{"title":"外部冲击的传播与地区异质性:韩国省一级数据的证据","authors":"Min-Su Chung , Hyunjoon Lim","doi":"10.1016/j.asieco.2024.101790","DOIUrl":null,"url":null,"abstract":"<div><p>This paper uses panel local projection methodology to analyze Gross Regional Domestic Product (GRDP) and employment responses to external shocks, including US monetary policy, oil price, and geopolitical risk shocks. Our main findings are that the effects of US monetary policy and oil price shocks manifest with a lag of one to two years, while the impact of geopolitical risk shocks is estimated to occur immediately and dissipate rapidly. The factors behind heterogeneity in regional economic responses to external shocks were identified as income levels, industrial and demographic structures, household indebtedness, and global integration. These findings suggest that external shocks can exert heterogeneous effects depending on the nature of each region, primarily influenced by their industrial structure and economic vulnerability.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"94 ","pages":"Article 101790"},"PeriodicalIF":2.9000,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Transmission of external shocks and regional heterogeneity: Evidence from Korean province-level data\",\"authors\":\"Min-Su Chung , Hyunjoon Lim\",\"doi\":\"10.1016/j.asieco.2024.101790\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>This paper uses panel local projection methodology to analyze Gross Regional Domestic Product (GRDP) and employment responses to external shocks, including US monetary policy, oil price, and geopolitical risk shocks. Our main findings are that the effects of US monetary policy and oil price shocks manifest with a lag of one to two years, while the impact of geopolitical risk shocks is estimated to occur immediately and dissipate rapidly. The factors behind heterogeneity in regional economic responses to external shocks were identified as income levels, industrial and demographic structures, household indebtedness, and global integration. These findings suggest that external shocks can exert heterogeneous effects depending on the nature of each region, primarily influenced by their industrial structure and economic vulnerability.</p></div>\",\"PeriodicalId\":47583,\"journal\":{\"name\":\"Journal of Asian Economics\",\"volume\":\"94 \",\"pages\":\"Article 101790\"},\"PeriodicalIF\":2.9000,\"publicationDate\":\"2024-07-19\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Asian Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S104900782400085X\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Asian Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S104900782400085X","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Transmission of external shocks and regional heterogeneity: Evidence from Korean province-level data
This paper uses panel local projection methodology to analyze Gross Regional Domestic Product (GRDP) and employment responses to external shocks, including US monetary policy, oil price, and geopolitical risk shocks. Our main findings are that the effects of US monetary policy and oil price shocks manifest with a lag of one to two years, while the impact of geopolitical risk shocks is estimated to occur immediately and dissipate rapidly. The factors behind heterogeneity in regional economic responses to external shocks were identified as income levels, industrial and demographic structures, household indebtedness, and global integration. These findings suggest that external shocks can exert heterogeneous effects depending on the nature of each region, primarily influenced by their industrial structure and economic vulnerability.
期刊介绍:
The Journal of Asian Economics provides a forum for publication of increasingly growing research in Asian economic studies and a unique forum for continental Asian economic studies with focus on (i) special studies in adaptive innovation paradigms in Asian economic regimes, (ii) studies relative to unique dimensions of Asian economic development paradigm, as they are investigated by researchers, (iii) comparative studies of development paradigms in other developing continents, Latin America and Africa, (iv) the emerging new pattern of comparative advantages between Asian countries and the United States and North America.