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Long-Term Projection for the Growth Pattern and Industrial Structure of the Korean Economy

Author JinMyon Lee, Youngho Lee, Bawoo Kim, Jungmin Han, Jaejin Kim Date 2013.11.20 Page 60
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This paper aims to conduct long-term projections about the
organizational changes in the Korean economy and industry. The
KIET-DIMM (KIET Dynamic Inter-industry Macroeconomic Model)
was developed into KIET-DIMM12 to conduct this research. The
KIET-DIMM is basically designed to achieve balance between
industrial demands and supplies based on Walras’ general
equilibrium theory in microeconomics and the equilibrium over
aggregate demand and supply in macroeconomics. The KIET-
DIMM12 is updated with population/household block based on
KIET-DIMM consisting of demand-supply, price/technology,
foreign, and macroeconomy blocks.