In this study, we examined the impact of the Fourth Industrial Revolution’s new technologies on the economic performance of enterprises using a propensity score-matching approach, grounded in a potential outcome framework, to mitigate endogeneity issues in estimating the effects using regression. Propensity score estimation performance was bolstered by employing a machine-learning algorithm, the random forest. Data from the Survey of Business Activities in Korea, collected through comprehensive enumeration, were used to enhance the results’ generalizability. Findings revealed that enterprises adopting new technologies experienced an approximately 40% surge in annual sales compared to those that abstained. Effect magnitude varied based on enterprise size. For small-and mediumsized enterprises, the increase was approximately 43%; for large enterprises, 77%. Thus, large enterprises appear to have an advantage over smaller ones in utilizing new technologies. This study is significant for its application of the latest research methodology in estimating economic effects of Fourth Industrial Revolution techn ologies on enterprises and identifying policy implications.

Using a range of macro슬롯 커뮤니티 and financial variables as predictors,we examined the out-of-sample predictability of iron ore prices throughmachine learning (ML) models. Our result shows that traditional factormodels or/and ML models such as random forests and extra-trees, outperformthe linear regression. For longer forecasting horizons, the Elastic Net modeldemonstrates superior accuracy. This suggests that choosing informativepredictors is crucial for improving the forecastability of iron ore prices.

This study analyzed carbon emissions in the carbon-intensive manufacturing sector of the Chungcheong region and their relationship with productivity. Industry-specific carbon emission coefficients were derived using regional input-output tables, and factors influencing emission changes within and outside the region were examined using the extended Syrquin method. The System GMM estimation method was employed to explore the impact of carbon emissions on labor productivity. The analysis revealed that direct emissions had the largest share, with some industries affected by regions outside Chungcheong. Changes in emission coefficients were a significant factor, and regions outside Chungcheong had a notable influence. Labor productivity in the Chungcheong region’s manufacturing sector remained unaffected by carbon emissions, while regions outside Chungcheong saw improvements with decreasing carbon emissions.

The aim of this study is to analyze effects of portfolio changes in public R&D investments on the Korean economy. To that end, we developed a computable general equilibrium model that enables industry-specific simulations. This study is distinguished from others in that it focused on public R&D investments of two major sectors in Korea: steel and semiconductor industries. The simulation results show that an increase of public R&D investment in the steel industry has an positive effect on the whole economy. On the other hand, an increase of public R&D investment in the semiconductor industry has an positive effect to some extent, but give a negative effect on the national economy. This implies that there is an optimal point of public R&D investment in each industry.

The aging population is expected to have an impact on the overall economy, employment, and other factors, but it is anticipated that the extent of this impact will vary by industry. Therefore, using panel data from 29 OECD countries, a regression analysis was conducted to examine the changes in industrial structure resulting from population aging. The regression analysis results indicate that the changes in the proportion of the elderly population and the proportion of the working-age population have different effects across industries. By utilizing the estimated regression coefficients and population projections from Statistics Korea, the study forecasted changes in South Korea's industrial structure caused by demographic changes. The analysis indicates that future demographic changes in Korea will likely lead to a decline in the manufacturing sector's share of total value added, accompanied by a corresponding increase in the service sector's share. Within the manufacturing sector, the proportions of the wood and paper industry and the machinery and equipment industry are projected to decline significantly. Within the service sector, the proportions of public administration and real estate industries are expected to increase substantially.

This paper explores the pass-through of major commodity prices to inflation in Korea. By using the threshold regression, we find the asymmetric response of headline inflation to the world commodity prices: energy commodities pass through the most during high inflation, while the food and beverage and industrial input play a more important role during low inflation. On the other hand, significant pass-through of the energy prices disappear with respect to the core inflation regardless of the inflation regime, meaning that 2nd round effects of energy commodity prices do not exist in Korea inflation. In contrast, food and beverage as well as industrial input significantly drive core inflation changes during low inflation. Overall our results imply that not only energy prices but also other commodity prices should be considered to stable inflation and monetary policy.

This study empirically investigates the impact of the 슬롯 커뮤니티-China FTA on sector-level productivity and employment in 슬롯 커뮤니티, with a specific focus on the role of intermediate goods imports. Using detailed imports data at HS ten-digit and KSCI five-digit levels from 2013 to 2018, we find the followings. Firstly, the 슬롯 커뮤니티-China FTA positively influenced the overall increase in imports from China. However, it did not have a significant effect on the diversification of imported products. Secondly, the rise in imports due to the trade liberalization induced by the 슬롯 커뮤니티-China FTA was predominantly driven by the increase in intermediate goods imports. This distinguishes it from the 슬롯 커뮤니티-U.S. FTA, which imports of capital goods played a central role, and other FTAs that relied heavily on consumer goods. Finally, the 슬롯 커뮤니티-China FTA did not significantly contribute to the enhancement of economic performance in 슬롯 커뮤니티 through the channel of facilitating intermediate goods imports unlike other FTAs including the 슬롯 커뮤니티-U.S. FTA.

Many SMEs require performance sharing system and the capability to reconcile demands between corporations and employees. Recent studies have examined why performance sharing system is important and the conditions under which it can be done more effectively. We extended the timely, but understudied, research by analyzing the performance sharing system and industry type on labor income share. Using the propensity scoring matching approach, we found that performance sharing SMEs significantly greater labor income share than non-performance sharing SMEs. Also, we found systematic labor income share difference by industry types. In conclusion, our quasi-experimental study contributes to a view of performance sharing system as a meaningful influence on income share of labor. Therefore, we suggest that policy-makers build policies that support the labor income share on the basis of SMEs’ performance sharing system and industry types.

Since facilities investment is regarded as one of the important factors that determines a country’s production capability, it appears to be necessary to implement a proper policy which helps understand patterns and trends and vitalize facilities investment through an accurate prediction. This study analyzes the predictive power using the Bank of Korea’s News sentiment index (NSI) and Google Trends Data in addition to a variety of macroeconomic variables. We compare the predictive power of the model for forecasting facilities investment using macroeconomic variables only to that of the model including the Bank of Korea’s NSI and Google Trends Data in addition to various macroeconomic variables. We employ Machine Learning-based models such as Adaptive LASSO, Ridge Regression, Random Forest, and Neural Network to compare predictability for facilities investment. The estimation results reveal that predictability is improved with the model using the Bank of Korea’s NSI and Google Trends Data in addition to various macroeconomic variables compared to the model using macroeconomic variables only. Our study suggests that it would be possible to improve the accuracy of prediction through the use of news-related data and a web-based search trend besides structured data and be useful for policy implementation.

This paper derives the economic effects of foreign supply chain shocks based on Jones(2011)’s multi-sector general equilibrium model and, using 슬롯 커뮤니티n input-output tables of large and basic industry classifications in 2019, analyses the effects of 10% increase in each imported intermediate price on total finl goods production & gross output and industrial gross output. In case of using large industry classification table, each imported intermediate price increase has the negative impacts on total production. Among the negative impacts, the price increase of mining products imported intermediate affects total economy to the greatest extent and those such as chemical, electronic, basic metal and coal & petroleum products make negative effects of between the 2nd and 5th orders. Using basic industry classification table, each imported intermediate price increase has also the negative impacts on total economy. Among the negative impacts, the price increase of crude oil imported intermediate affects total economy to the greatest degree and those such as natural gas, integrated circuit, bituminous coal and naphtha make negative effects of between the 2nd and 5th orders. As foreign supply chain shocks are expected to occur frequently by various causes in the future, we will have to prepare for ex-ante industrial policy for alleviating the negative impacts of foreign supply chain shocks.