콘텐츠 바로가기
로그인
컨텐츠
  • HOME
  • SEARCH
PLUS Text Size MINUS RESET
FACEBOOK TWITTER Linked In

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic System

Print

소득변동성 측정과 원인파악 및 축소를 위한 정책방안 연구(Study on income volatility: measurement, causes and policy implications)

Related Document
Frame of Image


Full Text
Title 소득변동성 측정과 원인파악 및 축소를 위한 정책방안 연구(Study on income volatility: measurement, causes and policy implications)
Similar Titles
Material Type Reports
Author(Korean)

김용성; 박선영; 신동균

Publisher

세종 : 한국개발연구원

Date 2015-12
Series Title; No 정책연구시리즈 / 2015-21
ISBN 979-11-5932-145-0 (93320)
Pages 81
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Economic System
Holding 한국개발연구원; KDI국제정책대학원
License

Abstract

The ongoing changes in demographic composition and the labour market continue to raise income volatility in our society. Given that the increasing income volatility following the financial crisis in the late 1990s has profoundly affected our daily lives, this study empirically analyzes and examines the magnitude and impact on economic welfare. Empirical results show that income volatility, particularly due to the permanent shocks, has a long-lasting negative impact. Not surprisingly, income volatility yields different welfare consequences depending on how successfully a household can respond with the appropriate measures. This study finds that the impact the permanent shocks have on household welfare could be greatly reduced by facilitating adjustments in the household labour supply. On the other hand, the effect of temporary shocks could be mitigated by raising the accessibility of households to the financial market. Accordingly, these two policy instruments could complement each other, meaning that they would yield more positive results working together than being implemented independently. Finally, presented are suggestions that the government should pay special attention on the groups vulnerable to income shocks such as the elderly and socio-economically disadvantaged households.