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The purpose of this study is to explore the essential cause for the policy failure of Trade Adjustment Assistance (TAA) in South Korea.

To substantiate the claims made for the failure of the policy, this paper focuses on the differences in policy preferences among the government ministries and agencies involved in TAA.

The failure in the TAA policy, according to this study, was attributed to the conflicts and miscoordination arising from the differences in policy preferences among government ministries and agencies. To rectify this failure, the South Korean government had to revise its laws and regulations several times over a short period.

Drawing on the analytical framework of the literature on policy failure, this paper examines the causal relationships between outcomes of TAA policy and the conflicts or miscoordination among government bodies at each stage: initiatives and planning, implementation and operation of the policy.

The Korean government has begun to implement the TAA system since May 2007 in order to support small and medium firms whose sales, production and profits have decreased due to the intensified import competition. This paper analyzes the performance of the Korean TAA program based on the experience for the last five years and aims to suggest some relevant policy implications out of it. We find that the newly introduced Korean TAA system failed to accomplish the objectives of the program it had originally planned. It also failed to be an effective means for internal negotiations. All the efforts to retain marginal firms in comparative disadvantage turned out to be a big failure. This poor performance will threaten the system’s own existence in the near future. Even if the TAA system continues to exist, it will inevitably be converted into a worker-centered program instead of a firm-oriented industrial policy. Protecting people by protecting their jobs could be a strategy mistake. With the launch of new government of Korea in 2013, curtailing or abolishing the financial assistance program for marginal firms needs to be implemented immediately. Moreover, consulting services need to be more professional and customized.

This policy analysis examines the key issues involved in the Korean Trade Adjustment Assistance (TAA) program. As an important trade policy platform, this research details how the TAA provision targets impacted businesses and employees and documents the program’s eligibility criteria and its evolution over time. The US TAA and EU EGAF programs are also reviewed by detailing their respective strengths and their differences from their Korean counterpart. Finally, we document a range of areas where the Korean TAA initiative needs to be improved in order to best assist the firms and employees that have been negatively impacted by trade liberalization policy.

The purpose of this paper is to consider the process of design and implementation of an enhanced fuzzy H_∞ (EFH_∞) estimation algorithm to determine the attitude and heading angles of ground vehicles, which are frequently affected by considerable exogenous disturbances. To detect the changes of disturbances, a fuzzy system is designed based on expert knowledge and experiences of a navigation engineer. In the EFH_∞ estimator, the intensity bounds of disturbances affecting the measurements are updated using a heuristic combination of three change‐detection indices. Performance of the proposed estimator is evaluated by Monte‐Carlo simulations and field tests of three kinds of vehicles using a manufactured attitude‐heading reference system (AHRS). In both simulations and real tests, the proposed estimator results in a superior performance compared to those of the recently developed and standard H_∞ estimators.

Design, implementation and real tests of the EFH_∞ estimator are considered for an AHRS specialized for vehicular applications. In the AHRS, three‐axis accelerometers (TAA) and three‐axis magnetometers (TAM) may be affected by large disturbances due to non‐gravitational accelerations and local magnetic fields. Therefore, the design parameters of EFH_∞ estimator including the theoretic bound of disturbance intensity and the attenuation level are adaptively tuned using a fuzzy combination of three change‐detection indices. Once a sensor is affected by an exogenous disturbance, the fuzzy system will increase the scale factor of the corresponding measurement disturbance to place more confidence on the data of the AHRS dynamics including measurements of gyros with respect to the data coming from the TAA and TAM.

An intelligent fault detector is proposed for considering changes of disturbances to adjust the upper bounds of the estimator's disturbances and the length of data to update the fuzzy system inputs. The EFH_∞ estimator is suitable to attenuate the effects of disturbances changes on accurate estimation of the attitude and heading angles, intelligently.

The paper provides a fuzzy state estimator for adaptively adjusting the theoretic disturbance matrices according to the actual intensity of the disturbances affecting the AHRS dynamics and the measurement sensors.

There were 398 bond referenda by Texas school districts from 1990-95. On average, these received a 58% voter approval rating and almost 75% of the referenda passed. A public choice model suggests many factors related to the voter percentage, including the amount of the bond issue per voter, percent of non-white population, and the amount of state and federal aid in the districts. Districts with Big Six auditors received higher voter percentages ceteris paribus, suggesting increased voter confidence in districts reviewed by brand name auditors. Districts with higher standardized test scores (TAAS) had more favorable votes, which can be interpreted that voters are willing to fund more infrastructure when output performance levels are adequate. A public choice model focusing on capital outlays was successful in explaining spending levels. A Big Six audit was associated with higher capital outlays, although TAAS was insignificant.

The purpose of this paper is to assess the current state of Korea’s internal negotiation system and the role of domestic policy factors in the process of Korea’s joining the mega FTAs such as Trans-Pacific Partnership (TPP).

Along with Putnam’s three determinants of win-set size, the authors analyze a new set of policy factors – including Trade Adjustment Assistance (TAA), the FTA Domestic Planning Division, and the Trade Procedure Act – to examine the institutional arrangements available for the ratification of the TPP in Korea.

To minimize the social cost of the internal negotiation process of the trade, better understanding of the role of domestic policy factors is essential. The paper proposes some important policy suggestions which will scale up the benefit of the trade.

The very same analysis can be easily extended to examine the domestic reactions for future FTA negotiation, especially for Mega FTA negotiation.

