A Study of Dynamic Relationship between Housing Values and Interest Rate in the Korean Housing Market

The goal of this study is to identify the long-term relationship between housing value and interest rate in the Korean housing market, using the Cointegration Test and Spectral Analysis. The result shows the long-term negative (-) equilibrium relationship between housing values and interest rate. Moreover, the Granger Causality Test for confirming the short-term dynamic relationship between these variables notes the one-way causality from interest rate to the change rate of housing and the transfer function model certifies concretely the causal structure of this relationship. The result of this study suggests that the interest rate adjustment policy in the Korean housing market can work very effectively and it will contribute to forecast the change of future housing values hereafter. Keywords: Dynamic relationship; Housing value; Interest rate; Cointegration and spectral analysis; Long term equilibrium

Next-to-leading Order Calculation of the Color-Octet 3S1 Gluon Fragmentation Function for Heavy Quarkonium

The short-distance coefficients for the color-octet 3S1 term in the fragmentation function for a gluon to split into heavy quarkonium states is calculated to order alpha_s^2. The gauge-invariant definition of the fragmentation function by Collins and Soper is employed. Ultraviolet divergences are removed using the MS-bar renormalization procedure. The longitudinal term in the fragmentation function agrees with a previous calculation by Beneke and Rothstein. The next-to-leading order correction to the transverse term disagrees with a previous calculation.Comment: 17 pages, 4 figure

Unified Supersymmetric Model of Naturally Small Dirac Neutrino Masses and the Axionic Solution of the Strong CP Problem

Using the particle content of the fundamental {27} supermultiplet of E_6, naturally small Dirac neutrino masses are obtained in the context of SU(3)_C times SU(2)_L times U(1)_Y times U(1)_{chi}, where U(1)_{chi} comes from the decomposition E_6 to SO(10) times U(1)_{psi}, then SO(10) to SU(5) times U(1)_{chi}. New observable consequences are predicted at the TeV scale. An axionic solution of the strong CP problem may be included at no extra cost.Comment: 10 pages, no figure, Eqs.(16)-(20) are correcte

Allowable Low-Energy E_6 Subgroups from Leptogenesis

There are only two viable low-energy $E_6$ subgroups: $SU(3)_C \times SU(2)_L \times U(1)_Y \times U(1)_N$ or $SU(3)_C \times SU(2)_L \times SU(2)'_R \times U(1)_{Y_L + Y'_R}$, which would not erase any preexisting lepton asymmetry of the Universe that may have been created by the decay of heavy singlet (right-handed) neutrinos or any other mechanism. They are also the two most favored $E_6$ subgroups from a recent analysis of present neutral-current data. We study details of the leptogenesis, as well as some salient experimental signatures of the two models.Comment: 12 page

Perturbative Prediction for Parton Fragmentation into Heavy Hadron

By expanding functions of parton fragmentation into a heavy hadron in the inverse of the heavy quark mass $m_Q$ we attempt to factorize them into perturbative- and nonperturbative parts. In our approach the nonperturbative parts can be defined as matrix elements in heavy quark effective theory, the shape of the functions is predicted by perturbative QCD. In this work we neglect effect at order of $m_Q^{-2}$ and calculate the perturbative parts at one-loop level for heavy quark- and gluon fragmentation. We compare our results from leading log approximation with experimental results from $e^+e^-$ colliders and find a deviation below or at 10% level. Adding effect of higher order in $\alpha_s$ it can be expected to reduce the deviation. The size of matrix elements appearing at the order we consider for several types of heavy hadrons is determined.Comment: 21 pages + 3 pages figures, plain te