Forward Freight Agreements and Market Transparency in the Capesize Sector

Theodore PELAGIDIS,George PANAGIOTOPOULOS 한국해운물류학회 2019 The Asian journal of shipping and Logistics Vol.35 No.3

We investigate the connection between the trading of Forward Freight Agreements (FFAs) and its microstructure effects in the volatility of the spot freight market in the Capesize dry-bulk sector of oceangoing vessels. Conditional volatility models are used to capture the volatility effects in the freight market. A connection with the trading of FFAs is established by using dummy variables, while additional factors that affect global economy and consequently the volatility in shipping markets, West Texas Intermediate, Brent oil and S&P500 Commodity Index, are incorporated into the model. The empirical results are divided into two processes. In the first process, we isolate the effect of the FFAs in the volatility of the spot rates in the physical market, indicating that FFAs led to a rise in the volatility in the physical market for the 4 Time Charter Average (4TC) and the routes C3 and C5, increase though limited. In the second process, we identify the effect of FFAs in the asymmetric response of negative shocks or information to the volatility in the physical market. A positive impact of the FFAs was identified in the 4TC, while in the three other voyage routes examined no impact was established. The results provide complementary insights to a specific shipping market segment not examined by current literature, while identifying and enhancing our understanding of the actual volatility impact of hedging instruments to the physical market.

A table of Two Constutionalism-Norwal and Mexico

Theodore Biagini 세계헌법학회한국학회 2005 世界憲法硏究 Vol.11 No.1

A great many men have imagined states and princedoms such as nobody ever saw or knew in the real world, and there’s such a difference between the way we really live and the way we ought to live that the man who neglects the real to study the ideal will learn how to accomplish his ruin, not his salvation.

High-Dose Hypofractionated Proton Beam Therapy for Small-Size Hepatocellular Carcinoma

( Theodore S. Hong ) 대한간학회 2017 춘·추계 학술대회 (KASL) Vol.2017 No.1

Charged particle therapy, including proton beam therapy and carbon ion therapy, has been assessed in both retrospective and prospective trials in primary hepatic malignancies. Unlike photon-based radiotherapy, which is absorbed exponentially in tissue, particle-based radiotherapy is characterized by rapid energy deposition at the end of range followed by sharp dose fall-off. These properties in turn enable delivery of increasing doses of radiotherapy to a given target while still minimizing dose received by surrounding normal parenchyma, making charged particle therapy a particularly intriguing treatment modality for both HCC and ICC. A retrospective comparison of proton and photon treatment plans found that proton therapy was associated with increased sparing of normal tissues, with lower mean hepatic doses, lower maximum spinal cord dose, and lower dose to the stomach. Generally, the benefit of proton beam therapy for HCC is restricted to larger tumors. While a study from Loma Linda shows that patients treated for HCC within Milan criteria (< 5 cm, or up to 3 tumors < 3 cm) enjoy an excellent overall survival, local control and outcomes for tumors smaller than 3 cm in size is already outstanding with SBRT or percutaneous ablation. In a planning study from the University of Pennsylvania comparing liver tumors treated with protons or photons, the benefit of protons appeared to be restricted to tumors > 3 cm in size or in specific locations. For these reasons, we do not uniformly recommend proton beam therapy for smaller tumors. Indeed, the current randomized phase III evaluation of protons vs. photons restricts patients with tumors over 4 cm in size.

FROM THE COPENHAGEN ACCORD TO THE PARIS AGREEMENT: REACHING CONCORD ON A SINGLE DOCUMENT

( Theodore Okonkwo ) 고려대학교 법학연구원 2017 Korea University Law Review Vol.21 No.-

The Accord de Paris, popularly known as the Paris Agreement, Paris Climate Accord or Paris Climate Agreement, which was concluded on December 12, 2013, marks the first accomplished climate action within the United Nations Framework Convention on Climate Change (UNFCCC) that has determined to deal with greenhouse gas emissions mitigation, adaptation and finance starting in the year 2020. This article appraises the Paris Agreement. First, it juxtaposes the Paris Agreement in the background of the 2009 Copenhagen Accord and the 2010 Cancun Agreements. The article then provides analytical standpoint and brief discussion of existing scholarly literature in the field. It addresses the United States withdrawal from the Agreement. Finally, it examines in detail the outcome and key features of the Agreement. The article concludes with a thought on the likely future and prospects of the Paris Agreement and whether the parties to the Accord possess the political will to tackle the climate change impacts.

