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KDI Economic Outlook 2020-2nd Half
The Effects of Monetary Expansion and the COVID-19 Economic Crisis

November 11, 2020

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■ The effects of the economic policy response to COVID-19 may not be as large as they were during the past crisis due to limited production in services that require close contact and/or gather large crowds.

■ The possibility that the effectiveness of policies may have been damaged should be taken into account, and additional expansionary measures should be considered if necessary following a close review of the economic conditions.

■ Factoring in the unique features of COVID-19, financial support should be maintained to stabilize services that require close contact and/or gather large crowds, and employment.

■ Meanwhile, preemptive efforts are also needed to detect and respond to the side effects from prolonging crisis response policies to support insolvent companies, and the growing moral hazard in the financial market.
 
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

Main Tasks
  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
  • Maintenance of multi-sectoral dynamic macroeconomic model
Department of Macroeconomic Policy
  • LEE. Tae Suk

    Director, Division of Analysis and Evaluation

    82-044-550-4725
  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

    82-044-550-4725
  • LEE, Jongkyu

    Fellow

    82-044-550-4725
  • WEE, Hyeseung Dispatched

    Research Associate

    82-044-550-4725
  • NAM, Jinwook On leave

    Specialist

    82-044-550-4725
  • KIM, Seulki

    Research Associate

    82-044-550-4725
  • CHUN, Eunkyung

    Research Associate

    82-044-550-4725
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