to the current carbon lock-in of Korean electricity industry by using techo-institutional complex. The possibilities of the industry's carbon lock-out toward more sustainable development are also investigated. It turns out that market, firm, consumer, and government factors are all responsible for the development of the carbon lock-in of Korean power industry; the Korean government consistently favoring large power plants based on the economy of scale; below-cost electricity tariff; inflation policy to suppress increases in power price; rapid demand growth in summer and winter seasons; rigidities of electricity tariff; and expansion of gas-fired and imported coal-fired large power plants. On the other hand, except for nuclear power generation and smart grid, environment laws and new and renewable energy laws are the other remaining factors contributing to the carbon lock-out. Considering three key points that Korea is an export-oriented economy, the generation mix is the most critical factor to decide the amounts of carbon emission in the power industry, and the share of industry and commercial power consumption is over 85%, it is unlikely that Korea will achieve the carbon lock-out of power industry in the near future. Therefore, there are needs for more integrated approaches from market, firm, consumer, and government all together in order to achieve the carbon lock-out in the electricity industry. Firstly, from the market perspective, it is necessary to persue more active new and renewable energy penetration and to guarantee consumer choices by mitigating the incumbent's monopoly power as in the OECD countries. Secondly, from the firm perspective, the promotion of distributed energy system is urgent, which includes new and renewable resources and demand resources. Thirdly, from the consumer perspective, more green choices in the power tariff and customer awareness on the carbon lock-out are needed. Lastly, the government shall urgently improve power planning frameworks to include the various externalities that were not properly reflected in the past such as environmental and social conflict costs.

Effect of Organic Matter and Moisture Content on Reduction of Cr(VI) in Soils by Zerovalent Iron (영가철에 의한 토양 Cr(VI) 환원에 미치는 유기물 및 수분함량 영향)

  • Yang, Jae-E.;Lee, Su-Jae;Kim, Dong-Kuk;Oh, Sang-Eun;Yoon, Sung-Hwan;Ok, Yong-Sik
    • Korean Journal of Environmental Agriculture
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    • v.27 no.1
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    • pp.60-65
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    • 2008
  • Current soil remediation principles for toxic metals have some limitations even though they vary with different technologies. An alternative technology that transforms hazardous substances into nonhazardous ones would be environmentally beneficial. Objective of this research was to assess optimum conditions for Cr(VI) reduction in soils as influenced by ZVI(Zero-Valent Iron), organic matter and moisture content. The reduction ratio of Cr(VI) was increased from 37 to 40% as organic matter content increased from 1.07 to 1.75%. In addition, Cr(VI) concentration was reduced as soil moisture content increased, but the direct effect of soil moisture content on Cr(VI) reduction was less than 5% of the Cr(VI) reduction ratio. However, combined treatment of ZVI(5%), organic matter(1.75%) and soil moisture(30%) effectively reduced the initial Cr(VI) to over 95% within 5 days and nearly 100% after 30 days by increasing oxidation of ZVI and concurrent reduction of Cr(VI) to Cr(III). The overall results demonstrated that ZVI was effective in remediating Cr(VI) contaminated soils, and the efficiency was synergistic with the combined treatments of soil moisture and organic matter.

A Study on the Archival Basis of History by Simaqian and Herodotus (『사기』와 『역사』에 담긴 기록학의 기초 역사-인간[Homo Historicus], 사마천과 헤로도토스)

  • Oh, Hang Nyeong
    • The Korean Journal of Archival Studies
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    • no.65
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    • pp.365-396
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    • 2020
  • I examined the archival basis of two historians who wrote history books with the same title of 'History'; Simaqian of ancient China and Herodotus of Halikarnassos. I examined a prejudice to these two history books, a misunderstanding of them as an imagination rather than a history. How can an imagination become a history? First, I explained the common characteristics found in their compilation and writing of 'History.' Simaqian and Herodotus did their field-works in historical sites, gathered oral-histories, and arranged archives they collected. These two historians heavily engaged in archival works in terms of verifying authenticity and reliability of their sources on the basis of historical empiricism. There are some misunderstanding on their archival endeavor and on the very nature of archives and historical studies as empirical studies. Furthermore, this misunderstanding regarding them as literature came from a confusion over the concept of literature. The creativity of literature is not equal to the "fictitiousness" of history despite historical works sometimes may give us an impression by the way of describing and providing insight into a certain event(s) and a person(s). As Herodotus said, a recognition of the differences of each race and human is a departure of historical archiving of the valuable experiences of human-beings. By doing so, natural results of archival behaviors, preservation of the records, and consistent inquiry of historian-archivists become a humanistic passage overcoming the current wrong trends of historical studies confined to a narrow nation-history.

Influence of Accumulated Hours of Low Temperature in Dormant and Changing Temperature after Bud Breaking on Flowering of Main Apple Cultivars in Korea (휴면기 저온 누적 시간 및 발아 후 변온이 국내 주요 사과품종의 개화에 미치는 영향)