Metlzer`s Paradox and the Optimum Tariff in a Monetary Economy

( Theodore Palivos ),( Chong K. Yip ),( Terence T. L. Chong ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 1998 Journal of Economic Integration Vol.13 No.2

We augment the standard two country, two-commodity and two-factor trade model by allowing for money to exist as an additional asset. We find that it is possible for an increase in the domestic tariff to worsen the terms of trade if the importable sector is severely distorted by the existence of money. Moreover, the Metzler condition is no longer both necessary and sufficient to rule out the Metzler paradox. Finally, we show that the conventional formula for the optimum tariff, derived in barter trade models, has a downward (upward) bias if money is more (less) efficacious in the importable sector. “In the real world there is no simple dividing line between trade and monetary issues.” Krugman and Obstfeld [1994], p. 8. (JEL Classification: F11, E40)

해석학으로의 모험: 눅 10:26과 예수와 함께한 성경읽기

( Theodore Irl Zimmerman ) 한국복음주의신학회 2012 성경과신학 Vol.61 No.-

본 논문은 지금까지의 신학계는 많은 경우 교회와 상관없이 신학을 진행해왔기에 신학계가 교회와 나눌 수 있고 또한 마땅히 주어야 하는 유익을 주지 못한 점과 관련하여 신학계가 교회에 어떤 유익을 줄 수 있는가를 다룬다. 특별히 이 주제를 위해 교회에서의 성경 이해에 있어 신학계의 해석학적 기여를 살펴보면서, 이를 위해 누가복음 10장 26절의 예수와 율법사의 대화를 분석한다. 이 분석을 통해 본 논문은, 첫째, 정황, 즉 읽기가 발생한 상황에 대한 이해의 중요성, 둘째 본문의 대화적 성격, 마지막으로 율법에 무엇이 기록되어 있는가에 대한 예수와 율법사의 일치와 불일치의 해석학의 중요성을 살피고 이와 더불어 해석학에 대한 설명을 통해 신학계가 교회에 유익을 줄 수 있음을 지적한다. 특별히 예수와 율법사의 율법 이해에 있어서의 큰 차이점인 예수의 읽기와 행함의 강조점이 사마리아 비유를 통해 드러나며, 이는 예수께서 성경 읽기와 일상생활과의 연결에 강조를 두셨음을 고려해 교회 내에서의 성경 읽기의 방식에 대한 대안을 제시한다. Recent theology has advanced regardless of church. Such a situation made a huge gap between theology and church. Relevant of this problem, the present article deals with what theology can contribute for church. For this theme, the present article focuses on what theology contributes for understanding of Bible of church in terms of interpretation. On the process, the present article analyses a conversation between Jesus and a law teacher in Lk 10:26. Through the analysis, the following three factors are revealed: (1) a context, i.e., a situation that a reading happened. (2) a characteristic of dialogue of the passage. (3) an interpretative importance of both agreement and disagreement of Jesus and the law teacher in explanation of a content of the law and a contribution to church of theological scholarship in interpretation. Especially, in relation to the third one, we find that a big difference of teaching between Jesus and the law teacher, i.e., Jesus` more emphasis on a close relationship between Bible reading and application, is found through the parable of a Samaritan woman. This difference shows that Jesus was deeply concerned about a relationship between Bible reading and daily life of Christians, and with this the theology can contribute to provide an alternative of Bible reading in church.

그리스도, 교회 그리고 성체성사

Theodore Stylianopoulos 대구가톨릭대학교 가톨릭사상연구소 1995 現代가톨릭思想 Vol.- No.12

The Illusion of Missile Defense

Theodore A. Postol,George N. Lewis 동아시아재단 2016 Global Asia Vol.11 No.3

Evidence from a Multidimensional Health Assessment Questionnaire (MDHAQ) of the Value of a Biopsychosocial Model to Complement a Traditional Biomedical Model in Care of Patients with Rheumatoid Arthritis

( Theodore Pincus ),( Jacquelin R Chua ),( Kathryn A Gibson ) 대한류마티스학회 2016 대한류마티스학회지 Vol.23 No.4

Patient self-report questionnaires such as a multidimensional health assessment questionnaire (MDHAQ) have advanced knowledge concerning prognosis, care, course and outcomes of rheumatoid arthritis (RA). The MDHAQ may overcome some limitations of a “biomedical model,” the dominant paradigm of contemporary medical services, including limitations of laboratory tests, radiographs, joint counts, and clinical trials, to predict and depict the long-term course and outcomes of RA. A complementary “biopsychosocial model” captures components of a patient medical history on patient questionnaires as quantitative, standard, “scientific” scores for physical function, pain, fatigue, and other problems, rather than as “subjective” narrative descriptions. A rationale for a biopsychosocial model in RA includes the importance of a patient history in diagnosis and management compared to biomarkers in many chronic diseases such as hypertension and diabetes. Some important observations which support a biopsychosocial model in RA based on patient questionnaires include that MDHAQ physical function scores are far more significant than radiographs or laboratory tests to predict severe RA outcomes such as work disability and premature death; patient self-report measures are more efficient than tender joint counts and laboratory tests to distinguish active from control treatments in RA clinical trials involving biological agents; and MDHAQ scores are more likely than laboratory tests to be abnormal at presentation and to document incomplete responses to methotrexate at initiation of biological agents. Patient questionnaires can save time for doctors and patients, and improve doctor-patient communication. A standardized database of MDHAQ scores consecutive patients over long periods might be considered by all rheumatologists in routine clinical care. (J Rheum Dis 2016;23:212-233)

A Tale of Two Constitutionalism-Norway and Mexico

Theodore Biagini 국제헌법학회 한국학회 2005 世界憲法硏究 Vol.11 No.1

A great many men have imagined states and princedoms such as nobody ever saw or knew in the real world, and there’s such a difference between the way we really live and the way we ought to live that the man who neglects the real to study the ideal will learn how to accomplish his ruin, not his salvation.