政府負債의 衝擊反應效果와 制度的인 政策方案

Impulse-Response Effects of Government Debt, Its Simulation, and Reexamination of Institutional Policy

Through the IMF crisis in the Korean economy, the government debt has been on rapid increase, and the origin of it has different dimension from that of OECD countries’. This work examines the structure of the government debt, and the impulse-response effects of it are critically analyzed in VAR model. According to the economic growth rate and the interest rate, the government debts in the future are simulated. Any simulations result in increasing the government debts without an annual decrease in the debt itself by 8-12%. The government policies to reduce the government debt are reconsidered in the institutional aspects as well.