Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/316640 
Autor:innen: 
Erscheinungsjahr: 
2025
Quellenangabe: 
[Journal:] East Asian Economic Review (EAER) [ISSN:] 2508-1667 [Volume:] 29 [Issue:] 1 [Year:] 2025 [Pages:] 41-76
Verlag: 
Korea Institute for International Economic Policy (KIEP), Sejong-si
Zusammenfassung: 
This study analyzes the drivers of inflation in South Korea using a Dynamic Stochastic General Equilibrium (DSGE) model tailored to the characteristics of Korea as a small open economy. Employing quarterly data from 1999Q2 to 2023Q2, Bayesian estimation is used to estimate Korea-specific parameters. Based on the estimated parameters, impulse response analysis and historical decomposition are conducted. The results indicate that cost-push shocks tied to imported goods pricing have been the primary driver of recent inflation surges in Korea. Accordingly, policymakers need to adopt a comprehensive approach—including not only monetary policy but also macroprudential measures and raw material supply management—to mitigate supply-side inflationary pressures effectively.
Schlagwörter: 
Inflation
Dynamic Stochastic General Equilibrium
Bayesian Estimation
Cost-push Shocks
JEL: 
C11
E31
E32
F41
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