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http://dx.doi.org/10.9719/EEG.2014.47.3.237

A Study on Estimation of Economic Effects on Mining Products Import Substitution Using Macroeconometric Input-Output Model  

Kim, Ji-Whan (Mineral Resources Research Division, Korea Institute of Geoscience and Mineral Resources(KIGAM))
Lee, Kyung-Han (Korea Mining Industry Association)
Kim, Yoon Kyung (Department of Economics, Ewha Womans University)
Publication Information
Economic and Environmental Geology / v.47, no.3, 2014 , pp. 237-246 More about this Journal
Abstract
In this study, it is estimated how many changes of macroeconomic variables are happened under the proposition of import substitution of mining products 1% using macroeconometric input-output model. For this, used macroeconometric input-output model is composed of 141 behavioral equations representing the macroeconomy structure. In general, macroeconometrics models are constructed mainly on the side of the expenditure then it is not easy to estimate the effects of the shocks occurred from industry level. To mitigate that, this study tries to construct a macroeconometric input-output model. Macroeconometrics model which is useful to estimate the effects of macroeconomic shocks, economic policy and more, in this study, is linked with input-output table through the NDI(national disposable income) derived from compensation of employee. And this paper presents the estimation results of import substitution effects of mining products on Korean economy. As a results, GDP is increased 0.00073%, gross labor employed 0.00029%, current balanace 0.00010% and unemployment rate is mitigated 0.00233%.
Keywords
macroeconometric input-output model; macroeconometrics model; input-output table; mining products; import substitution effects;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
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