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Limited income mobility in Korea

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  • Limited income mobility in Korea
  • Oh, Hyungna; Choi, Yun Jeong
  • Research Papers in Economics


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Title Limited income mobility in Korea
Similar Titles
Material Type Articles
Author(English)

Oh, Hyungna; Choi, Yun Jeong

Publisher

Unknown:Research Papers in Economics

Date 2014
Pages 33
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Others
Social Development < Others
Holding Research Papers in Economics

Abstract

Using the Korea Labor and Income Panel Study from 1998 to 2010, we measure income mobility and determinants of income ranks and mobility. Empirical outcomes reveal that income mobility is quite limited for both the poorest and the richest income group households. Moreover, a macro economic shock had heterogeneous impacts on each income group and the low-income class was highly vulnerable to it. Given the long-lasting impacts of early stage factors and initial endowment on income, and the existence of senior poverty, this paper calls for policies to support citizens suffering from illness, family breakdown, poor initial conditions, and aging.