콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Social Development Employment

Print

‘Smart’ employment policy : The tradable-credits approach to full-employment targeting

Related Document
Frame of Image 82-2-3299-3114 82-44-287-3333 Fax : 82-2-963-8540 URL : http://www.kiet.re.kr
‘Sew Investment Strategies Nmart’ Employment Policy: to Consolidate the Growth Capabilities of Major Approach to Full-Employment Targeting The Tradable-Credits Industries in the Smart Era Published December 30, 2011 Korea by by KIET on July 20, 2016 in in Korea KIET 2011 2016 KIET ISBN 978-89-5992-000-0 93320 978-89-5992-922-1
Contents
Abstract …………………………………………………………… 7 Ⅰ. Introduction ……………………………………………………… 9 Ⅱ. Artificial Trading Markets and Employment Policy ……14 Ⅲ. The Idea of Employment Credit Trading System ………22
1. Contents of the System …………………………………………22 2. Operation of the System ………………………………………23
Ⅳ. Functional Characteristics: Smart Employment Policy …27
1. Least Cost Employment Targeting …………………………27 2. Fiscal Efficiency …………………………………………………30 3. Precision and Promptness in Targeting ……………………32
Ⅴ. Issues Related to Permanent Implementation ……………35
1. Deadweight Loss and Implementation Costs ………………35 2. Frequency of Instances Requiring Policy Intervention ……37 3. Employment Externalities ………………………………………39
Ⅵ. Additional Discussions ………………………………………42
1. Why Hiring Subsidies? …………………………………………42 2. The Market Size Issue …………………………………………44 3. Employment Credit Trading System and Firms’ Response to an Economic Recession …………………………………… 45 4. Smart Machines vs. Smart Employment Policy …………… 47
Ⅶ. Conclusion ……………………………………………………… 53
References ……………………………………………………… 55 Appendix 1. A Proof of Social-C


Full Text
Title ‘Smart’ employment policy
Similar Titles
Sub Title

The tradable-credits approach to full-employment targeting

Material Type Reports
Author(English)

Kang, Du-Yong

Publisher

[Sejong, South Korea]:Korea Institute for Industrial Economics&Trade

Date 2016
Series Title; No KIET Occasional Paper / no. 100
ISBN 978-89-5992-922-1
Pages 67
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Employment
Holding KIET

Abstract

This paper discusses the idea of applying an artificial trading market approach, commonly used in environmeutal policy, to employment policy as a means of creating jobs more effectively. Artificial market approaches, as exemplified by the emission permits trading system, theoretically represent the most efficient means of attaining quantitative targets. At the same time, the policies based on such an approach have a constraint inherent in the trading market that they, to be effective, need to be implemented on an ongoing basis for a substantial period of time. Employment policy seems to be a promising area for the application of artificial market approaches, since it has an explicit quantitative target ? full employment ? and since circumstances with under-employment arise frequently. Specifically, this paper proposes a policy tentatively called an “employment credit trading system”, which is an employment targeting policy based on the combination of tradable credits and hiring subsidy, and investigates its expected effects. (The rest omitted)