The Economic Cost of Unsupplied Diesel Product in Korea Using Input-Output Analysis
Abstract
:1. Introduction
2. Methodology and Empirical Model
2.1. Methodology: I-O Analysis
2.2. Empirical Model
2.3. Economic Consideration
3. Data and Some Assumptions
3.1. Data
Code | Name of Sector |
---|---|
1 | Agriculture, forestry and fishing |
2 | Mining and quarrying |
3 | Food, beverages and tobacco products |
4 | Textile and apparel |
5 | Wood and paper products |
6 | Printing and reproduction of recorded media |
7 | Non-diesel petroleum and coal products |
8 | Chemicals, drugs and medicines |
9 | Non-metallic mineral products |
10 | Basic metal products |
11 | Fabricated metal products except machinery and furniture |
12 | General machinery and equipment |
13 | Electronic and electrical equipment |
14 | Precision instruments |
15 | Transportation equipment |
16 | Furniture and other manufactured products |
17 | Electricity, gas, steam and water supply |
18 | Construction |
19 | Wholesale and retail trade |
20 | Accommodation and food services |
21 | Transportation |
22 | Communications and broadcasting |
23 | Finance and insurance |
24 | Real estate and business services |
25 | Public administration and defense |
26 | Education, health and social work |
27 | Other services |
28 | Dummy (miscellaneous) sectors |
29 | Diesel products |
3.2. Some Assumptions
4. Results
Name of Sectors | Sector Codes | Value-Added Multipliers |
---|---|---|
Transportation | 21 | 0.8770 |
Mining and quarrying | 2 | 0.9155 |
Non-diesel petroleum and coal products | 7 | 0.9303 |
Non-metallic mineral products | 9 | 0.9450 |
Electricity, gas, steam and water supply | 17 | 0.9504 |
Basic metal products | 10 | 0.9601 |
Chemicals, drugs and medicines | 8 | 0.9649 |
Agriculture, forestry and fishing | 1 | 0.9650 |
Construction | 18 | 0.9666 |
Fabricated metal products except machinery and furniture | 11 | 0.9705 |
Food, beverages and tobacco products | 3 | 0.9718 |
Wood and paper products | 5 | 0.9735 |
Wholesale and retail trade | 19 | 0.9736 |
Furniture and other manufactured products | 16 | 0.9746 |
General machinery and equipment | 12 | 0.9764 |
Dummy (miscellaneous) sectors | 28 | 0.9772 |
Transportation equipment | 15 | 0.9777 |
Textile and apparel | 4 | 0.9778 |
Electronic and electrical equipment | 13 | 0.9792 |
Accommodation and food services | 20 | 0.9797 |
Precision instruments | 14 | 0.9797 |
Printing and reproduction of recorded media | 6 | 0.9804 |
Other services | 27 | 0.9826 |
Education, health and social work | 26 | 0.9833 |
Public administration and defense | 25 | 0.9868 |
Communications and broadcasting | 22 | 0.9872 |
Real estate and business services | 24 | 0.9906 |
Finance and insurance | 23 | 0.9920 |
Stage | Name of Sectors | Case 1 (σ = 20%) | Case 2 (σ = 30%) | Marginal Shortage Cost b | ||||
---|---|---|---|---|---|---|---|---|
Shortage % | Total Benefit a | Average Shortage cost b | Shortage % | Total Benefit a | Average Shortage Cost b | |||
1 | Diesel product | 0.0850 | 1,045,788 | 2,116 | 0.1275 | 1,044,730 | 3,175 | 716 |
2 | Transportation | 0.1296 | 1,034,277 | 11,511 | 0.1943 | 1,027,462 | 17,267 | 7,420 |