The authors propose six policy suggestions: a Master Process Manual; measures to diagnose domestic reactions; emphasizing non-economic issues; strengthening human resources; considering the strategic role of the Trade Procedure Act; and reshaping TAA, to ensure that a tranquil environment exists for domestic negotiation and confirmation and the authors believe these policies can be implemented widely in trade negotiations.

This paper contributes to the existing literature in at least three respects. First, the authors made the first attempt to integrate the domestic policy tools with the domestic determinants of trade negotiation outcomes. Second, the policy proposals can be extended to other countries’ cases with a minor adjustment. Finally, the analysis is based on the assumption that international trade negotiations are multi-level frameworks where domestic influences play a vital role in the aftermath of bilateral FTAs.

The purpose of this paper is to conceptualise a workable strategic asset allocation (SAA) model, given the data paucity problem, and involve an ex ante framework that is distributional free.

The SAA model is developed within a semi‐quantitative and expert‐based framework – the analytic hierarchy process (AHP) – and not a purely time‐series one. It is developed on the basis of consensus by a group of real estate investment experts, who agree on a fixed investment time horizon so that the time factor is disregarded as a variant. The SAA becomes the interface around which a set of tactical bands is imposed, subject to the Markowitz mean‐variance optimisation, and utilizing the total‐return data set of the Jones Lang LaSalle Real Estate Intelligence Service‐Asia. The lower and upper limits of the tactical bands represent the cyclical attractiveness of the various Asian office markets as growth and value‐added markets

The SAA‐AHP model robustly reflects expert judgement among a cohesive group of real estate investment experts, with regard to a Pan‐Asia office market portfolio of eight major Asian cities. Through pair‐wise comparisons and subject to consistency checks in terms of the consistency ratio of <0.10, then the comparative expert assessment of the macro‐economic and the real estate specific factors driving individual Asian real estate markets, would be consistent (i.e. non conflicting). Then the total weighted evaluations of individual markets are derived and deployed as the SAA portfolio mix. This portfolio mix thus becomes the appropriate interface, around which the tactical asset allocation (TAA) is developed within defined tactical bands. These bands must be in line with the underlying Asian real estate market analysis and their cyclical positions. The TAA is obtained through the Markowitz mean‐variance portfolio optimisation, with the objective of locating the optimally efficient TAA on the Markowitz efficient frontier, under a maximising risk‐adjusted‐return Sharpe ratio.

The SAA‐AHP model is reliant on an ex ante assessment of alternative asset allocation strategies on the basis of expert judgement of the macroeconomic environment and the Asian office markets. It is an appropriate SAA alternative to one based on the typical economic‐sized indicators, for example, the urban GDP.

Enterprise risk management has been defined as the strategy that aligns the firm's business with the risk factors of its environment in the pursuit of strategic objectives. Mathematical models will always be part of enterprise risk management. By means of a case study, we discuss why it is necessary to align a model with the organization in order to achieve the desired results. The structure of a model's input must fit with the structure of data collection in the firm, and the output must be consistent with the decision structure. Otherwise, data collection will not be properly taken care of and the results of a model will not find their way to where decisions are made.

This paper introduces a new heuristic algorithm that aims to solve the military route vulnerability problem, which involves assessing the vulnerability of military cargo flowing over roads and railways subject to enemy interdiction.

Graph theory, a heuristic and a binary integer program are used in this paper.

This work allows transportation analysts at the United States Transportation Command to identify a relatively small number of roads or railways that, if interdicted by an enemy, could disrupt the flow of military cargo within any theater of operation.

This research does not capture aspects of time, such as the reality that cargo requirements and enemy threats may fluctuate each day of the contingency.

This work provides military logistics planners and decision-makers with a vulnerability assessment of theater distribution routes, including insights into which specific roads and railways may require protection to ensure the successful delivery of cargo from ports of debarkation to final destinations.

This work merges network connectivity and flow characteristics with enemy threat assessments to identify militarily-useful roads and railways most vulnerable to enemy interdictions. A geographic combatant command recently used this specific research approach to support their request for rapid rail repair capability.

Although the modern portfolio theory (MPT) asset allocation framework can be adopted to enable decision making for international and direct real estate investing, and that many institutional investors adopt it to support their decision making, this framework can be enhanced to capture the multi‐causal factors influencing international and direct real estate investing. The purpose of this paper is to explain how a fuzzy decision‐making approach is a more intuitive, yet rigorous alternative in this regard.

This paper is concerned with the model formation and estimation of a unique fuzzy tactical asset allocation (FTAA), which in turn comprises the FTAA flexible programming model and the FTAA robust programming model.

Both these FTAA models enhance the classical, Markowitz MPT portfolio theory on asset allocation through making it more intuitively appropriate for decision making in international and direct real estate investing.

These two FTAA models achieve the benefits of intuitively greater risk diversification by city or real estate sector and enable effective risk management. These two short‐run fuzzy models would be accepted and more such models would emerge as an effective extension of quadratic programming optimization, as more computable software programs of this kind are widespread.

Fuzzy approaches to asset allocation in the short run, are limited by some drawbacks. Fuzzy models possess the common feature of converting the equality function under quadratic programming optimization into inequality functions. Such inequality optimization replaces the point solution of the MPT TAA optimization problem, obtained through the rigid intersection of all functions, via a generalized or intuitive answer over a defined space of alternatives. The product of the fuzzy process with fuzzy inputs, in the form of fuzzy outcome is in actual fact a more natural and intuitive approach to asset optimization.