A Study on Estimation of Economic Effects on Mining Products Import Substitution Using Macroeconometric Input-Output Model

Department of Economics, Ewha Womans University, 120-750 KoreaIn this study, it is estimated how many changes of macroeconomic variables are happened under the propositionof import substitution of mining products 1% using macroeconometric input-output model. For this, used macro-econometric input-output model is composed of 141 behavioral equations representing the macroeconomy structure.In general, macroeconometrics models are constructed mainly on the side of the expenditure then it is not easy toestimate the effects of the shocks occurred from industry level. To mitigate that, this study tries to construct a mac-roeconometric input-output model. Macroeconometrics model which is useful to estimate the effects of macroeco-nomic shocks, economic policy and more, in this study, is linked with input-output table through the NDI(nationaldisposable income) derived from compensation of employee. And this paper presents the estimation results ofimport substitution effects of mining products on Korean economy. As a results, GDP is increased 0.00073%, grosslabor employed 0.00029%, current balanace 0.00010% and unemployment rate is mitigated 0.00233%.