Research Reports
A Study on Econometric Modeling for the Korea Agricultural Outlook, KREI-ASMO 2006
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AuthorKim, Myunghwan
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Publication Date2006.11.01
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Original
KREI-ASMO (KREI-Agricultural Simulation Model) was developed by the Korea Rural Economic Institute (KREI) in 1996, and has been used to produce mid- and long-term outlook to analyze various alternative policies for the Korean agriculture. The model is a partial equilibrium model that adopts a dynamic structural/recursive simulation method.
KREI-ASMO is divided into five sub-models as follows: 1) a sub-model for forecasting of macro-economic variables, 2) an input price sub-model, 3) a grain and fruits and vegetable sub-model, 4) a livestock sub-model, and 5) a closing sub-model for the entire Korean agriculture.
The model has been applied as a useful quantitative analysis tool to forecast demand-supply schedule by commodities for Korean agricultural outlook. KREI has renewed the statistical data base every year and has improved the structure of the model to facilitate the role of KREI-ASMO.
In particular, KREI-ASMO task-force team was established in August, 2006. The team has been working on the entire model to find out the existing problems and to improve the structure of the model. Moreover, the team will continuously provide useful information about the results out of the model. In this report, changes for the model structure of KREI-ASMO 2006 is introduced and the major activities of ASMO task-force team is also provided.
Researchers: Myung-Hwan Kim, Dae-Seob Lee, Tae-Hun Kim, Bae-Sung Kim, Young-Soo Cho, Young-Ho Lee, and Tae-Yeon Yoon
e-mail Address: kimkim@krei.re.kr, ldaeseob@krei.re.kr, taehun@krei.re.kr, bbskim@krei.re.kr, yscho@krei.re.kr, gonlee77@krei.re.kr, taebary@krei.re.kr
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