Rigorous Speculation: The Collapse and Revival of the North Korean Economy
AbstractIn this paper we use cross-entropy estimation techniques to construct the underlying data base for a computable general equilibrium model (CGE) of the North Korean economy, starting from incomplete data ridden with gross measurement errors. The cross-entropy estimation approach is powerful and flexible, allowing us to make full use of what information we have in whatever form. CGE modeling forces internal consistency. The end product is a model that incorporates fragmentary information in a rigorous way and allows us to examine the implications of a number of alternative scenarios including rehabilitation of flood-affected lands, liberalization of the international trade regime, and military demobilization.
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Bibliographic InfoArticle provided by Elsevier in its journal World Development.
Volume (Year): 28 (2000)
Issue (Month): 10 (October)
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Other versions of this item:
- Marcus Noland & Sherman Robinson & Tao Wang, 1999. "Rigorous Speculation: The Collapse and Revival of the North Korean Economy," Working Paper Series WP99-1, Peterson Institute for International Economics.
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