COVID-19 was first reported in China in December 2019 and has since rapidly spread worldwide. It was declared a pandemic by the WHO in March 2020. In Korea, the first confirmed case of COVID-19 was on January 20, 2020. Thus, 2020 was a year that the Korean economy spent entirely under the shock...

Since most official estimates of major macroeconomic variables that market participants and policy makers keenly monitor in real time come out with significant publication lags, nowcasting literature especially targeted on key macro variables has trended over the recent years. Nowcasting refers...

n this article, we focus only on the SR component of demand, and our main aim is to address the third deficiency in addition to the first two. In place of a TRF, we introduce a new concept : the cross-temperature response function (CTRF). The CTRF employs economic covariates directly in the...

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...

The stable supply of energy is very important in Korea owing to its high level of energy consumption and heavy reliance on imports for its energy use. As of 2017, Korea’s final energy consumption per capita was 4.55 tons of oil equivalent (toe), 3.5 times the global average of 1.28 toe, with...

The tremendous advances that have been made in information and communication technology have led to a concomitant increase in the production and accumulation of big data in various sectors. And as big data has grown, governments, private enterprise and academia are coming paying it more and more...