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Trends in unemployment rates in Korea : Search-matching model interpretation

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  • Trends in unemployment rates in Korea
  • Chang, Yongsung; Nam, Jaeryang; Rhee, Changyong
  • The International Centre for the Study of East Asian Development


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Title Trends in unemployment rates in Korea
Similar Titles
Sub Title

Search-matching model interpretation

Material Type Articles
Author(English)

Chang, Yongsung; Nam, Jaeryang; Rhee, Changyong

Publisher

[Fukuoka]:The International Centre for the Study of East Asian Development

Date 2002-05
Series Title; No Working Paper Series / vol. 2002-05
Pages 31
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Social Development < Employment
Holding Asian Growth Research Institute

Abstract

We investigate the steady decline in aggregate unemployment rates in Korea since the 1960's. We argue that a pronounced decrease in the intensity of reallocation shocks, which resulted in a downward trend in the natural rate of unemployment, has been an important factor in this decline. Our claim is based on a structural searchmatching model, the times series of job-separation and job-finding rates, and sectoralshift measures that we construct from a micro data for the past three decades.