  • Kweon, Hun-Joong;Park, Moo-Yong;Song, Yang-Yik;Sagong, Dong-Hoon
    • Korean Journal of Agricultural and Forest Meteorology
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    • v.19 no.4
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    • pp.252-269
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    • 2017
  • This study was carried out to examine the base temperature to flowering and the average days to flowering by accumulated hours of low temperature ($5.0^{\circ}C$) or changing temperature after bud breaking. Over-all, the prediction of flowering time in the commercial apple cultivars ('Fuji' and 'Tsugaru') and apple cultivars ('Chukwang', 'Gamhong', 'Hongan', 'Honggeum', 'Hongro', 'Hongso', 'Hwahong', 'Summer dream', 'Sunhong') bred in Korea at the Gunwi region for 4 years (from 2009 to 2012) was investigated. Also, this study estimated the flowering time when the air temperature of Gunwi region rises at $5.0^{\circ}C$ was investigated using the same data. The range of accumulated hours of low temperature (chilling requirement) was from 0 hour to 1,671 hours, and the range of high temperature (heat requirements) to flowering after low temperature treatment was from $5.0^{\circ}C$ to $29.0^{\circ}C$. The treatments of changing temperature after bud breaking were classified as constant temperature treatment (control) and $5.0{\sim}10.0^{\circ}C$ elevation or descent treatments. The results show that the average days to flowering was longer with shorter accumulated hours of low temperature, and the average days from bud breaking to flowering of 0 hour treatment was longer about 2~4 weeks than that of 1,335~1,503 hours treatments. In comparing to apple cultivars, the all cultivars were not flowered under $10.0^{\circ}C$ after bud breaking, and the cultivars with low chilling requirements needed low heat requirements for flowering. The average days to flowering of treatments that the air temperature after bud breaking was controlled about $15.0^{\circ}C$ was shorter about 1~3 weeks than that of treatments was controlled about $10.0^{\circ}C$. In the treatment of changing temperature after bud breaking, the average days from bud breaking to flowering of temperature elevation treatment was shorter than that of constant temperature treatment. By use of these results, the base temperature to flowering of main apple cultivars in Korea was seemed to $10.0^{\circ}C$, and if the air temperature of Gunwi region rises about $5.0^{\circ}C$ than that of current, the flowering time was estimated to be delayed by 1 week.

Analysis of Annual Variability of Landfast Sea Ice near Jangbogo Antarctic Station Using InSAR Coherence Images (InSAR 긴밀도 영상을 이용한 남극 장보고기지 인근 정착해빙의 연간 변화 분석)

  • Han, Hyangsun;Kim, Yeonchun;Jin, Hyorim;Lee, Hoonyol
    • Korean Journal of Remote Sensing
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    • v.31 no.6
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    • pp.501-512
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    • 2015
  • Landfast sea ice (LFI) in Terra Nova Bay, East Antarctica where the Jangbogo Antarctic Research Station is located, has significant influences on marine ecosystem and the sailing of an icebreaker. Therefore, it is essential to analyze the spatio-temporal variation of the LFI in Terra Nova Bay. In this study, we chose interferometric pairs with the temporal baseline from 1 to 9 days out of a total of 62 COSMO-SkyMed synthetic aperture radar (SAR) images over Terra Nova Bay obtained from December 2010 to January 2012, and then constructed the coherence image of each pair. The LFI showed coherence values higher than 0.3 even in the interferometric SAR (InSAR) pairs of up to 9-days of temporal baseline. This was because the LFI was fixed at coastline and thus showed low temporal phase decorrelation. Based on the characteristics of the coherence on LFI, We defined the areas of LFI that show spatially homogeneous coherence values higher than 0.5. Pack ice (PI) and open water showed low coherence values due to large temporal phase decorreation caused by current and wind. Distinguishing PI from open water in the coherence images was difficult due to their similarly low coherence values. PI was identified in SAR amplitude images by investigating cracks on the ice. The extents of the LFI and PI were estimated from the coherence and SAR amplitude images and their temporal variations were analyzed. The extent of the LFI increased from March to July (maximum extent of $170.7km^2$) and decreased from October. The extent of the PI increased from February to May and decreased from May to July when the LFI increases dramatically. The extent of the LFI and air temperature showed an inverse correlation with a time lag of about 2 months, i.e., the extent of the LFI decreases after 2 months of the increase in the air temperature. Meanwhile the correlation between wind speed and the extent of the LFI was very low. This represents that the extent of LFI in Terra Nova Bay are influenced more by the air temperature than wind speed.

A Integrated Model of Land/Transportation System

  • 이상용
    • Proceedings of the KOR-KST Conference
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    • 1995.12a
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    • pp.45-73
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    • 1995
  • The current paper presents a system dynamics model which can generate the land use anq transportation system performance simultaneously is proposed. The model system consists of 7 submodels (population, migration of population, household, job growth-employment-land availability, housing development, travel demand, and traffic congestion level), and each of them is designed based on the causality functions and feedback loop structure between a large number of physical, socio-economic, and policy variables. The important advantages of the system dynamics model are as follows. First, the model can address the complex interactions between land use and transportation system performance dynamically. Therefore, it can be an effective tool for evaluating the time-by-time effect of a policy over time horizons. Secondly, the system dynamics model is not relied on the assumption of equilibrium state of urban systems as in conventional models since it determines the state of model components directly through dynamic system simulation. Thirdly, the system dynamics model is very flexible in reflecting new features, such as a policy, a new phenomenon which has not existed in the past, a special event, or a useful concept from other methodology, since it consists of a lots of separated equations. In Chapter I, II, and III, overall approach and structure of the model system are discussed with causal-loop diagrams and major equations. In Chapter V _, the performance of the developed model is applied to the analysis of the impact of highway capacity expansion on land use for the area of Montgomery County, MD. The year-by-year impacts of highway capacity expansion on congestion level and land use are analyzed with some possible scenarios for the highway capacity expansion. This is a first comprehensive attempt to use dynamic system simulation modeling in simultaneous treatment of land use and transportation system interactions. The model structure is not very elaborate mainly due to the problem of the availability of behavioral data, but the model performance results indicate that the proposed approach can be a promising one in dealing comprehensively with complicated urban land use/transportation system.

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