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Labor market developments of Korea in macroeconomic perspectives

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Title Labor market developments of Korea in macroeconomic perspectives
Similar Titles
Material Type Reports
Author(English)

Kim, Choongsoo

Publisher

[Seoul]:Korea Development Institute

Date 1989-04
Pages 62
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Macroeconomics
Holding Korea Development Institute

Abstract

In this paper, we examine the changing patterns of the Korean labor market and also investigate the determinants of the supply and demand for labor with a special focus on the relationship between the wage rate change and labor market conditions. The paper unfolds as follows. In the second section, a conceptual framework for modelling the supply and demand for labor and related conceptual issues are briefly discussed. In section Ⅲ, key statistics of the Korean labor market and underlying policy issues are described. Empirical findings of the estimated result using quarterly time-series data are presented and analyzed in sections Ⅳ and Ⅴ, section Ⅳ presenting labor supply and demand equations and section Ⅴ wage equations. Finally, policy implications and concluding remarks are contained in section Ⅵ.