Heewon Yang

TL;DR: In this paper, a regional ocean model with realistic forcing was used to identify the structure of the YSBCW and to investigate the causes of its interannual variability from 1981 to 2010.

TL;DR: In this article, a CGE model incorporating research and development (R&D) activity is suggested as an alternative to address the problems with the standard CGE, which includes the following two setups: (1) a sector's own knowledge is adopted as a production factor, and (2) others' knowledge is regarded as a source of spillover effect to increase the total factor productivity.

TL;DR: In this paper, the economic effects of increasing military expenditure, a requirement in the Republic of Korea, were examined with various scenarios concerning financial resources from an endogenous growth perspective using the dynamic Computational General Equilibrium (CGE) model.

TL;DR: In this paper, a recursive dynamic computable general equilibrium model named as Technology and Economy Modelling for Innovation Policy assessment (TEMIP) was proposed to analyze economic growth and industrial structure under different conditions on research and development (R&D) investment.

Abstract: This paper analyses the effect of military expenditure on economic growth. With various channels through which military expenditure may influence economic growth, much of the defense economics literature has found inconsistent results. This study is based on the national defense expense for the South Korea, the base year of 2009 is chosen. The effects of the military expenditure are examined in the endogeneous growth perspective. We also employ the dynamic Computational General Equilibrium in order to measure the aggregate effect, considering the channels of the positive or negative effect and the reaction of individual industries and economic agents which it follow in change of military expenditure. The positive or negative effects of military expenditure on industry varies over sectors. GDP growth is affected by military spending. We examine the change of GDP growth in case of increase(or decrease) of military spending. But welfare level including nation’s security Index may improve or be decreased.