Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/194921
Authors: 
Lee, Hyeok
Kim, Yong Kyun
Year of Publication: 
2018
Citation: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 7 [Year:] 2018 [Issue:] 16 [Pages:] 1-14
Abstract: 
The trend of low commodity prices looks to continue. Such a trend will affect small open economies that are heavily commodity import dependent, such as the economy of South Korea. Hence, it is of interest to see how the economy would have performed differently with changes in the imported commodity price. In order to systematically investigate this effect, this paper utilizes the Computable General Equilibrium model. In applying the model, maximum entropy estimation approach is used to estimate behavioral parameters for the model. The results of scenario analyses seem to indicate that technology intensity of the industries dictates how differently the given industry will behave with regard to the change in crude oil prices.
Subjects: 
CGE
External shock
Oil price
Korean economy
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article
Social Media Mentions:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.