• International Area Studies Review
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• v.15 no.3
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• pp.191-213
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• 2011

This study empirically examines whether income smoothing effectively contributes to consumption smoothing. Since international factor movement plays an important role for income smoothing across countries, net factor income across countries deserves more attention in considering income smoothing than attention having been paid by previous studies in the literature. Most of previous studies assume that net factor income has the same degree of effects on consumption as GDP. For the case of 12 EU countries during the period from 1999 to 2010, our empirical investigation observes that the response of consumption with respect to net factor income is severely lower than the response of consumption with respect to GDP, and further net factor income has ignorable effects on the consumption. This evidence implies that the income smoothing via international factor movement is less significant in contributing to the consumption smoothing. In the sequel, our finding suggests that legal and institutional process for transferring net factor income across countries should be eased further to improve contribution of income smoothing to consumption smoothing.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.42 no.1
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• pp.129-136
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• 2019

In this study, we proposed a model for forecasting power energy demand by investigating how outside temperature at a given time affected power consumption and. To this end, we analyzed the time series of power consumption in terms of the power spectrum and found the periodicities of one day and one week. With these periodicities, we investigated two time series of temperature and power consumption, and found, for a given hour, an approximate linear relation between temperature and power consumption. We adopted an exponential smoothing model to examine the effect of the linearity in forecasting the power demand. In particular, we adjusted the exponential smoothing model by using the variation of power consumption due to temperature change. In this way, the proposed model became a mixture of a time series model and a regression model. We demonstrated that the adjusted model outperformed the exponential smoothing model alone in terms of the mean relative percentage error and the root mean square error in the range of 3%~8% and 4kWh~27kWh, respectively. The results of this study can be used to the energy management system in terms of the effective control of the cross usage of the electric energy together with the outside temperature.

• Korean Journal of Organic Agriculture
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• v.30 no.2
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• pp.231-239
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• 2022

The purpose of this study is to provide meaningful information for various stakeholders' decision-making process through forecasting of domestic beef demand. Three different exponential smoothing models were evaluated, and a double exponential smoothing model was used to forecast domestic beef demand based on time-series data, As a result of the forecast, domestic beef consumption is expected to increase by 37,000 to 40,000 tons per year from 2020 to 2025.

• Journal of the Institute of Electronics Engineers of Korea CI
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• v.45 no.1
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• pp.78-85
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• 2008

Most researches for power management have focused on increasing the utilization of system performance by scaling operating frequency or operating voltage. If operating frequency is changed frequently, it reduces the real system performance. To reduce power consumption, alternative approaches use the limited number of operating frequencies or set the smoothing frequencies during execution to increase the system performance, but they are not suitable for real time applications. To reduce power consumption and increase system performance for real time applications, this paper proposes a new power-aware schedule method by allocating operating frequencies and by setting smoothing frequencies. The algorithm predicts so that frequencies with continuous interval are mapped into discrete operating frequencies. The frequency smoothing reduces overheads of systems caused by changing operating frequencies frequently as well as power consumption caused by the frequency mismatch at a wide frequency interval. The simulation results show that the proposed algorithm reduces the power consumption up to 40% at maximum and 15% on average compared to the CC RT-DVS.

• Journal of Korean Institute of Industrial Engineers
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• v.34 no.1
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• pp.1-12
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• 2008

The Kanban system in Just-In-Time (JIT) production is very effective in reducing the inventories when consumption rate of the final product is relatively stable. When large fluctuations exist in the consumption rate, a new production ordering policy in which the production order quantity is determined by smoothing the demands exponentially is more suitable. This new ordering policy has not been investigated sufficiently. In this research, a multi-stage production and inventory system with stock points for materials and finished items located at each stage is considered. Approximations of average inventories at each stage in the system are derived theoretically. Numerical simulations are carried out to assess the accuracy of approximations and to evaluate the effectiveness of the new ordering policy as compared with the Kanban system. As a result, it is shown that the new ordering policy can achieve significantly lower inventory costs than the original Kanban system. The new ordering policy thus emerges as a key concept for an effective supply chain management.

