A General Equilibrium Growth Model for Korea

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A general equilibrium growth model is constructed to analyse the income distributional impacts of the 1973 world oil crisis upon the Korean economy. Our results show that all consumer groups experienced a virtually uniform percentage reduction in their income levels. This implies that a lower income groups may be more damaged in a relative sense. In any rate, there were no domestic groups who benefit from the international oil crisis. This model could be used to figure out which social group will be most vulnerable against the next possible oil crisis we may expect in the future. Our result nay provide us a guideline for a compensating program to protect such groups against an external shock.
Publisher
한국경영과학회
Issue Date
1982-05
Language
English
Citation

한국경영과학회지, v.7, no.1, pp.31 - 43

ISSN
1225-1119
URI
http://hdl.handle.net/10203/11890
Appears in Collection
IE-Journal Papers(저널논문)
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