Korea Rural Economic Institue

KREI OA 정책 KREI 전자도서관

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목차: 1. 서론
2. 거시계량몽형의 설정 및 식별
3. 자료 및 사전분석
4. 식증분석 결과
5. 결론

This paper analyzes the contribution of structural shocks to the fluctuations
of agricultural productivity in Korea. Two structural shocks, technology shocks
and demand shocks, are assumed here. A structural VAR model is used to identify
these shocks and investigate the possible permanent effects of demand shocks on
agricultural productivity.
This paper shows that while demand shocks have the permanent effects on
agricultural productivity, technology shocks dominate the movement of
agricultural productivity. Even though previous studies on agricultural
productivity have not considered the possible effects of demand shocks
explicitly, empirical findings in this paper seem to justify empirical
results in those studies.