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Equilibrium Exchange Rates in Asian Currencies
Tsutomu Miyagawa,Hideki Toya,Tatsuji Makino 서울대학교 경제연구소 2004 Seoul journal of economics Vol.17 No.4
In this paper, we measured the equilibrium exchange rates (EER) for Asian currencies (baht. new Taiwan dollar. won. yen. and yuan) and the U.S. dollar. We compared the equilibrium exchange rates reflecting economic fundamentals with the actual exchange rate, and examined which factors affect the movement of equilibrium exchange rates. Our study shows that rapid increases of labor productivity in Korea and China have prevented an excessive depreciation of the won and yuan. When we take multilateral trade into account, the effective exchange rate of the yen was undervalued compared with the effective equilibrium exchange rate in 2000.
Hiroki Goto,Hisao Makino,Agus Setiawan,Takuma Suzuki,Chihiro Harada,Tsutomu Minegishi,Meoung-Whan Cho,Takafumi Yao 한국물리학회 2004 Current Applied Physics Vol.4 No.6
Optical properties of ZnO thin lms with/without MgO-buer annealing were investigated by low and room temperature photoluminescence measurements. The ZnO lms were grown onc-sapphire substrates by plasma-assisted molecular-beam epitaxy employing a thin MgO-buer layer. Dislocation density of ZnO layer was reduced from 5.3· 109 to 1.9· 109 cm. 2 by annealingMgO-buer prior to the growth of ZnO. The intensity of free exciton emission from the sample with MgO-buer annealing wasalmost twice of that from the sample without annealing, while the deep level emission from the sample with MgO-buer annealingwas about 1/3 of that without annealing. The MgO-buer annealing improves optical quality of overgrown ZnO lms.