3 | Non-diesel petroleum and coal products | 0.1423 | 1,028,477 | 5,799 | 0.2134 | 1,018,763 | 8,699 | 13,099 |
4 | Non-metallic mineral products | 0.1429 | 1,028,149 | 327 | 0.2143 | 1,018,271 | 491 | 16,608 |
5 | Electricity, gas, steam and water supply | 0.1479 | 1,024,939 | 3,209 | 0.2218 | 1,013,456 | 4,814 | 18,409 |
6 | Basic metal products | 0.1525 | 1,021,243 | 3,696 | 0.2288 | 1,007,912 | 5,544 | 22,902 |
7 | Chemicals, drugs and medicines | 0.1653 | 1,009,683 | 11,559 | 0.2479 | 990,572 | 17,339 | 25,991 |
8 | Agriculture, forestry and fishing | 0.1688 | 1,006,449 | 3,234 | 0.2533 | 985,721 | 4,851 | 26,087 |
9 | Construction | 0.2074 | 970,873 | 35,575 | 0.3111 | 932,357 | 53,363 | 26,508 |
10 | Fabricated metal products except machinery and furniture | 0.2102 | 967,907 | 2,966 | 0.3152 | 927,907 | 4,449 | 30,984 |
11 | Food, beverages and tobacco products | 0.2201 | 956,707 | 11,199 | 0.3301 | 911,108 | 16,799 | 32,393 |
12 | Wood and paper products | 0.2205 | 956,170 | 536 | 0.3308 | 910,303 | 805 | 34,395 |
13 | Wholesale and retail trade | 0.2318 | 942,679 | 13,491 | 0.3477 | 890,066 | 20,236 | 34,551 |
14 | Furniture and other manufactured products | 0.2335 | 940,468 | 2,210 | 0.3503 | 886,750 | 3,315 | 35,893 |
15 | General machinery and equipment | 0.2441 | 926,331 | 14,137 | 0.3661 | 865,544 | 21,205 | 38,633 |
16 | Dummy (miscellaneous) sectors | 0.2441 | 926,279 | 52 | 0.3661 | 865,466 | 78 | 40,103 |
17 | Transportation equipment | 0.2631 | 899,203 | 27,076 | 0.3947 | 824,851 | 40,614 | 40,852 |
18 | Textile and apparel | 0.2688 | 891,125 | 8,078 | 0.4032 | 812,734 | 12,117 | 41,147 |
19 | Electronic and electrical equipment | 0.2938 | 852,868 | 38,256 | 0.4407 | 755,350 | 57,384 | 43,922 |
20 | Accommodation and food services | 0.3009 | 841,804 | 11,063 | 0.4513 | 738,754 | 16,595 | 44,896 |
21 | Precision instruments | 0.3027 | 839,036 | 2,768 | 0.4540 | 734,601 | 4,152 | 44,983 |
22 | Printing and reproduction of recorded media | 0.3027 | 838,923 | 112 | 0.4541 | 734,432 | 169 | 46,561 |
23 | Other services | 0.3091 | 827,363 | 11,559 | 0.4636 | 717,092 | 17,339 | 52,345 |
24 | Education, health and social work | 0.3259 | 795,383 | 31,980 | 0.4888 | 669,121 | 47,970 | 54,674 |
25 | Public administration and defense | 0.3336 | 776,919 | 18,464 | 0.5004 | 641,425 | 27,696 | 68,969 |
26 | Communications and broadcasting | 0.3355 | 772,097 | 4,821 | 0.5033 | 634,193 | 7,232 | 71,129 |
27 | Real estate and business services | 0.3433 | 746,074 | 26,022 | 0.5149 | 595,159 | 39,034 | 96,796 |
28 | Finance and insurance | 0.3458 | 736,120 | 9,954 | 0.5187 | 580,227 | 14,931 | 113,376 |
5. Concluding Remarks
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Kim, M.; Yoo, S.-H. The Economic Cost of Unsupplied Diesel Product in Korea Using Input-Output Analysis. Energies 2012, 5, 3465-3478. https://doi.org/10.3390/en5093465
Kim M, Yoo S-H. The Economic Cost of Unsupplied Diesel Product in Korea Using Input-Output Analysis. Energies. 2012; 5(9):3465-3478. https://doi.org/10.3390/en5093465
Chicago/Turabian StyleKim, Myunghwan, and Seung-Hoon Yoo. 2012. "The Economic Cost of Unsupplied Diesel Product in Korea Using Input-Output Analysis" Energies 5, no. 9: 3465-3478. https://doi.org/10.3390/en5093465