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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2012.4
- 수록면
- 69 - 98 (30page)
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초록· 키워드
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This paper constructs a multi-sector dynamic general equilibrium model for a trading economy. We incorporate three major factors of production: capital, skilled labor and unskilled labor. We solve and calibrate the model using data from Korea. We then consider changes to immigration policy. We are able to examine the effects on output, consumption, wages, and utility. We do this for both the new steady state and for the time-path leading to that steady state. In addition, we are able, if we so wish, to impose a series of unrelated macroeconomic shock to the model. This has the advantage of allowing us to calculate confidence bands around our policy impulse response functions.
We find that allowing skilled labor to immigrate leads to greater welfare gains in the steady state. We also show that there is a great deal of uncertainty surrounding the exact time path to a new steady state in the presence of the typical fluctuations associated with business cycles. We find a great deal of inertia in the transition to a new steady state.
We find that allowing skilled labor to immigrate leads to greater welfare gains in the steady state. We also show that there is a great deal of uncertainty surrounding the exact time path to a new steady state in the presence of the typical fluctuations associated with business cycles. We find a great deal of inertia in the transition to a new steady state.
목차
1. INTRODUCTION AND LITERATURE REVIEW
2. A DYNAMIC GENERAL EQUILIBRIUM MODEL
3. STATIONARIZING AND THE MODEL’S STEADY STATE SOLUTION
4. BASELINE CALIBRATION ANDDESCRIPTION OF THE STEADY STATE
5. STEADY STATES OF VARIOUS POLICY OPTIONS
6. SOLVING FOR THE MODEL’S DYNAMICS
7. NON-STOCHASTIC SIMULATIONS OF TRANSITIONPATHS
8. MONTE CARLO SIMULATIONS OF TRANSITION PATHS
9. CONCLUSIONS
REFERENCES
참고문헌 (6)
참고문헌 신청
1. [학술지(정기간행물)] - Scott C. Bradford / 2005 / A Dynamic General Equilibrium Model of Phased Korean Reunification / Korea and the World Economy 6 (1) : 27 ~ 49
2. [학술지(정기간행물)] - Choi, Yong-Yil. / 2004 / The Macroeconomic Impact of Foreign Labour Influx into the Industrialized Nation State and the Complementary Policies / Applied Economics 36 : 1057 ~ 1063
3. [학술지(정기간행물)] - Christiano, Lawrence J. / 2002 / Solving Dynamic Equilibrium Models by aof / Computational Economics 20 (1-2) : 21 ~ 55
4. [학술지(정기간행물)] - Fuess, Scott M. Jr. / 2003 / Immigration Policy and Highly Skilled Workers: The Case of Japan / Contemporary Economic Policy 21 (2) : 243 ~ 257
5. [학술지(정기간행물)] - Goto, Junichi. / 1998 / The Impact of Migrant Workers on the Japanese Economy: Trickle vs. Flood / Japan and the World Economy 10 : 63 ~ 83
2. [학술지(정기간행물)] - Choi, Yong-Yil. / 2004 / The Macroeconomic Impact of Foreign Labour Influx into the Industrialized Nation State and the Complementary Policies / Applied Economics 36 : 1057 ~ 1063
3. [학술지(정기간행물)] - Christiano, Lawrence J. / 2002 / Solving Dynamic Equilibrium Models by aof / Computational Economics 20 (1-2) : 21 ~ 55
4. [학술지(정기간행물)] - Fuess, Scott M. Jr. / 2003 / Immigration Policy and Highly Skilled Workers: The Case of Japan / Contemporary Economic Policy 21 (2) : 243 ~ 257
5. [학술지(정기간행물)] - Goto, Junichi. / 1998 / The Impact of Migrant Workers on the Japanese Economy: Trickle vs. Flood / Japan and the World Economy 10 : 63 ~ 83
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UCI(KEPA) : I410-ECN-0101-2013-320-003252440