Macroeconomics and Social Effects: Can They Be Measured? The Case of South Korea and Denmark

Abstract In many Asian countries the economic crisis exposed a poor analytic ability to anticipate and evaluate the social effects of the crisis. Based on the Korean experience and the few data published about the social impacts of the economic crisis, this articles discusses the possibility of learning from other case studies that assess social-economic linkages. Conclusions are drawn about the extent to which the Danish experjence in modelling social effects can be emulated in a Korean context and what are the requirements to data.