• IEMEK Journal of Embedded Systems and Applications
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• v.9 no.3
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• pp.137-143
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• 2014

Demand Controller is a load control device that monitor the current power consumption and calculate the forecast power to not exceed the power set by consumer. Accurate demand forecasting is important because of controlling the load use the way that sound a warning and then blocking the load when if forecasted demand exceed the power set by consumer. When if consumer with fluctuating power consumption use the existing forecasting method, management of demand control has the disadvantage of not stable. In this paper, load forecasting of the unit of seconds using the Exponential Smoothing Methods, ARIMA model, Kalman Filter is proposed. Also simulation of load forecasting of the unit of the seconds methods and existing forecasting methods is performed and analyzed the accuracy. As a result of simulation, the accuracy of load forecasting methods in seconds is higher.

• Journal of Labour Economics
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• v.27 no.1
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• pp.77-105
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• 2004

Given the limitations of UI benefit and self-insurance through precautionary savings, this paper suggests a new scheme of income support for the unemployed, which offers unemployed workers not only UI benefit but also borrowings from their future pension incomes. Allowing individuals to have effective self-insurance through pension- borrowing, this scheme provides them with consumption-smoothing and reduction in risk burden while maintaining search incentives of the unemployed. Simulation study based upon household panel data in Korea suggests that a heavy reliance should be set upon self-insurance through pension-borrowings rather than upon UI benefit, even for the low-income individuals who are subsidized under UI system. This result provides us with insightful implications for a social safety net in (fast-growing) developing countries, where people cannot afford a good amount of UI benefit or of precautionary savings against unemployment although they expect their incomes to be much higher in the future. Indeed, it is consumption-smoothing effect of self-insurance through pension- borrowings, as well as its incentive-maintaining effect, that makes it a promising alternative of social safety net in developing countries.

• Journal of Korea Multimedia Society
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• v.11 no.5
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• pp.641-650
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• 2008

As portable devices are used widely, power management algorithm is essential to extend battery use time on small-sized battery power. Although many methods have been proposed, they assumed the voltage transition overhead was negligible or was considered partially. However, the voltage transition overhead might not guarantee to schedule real-time tasks in portable multimedia systems. This paper proposes the adaptive power-aware algorithm to minimize the power consumption by considering the voltage transition overhead. It selects only a few discrete frequencies from the whole frequencies of a system and adjusts the interval between two consecutive frequencies based on the system utilization to reduce the number of frequency change. This algorithm saves the power consumption about 10 to 25 percent compared to a CC RT-DVS method and a frequency-smoothing method.

• Journal of Labour Economics
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• v.37 no.1
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• pp.29-57
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• 2014

Using unemployment insurance and income-contingent loan (ICL) that conditions repayment by debtors upon their incomes this paper characterizes an efficient income support system for the unemployed, which maximizes their lifetime utilities by effectively enhancing inter-state and inter-temporal consumption-smoothing subject to incentive constraints on the part of the beneficiaries. This paper also emphasizes the generality of the argument for a mix of ICL and subsidy that may be applied potentially to many types of government welfare program.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.4
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• pp.51-60
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• 2017

India is the top recipient of workers' remittance flows; recent data indicate that the Remittances/GDP ratio has increased from 2.7% in 2000 to 3.36% in 2015. We apply a consumption behavior model, based on the "permanent income hypothesis", to estimate the consumption augmentation and the stability impact for the period of 1989-2014. The independent variables are: (i) real per capita income (exclusive of remittances) is the measure of "permanent income", (ii) remittances is the measure of "transitory income", and (iii) real interest rate as the indicator of consumers' ability for intertemporal consumption. The economic ramifications are important since current global risk factors could decrease flows in the future. The results indicate the significance of all three variables; there are: (i) evidence of significant consumption augmentation, (ii) consumption responds higher to remittances than to real income, the remittance elasticity is 0.571 and the income elasticity is 0.31, and (iii) evidence of pro-cyclical effect. The VAR model indicates some linkages and causality in the series that result in small response to the shocks. Policies to increase or stabilize remittance flows and to leverage remittances for economic development are important.