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The 2008 Financial Crisis and Potential Output in Asia
Cyn-Young Park,Ruperto P. Majuca,Josef T. Yap 한국경제연구학회 2011 Korea and the World Economy Vol.12 No.2
Monitoring the behavior of potential output helps policymakers implement appropriate policies in response to an economic crisis. In the short-run, estimates of the output gap will guide the timing of implementation and withdrawal of stimulus measures. In the medium- to long-term, these estimates will also provide the basis for gauging productive potential and hence guide policies to support the sustainable non-inflationary output growth. In this paper, we investigate the post-crisis behavior of potential output in emerging East Asian economies, by employing the Markov-switching model to account for structural breaks. Results show that after the 1997/98 Asian financial crisis, potential output in Hong Kong, China; Korea; Singapore; and Malaysia reverts to the level consistent with the trend prior to the crisis. While there is a permanent drop in potential output in Thailand and Indonesia, growth rates returned to the pre-crisis trend. PRC, Taipei, China, and the Philippines are special cases. Econometric estimates of a simple growth model show that the difference among economies can be attributed to the investment-GDP ratio, macroeconomic policies, exchange rate behavior, and productivity which is proxied by the level of technological activity. These results can guide policy after the 2008 crisis.
Park, Cyn-Young,Petri, Peter A.,Plummer, Michael G. Korea Institute for International Economic Policy 2021 East Asian Economic Review Vol.25 No.3
The Regional Comprehensive Economic Partnership (RCEP) agreement, signed in November 2020, comes shortly after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) entered into force and the US-China Trade War escalated. We use a computable general equilibrium model to assess the long-term effects of these three developments on income, trade, economic structure, factor returns and employment across the world, and especially in Asia-Pacific countries. The results suggest that RCEP could generate income gains that will be almost twice as large as those of the CPTPP, and that the two agreements together will largely offset the substantial negative effects of the US-China Trade War for the world as a whole. All three policy developments, but especially RCEP, will deepen East Asian production networks and will raise productivity and increase wages and employment in much of East Asia. At the sectoral level, regional trade in non-durable and durable manufactures will experience the most growth.
신재공(Jaegong Cyn) 대한수면의학회 2021 수면·정신생리 Vol.28 No.2
Restless Legs Syndrome/Willis-Ekbom Disease (RLS/WED) is a sleep disorder characterized by sensorimotor symptoms such as unpleasant sensations before sleep, akathisia, and periodic limb movements during sleep. It is also closely related to hyper- arousal and is often accompanied by insomnia. Although the mechanism is not clear, the understanding of etiology and pathophysiology has greatly expanded through recent advances in genetic and neurobiological research. The most impor- tant pathophysiology of RLS/WED is brain iron deficiency. Such iron deficiency in the brain is caused by complex interac- tions between several genetic factors and various environmental factors, including comorbidities. Iron deficiency in the brain results in dysfunction of several neurotransmitters. A decrease in adenosine activity appears first, followed by an in- crease in the activity of glutamate and dopamine. A decrease in adenosine activity and an increase in glutamate activity stimulate the brain arousal system, resulting in hyperarousal. In addition, overproduction of dopamine and glutamate leads to dysfunction of the cortical-striatal-thalamic circuit, resulting in symptoms such as akathisia and periodic limb movements during sleep.
신재공,Cyn, Jaegong 대한수면의학회 2019 수면·정신생리 Vol.26 No.2
A lucid dream is defined as a dream during which a dreamer is aware that she/he is dreaming. The existence of lucid dream has long been known in the literature, but it hasn't been long before it has received attention in sleep medicine. Although many studies have been conducted since validation of the lucid dream in polysomnography by Steven LaBerge in the 1980s, the neuroscience of lucid dreams is still not fully understood. Here the neuroscientific literature on lucid dreaming, including electroencephalographic, neuroimaging, pharmacological and brain stimulation studies, are reviewed. Also this review gives an overview on how lucid dreams are used in clinical and nonclinical areas, ranging from nightmare therapy to research on consciousness and creative problem solving.
신재공,Cyn, Jaegong 대한수면의학회 2020 수면·정신생리 Vol.27 No.2
Napping is a natural and universal phenomenon. There are some differences depending on the age, but they are common throughout life. As research on naps in sleep medicine has recently increased, negative perceptions about naps are gradually decreasing with development of new and positive perspectives. First, naps relieve fatigue and sleepiness and increase arousal, improving cognitive abilities. Even in the process of memory consolidation, which allows retention of learned memory content, a period of short daytime sleep shows the same results as nocturnal sleep. In addition, evidence of the contribution of sleep to emotional regulation is increasing. The role of the nap has been extended recently to areas associated with immunity and pain. However, naps can disturb sleep at night. There are also concerns that habitual naps in old age are linked to cardiovascular risk and increased mortality. Various aspects and values of naps are being gradually unveiled. However, compared to that of night sleep, research on naps is insufficient, and more research on naps is required.
신재공,Cyn, Jae-Gong 대한수면의학회 2010 수면·정신생리 Vol.17 No.1
Obstructive sleep apnea is a common sleep disorder that predominantly affects adult men than women. However, the prevalence in women increases with menopause dramatically. Menopause has long been described as a risk factor for obstructive sleep apnea. Recent large well-designed population studies support that menopause increases the risk for sleep-disordered breathing. The mechanism of that hypothesis is not yet clear. But, the decline in progesterone has been thought to influence the development of obstructive sleep apnea because progesterone is a respiratory stimulant and plays a protective role against sleep apnea. Increased visceral obesity and hypertension as major symptoms of metabolic syndrome are also associated with menopause and place women at increased risk for obstructive sleep apnea and other serious health problem. Hormone replacement therapy has been associated with a lower prevalence of sleep apnea. But, relative risk and benefits of hormone replacement therapy compared with other treatment options will require thorough consideration for each individual woman. Finally, attention should be drawn to the need for obstructive sleep apnea evaluation in perimenopausal and postmenopausal women.
신재공,Cyn, Jae-Gong 대한수면의학회 2008 수면·정신생리 Vol.15 No.1
Periodic leg movements during sleep (PLMS) are best described as repetitive stereotypical movements of the lower extremities characterized by dorsiflexion of the ankle, dorsiflexion of the toes and a partial flexion of the knee and sometimes the hip. The prevalence of PLMS is about 5-11% in adults and is predicted much higher than previously surveyed. They are also frequently found in various sleep disorders, several disorders not primarily affecting sleep, and patients taking psychiatric medications. Although they are rarely found in children, they are common findings in children referred to a pediatric sleep laboratory. The pathophysiology is strongly associated with decline of central dopaminergic function and closely related to arousal system during sleep. Benzodiazepines, levodopa, dopamine agonists and opioids are generally recommended for treatment but more controlled studies on the effectiveness are needed.