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      • KCI등재

        한국의 통화정책 위험선호경로에 관한 실증분석

        최원형,윤용만 한국은행 2018 經濟分析 Vol.24 No.4

        This paper examines whether the risk-taking channel of monetary policy works in Korea. In order to empirically analyze, we use the panel data set which consists of data from financial statements of 17 Korean domestic banks and macro indicators such as interest rates and growth rate over the period from the first quarter of 2003 to the second quarter of 2015. The estimation results show that there is a consistent and significant inverse relationship between proxy variables of monetary policy stance and bank risk. This confirms that the risk-taking channel of monetary policy transmission exists in Korea. We find that the effect of monetary policy through the risk-taking channel is influenced by the number of consecutive quarters when the interest rate is below the benchmark interest rate and the level of nominal interest rate. The effect of an expansionary monetary policy on increasing bank’s risk-taking is alleviated as the period of relatively low interest rate is extended. And the effect of monetary policy on bank risk is smaller as the level of nominal interest rate is lower. It is also found that balance sheet channel and bank lending channel among other transmission channels of monetary policy could influence on bank risk. In terms of implications for monetary policy, empirical results suggest that the central bank should take the effect of monetary policy on bank risk-taking behavior into consideration ex-ante and also need to be more concerned with ex-post monitoring. 이 논문은 통화정책의 파급과 관련하여 우리나라에서의 위험선호경로 작동 여부를 살펴보았다. 이를 실증적으로 규명하기 위해 2003년 1분기 ~ 2015년 2분기 중 국내 17개 은행의 재무제표 자료 및 거시경제 관련 지표들로 패널자료를 구성하여 이용하였다. 분석 결과 통화정책 기조와 은행위험 간에 역(-)의 관계가 명확하게 나타남으로써 통화정책 효과의 파급에 있어 위험선호경로가 존재함을 확인하였다. 또한 동 경로를 통한 효과가 저금리 지속기간 및 명목금리 수준에 영향을 받는 점도 발견하였다. 저금리 지속기간과 관련해서는 은행의 위험선호를 상승시키는 확장적 통화정책의 영향은 저금리 기간이 길어질수록 그 효과가 완화되는 것으로 나타났다. 그리고 명목금리 수준에 따른 영향을 보면 명목금리가 낮아질수록 확장적 통화정책으로 인한 은행위험 상승 효과는 줄어드는 것으로 나타났다. 이와 함께 여타 통화정책 파급경로 중 대차대조표경로 및 대출경로를 통해서도 은행 위험이 유의하게 영향을 받는 것을 확인하였다. 이 논문은 우리나라의 위험선호경로에 관한 연구에 있어 국내 은행을 분석대상으로 하여 작동 여부를 밝힘과 아울러 저금리 지속기간의 영향 등 비선형효과를 확인하였고 자료의 장기패널 성격을 고려한 모형추정을 시도하였다는 점에서 의의를 찾을 수 있다. 이러한 분석 결과는 통화정책의 유효성 제고 및 금융부문의 안정성 확보 차원에서 여러 가지 시사점을 제공함은 물론 향후 동 분야에 관한 연구가 더욱 폭넓고 심도있게 진전되는 데 도움이 될 것으로 생각한다.

      • KCI등재후보
      • KCI등재

        Antibacterial effect of extracts of Hermetia illucens (Diptera: Stratiomyidae) larvae against Gram‐negative bacteria

        최원형,윤지혜,주종필,추기백 한국곤충학회 2012 Entomological Research Vol.42 No.5

        Larvae of the black soldier fly, Hermetia illucens are well‐known fly larvae that inhabit many countries around the world. Antimicrobial agents derived from the larvae may be among the substances that are produced in the body for their survival. This study was carried out to identify the antimicrobial effects of H. illucens larvae that commonly inhabit animal waste and food waste. To evaluate the pharmacological effects of H. illucens larvae extracts, the larvae were extracted by various organic solvents, and their antibacterial effects were determined by antimicrobial methods, such as agar disk diffusion and turbidometric assays. The methanol extracts (ME) indicated antibacterial effects against the proliferation of Klebsiella pneumoniae, Neisseria gonorrhoeae and Shigella sonnei. However, antibacterial effects were not induced in Gram‐positive bacteria such as Bacillus subtilis, Streptococcus mutans and Sarcina lutea. The bacterial growth treated with ME was strongly inhibited from 20 mg/mL in a dose‐dependent manner compared with other extracts, and antibacterial activity gradually decreased after 24 h. Moreover, the minimal inhibitory concentration (MIC) values of ME against Klebsiella pneumoniae, Neisseria gonorrhoeae and Shigella sonnei for 12 h were measured as 44.74 mg/mL, 43.98 mg/mL and 43.96 mg/mL, respectively. These results demonstrate that ME of H. illucens larvae not only has antibacterial activity which strongly inhibits the growth and proliferation of the bacteria but also unique properties which effectively block the viability of the bacteria.

      • KCI등재

        Novel antibacterial peptides induced by probiotics in Hermetia illucens (Diptera: Stratiomyidae) larvae

        최원형,최효직,구태원,Fu Shi Quan 한국곤충학회 2018 Entomological Research Vol.48 No.4

        There is a need to discover new therapeutic substances due to the emergence of deadly infectious diseases and various antibiotic resistance. We focused on the larvae that are utilized as a medical insect for the treatment of skin damage in Europe and America. This study was to investigate the pharmacological activities of novel antibacterial peptides isolated from Hermetia illucens larvae against the Klebsiella pneumoniae and Shigella dysenteriae. The larvae were immunized by probiotics (Lactobacillus casei) for 24 h. The hemolymph from the immunized larvae was fractionated through reverse‐phase chromatography. Peptides were purified using HPLC and the coomassie blue staining, and identified using Nano‐LC‐ESI‐MS/MS system. Antibacterial activities of the peptides were evaluated by turbidometric assay, liquid broth dilution assay, resazurin assay, and agar disk diffusion method. The minimum inhibitory concentrations (MICs) of the peptides were measured as 150 μg/mL through the turbidometric, liquid broth dilution, and resazurin assays. The peptides effectively inhibited their growth/proliferation as well as the survival rate of the tested bacteria. Furthermore, the immunized larvae exhibited overexpression of the peptides compared to non‐immunized larvae. These results demonstrate that the peptides induced by H. illucens exert strong antibacterial activity against Gram‐negative bacteria. The results suggest that the activation of the humoral immunity induced by immunization functioned to enhance the production of antibacterial peptides from the insect and their antibacterial properties. This study indicates the potential of the peptides produced from larvae as antibacterial peptide substance for the development of novel antibacterial drugs.

      • 貴金屬 Luster 開發에 關한 硏究

        최원형 경성대학교 1982 부산수산대학 논문집 Vol.3 No.1

        The present aim of work is to substitute a Korea make of Gold-luster for an imported talian article brand "HANOVIA" From a knowledge of the composition of an Italian Gold-luster by X-ray spectrometry, the preparation of Gold-luster similar to that was performed for the change in the composition of each component element, the selection of solvent, the effect of metal resinate addition, and the relations between a quantity of metal resinate addition and a firing Temperature. The result was that composition a synthesized Gold-luster with an Italian one showed comparatively satisfactory agreements. The point to be considered in the near future are an addition of rare elements and a drop in the firing point. It this is accomplished satisfactorily, the better result will be produced.

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