Labor Market Duality in Korea.:
Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externalities. In this paper, I study duality in the Korean labor market and analyze its sources and potential policy options. I find that employment p...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Washington, D.C. :
International Monetary Fund,
2018.
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| Schriftenreihe: | IMF Working Papers; Working Paper ;
no. 18/126. |
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| Online-Zugang: | Volltext |
| Zusammenfassung: | Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externalities. In this paper, I study duality in the Korean labor market and analyze its sources and potential policy options. I find that employment protection legislations and large productivity differentials are the key drivers of Korea's duality. In addition, applying a general equilibrium search-and-matching model and calibrating it to the Korean economy, I show that well-calibrated flexicurity policies can significantly reduce duality and inequality and raise welfare and productivity. Notably, the introduction of all three pillars-flexiblity, a strong safety net and active labor market policies-is critical for its success. If only one pillar is introduced it can result in negative side-effects and might not reduce duality. |
| Beschreibung: | 1 online resource (37 pages) |
| ISBN: | 1484360931 1484357930 9781484357934 9781484360934 |
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| 505 | 0 | |a Cover; Contents; Abstract; I. Introduction; II. How Has Duality Evolved in Korea? What is Its Current State?; III. What is the Impact of Labor Market Duality in Korea?; IV. What Explains Labor Market Duality in Korea?; V. How Can Policy Address Labor Market Duality?; A. What is Flexicurity and When Does it Work?; B.A Model of Labor Market Duality; C. Calibration to the Korean Economy; D. Putting Flexicurity to the Test; VI. Conclusion; References; Tables; 1. Inequality by Employment Status; 2. Flow Probability by Employment Status (2013-14); 3. Regression on Number of On-the-Job Trainings. | |
| 505 | 8 | |a 4. Wages and Working Conditions by Firm Size and Employment Type5. Parameters for Calibration; 6. Moments for Calibration; 7. Policy Experiments; Figures; 1. Non-Regular Employment; 2. Employment by Status; 3. Employment by Type; 4. Employment by Gender; 5. Employment by Age and Highest Education Level; 6. Employment by Sector; 7. Employment by Firm Size; 8. Relative Wage of Non-Regular Employment Types; 9. Social Coverage by Employment Type; 10. Income Distribution by Employment Status; 11. Separation and Layoff Rates; 12. Private Spending on Education. | |
| 505 | 8 | |a 13. Dismissal Regulation for Regular Workers14. Severance Pay for Redundancy Dismissal; 15. Relative Labor Productivity; 16. Relative Wages in Services by Employment Type; 17. Union Density; 18. Trade Union Density by Employment Type; 19. Changes in Employment Shares by Wage Level; 20. Wages by Wage Level; 21. Net Replacement Rate; 22. Strictness of Employment Protection; 23. Spending on Active Labor Market Policies; 24. ALMP Spending by Type of Program; 25. Tax Wedge; 26. Severance Pay Schedule and Firing Cost; 27. Share of Job-Destruction by Tenure; 28. Wage by Tenure. | |
| 505 | 8 | |a 29. Share of Job Destruction by Tenure30. Income Change by Quintile (Firing Cost); 31. Welfare Change by Quintile (Firing Cost); 32. Share of Job-Destruction by Tenure; 33. Income Change by Quintile; 34. Welfare Change by Quintile; Boxes; 1. Korea-Key Labor Market Reforms; 2. Women, Elderly and Youth-Why Does Non-Regular Work Affect Them Disproportionately? | |
| 520 | 3 | |a Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externalities. In this paper, I study duality in the Korean labor market and analyze its sources and potential policy options. I find that employment protection legislations and large productivity differentials are the key drivers of Korea's duality. In addition, applying a general equilibrium search-and-matching model and calibrating it to the Korean economy, I show that well-calibrated flexicurity policies can significantly reduce duality and inequality and raise welfare and productivity. Notably, the introduction of all three pillars-flexiblity, a strong safety net and active labor market policies-is critical for its success. If only one pillar is introduced it can result in negative side-effects and might not reduce duality. | |
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| contents | Cover; Contents; Abstract; I. Introduction; II. How Has Duality Evolved in Korea? What is Its Current State?; III. What is the Impact of Labor Market Duality in Korea?; IV. What Explains Labor Market Duality in Korea?; V. How Can Policy Address Labor Market Duality?; A. What is Flexicurity and When Does it Work?; B.A Model of Labor Market Duality; C. Calibration to the Korean Economy; D. Putting Flexicurity to the Test; VI. Conclusion; References; Tables; 1. Inequality by Employment Status; 2. Flow Probability by Employment Status (2013-14); 3. Regression on Number of On-the-Job Trainings. 4. Wages and Working Conditions by Firm Size and Employment Type5. Parameters for Calibration; 6. Moments for Calibration; 7. Policy Experiments; Figures; 1. Non-Regular Employment; 2. Employment by Status; 3. Employment by Type; 4. Employment by Gender; 5. Employment by Age and Highest Education Level; 6. Employment by Sector; 7. Employment by Firm Size; 8. Relative Wage of Non-Regular Employment Types; 9. Social Coverage by Employment Type; 10. Income Distribution by Employment Status; 11. Separation and Layoff Rates; 12. Private Spending on Education. 13. Dismissal Regulation for Regular Workers14. Severance Pay for Redundancy Dismissal; 15. Relative Labor Productivity; 16. Relative Wages in Services by Employment Type; 17. Union Density; 18. Trade Union Density by Employment Type; 19. Changes in Employment Shares by Wage Level; 20. Wages by Wage Level; 21. Net Replacement Rate; 22. Strictness of Employment Protection; 23. Spending on Active Labor Market Policies; 24. ALMP Spending by Type of Program; 25. Tax Wedge; 26. Severance Pay Schedule and Firing Cost; 27. Share of Job-Destruction by Tenure; 28. Wage by Tenure. 29. Share of Job Destruction by Tenure30. Income Change by Quintile (Firing Cost); 31. Welfare Change by Quintile (Firing Cost); 32. Share of Job-Destruction by Tenure; 33. Income Change by Quintile; 34. Welfare Change by Quintile; Boxes; 1. Korea-Key Labor Market Reforms; 2. Women, Elderly and Youth-Why Does Non-Regular Work Affect Them Disproportionately? |
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| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| geographic | Korea fast |
| geographic_facet | Korea |
| id | ZDB-4-EBU-on1041920094 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-16T15:04:21Z |
| institution | BVB |
| isbn | 1484360931 1484357930 9781484357934 9781484360934 |
| language | English |
| oclc_num | 1041920094 |
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| publishDate | 2018 |
| publishDateSearch | 2018 |
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| publisher | International Monetary Fund, |
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| series | IMF Working Papers; Working Paper ; |
| series2 | IMF Working Papers |
| spelling | Schauer, Johanna, author. http://id.loc.gov/authorities/names/no2017056150 Labor Market Duality in Korea. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (37 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Papers Print version record. Cover; Contents; Abstract; I. Introduction; II. How Has Duality Evolved in Korea? What is Its Current State?; III. What is the Impact of Labor Market Duality in Korea?; IV. What Explains Labor Market Duality in Korea?; V. How Can Policy Address Labor Market Duality?; A. What is Flexicurity and When Does it Work?; B.A Model of Labor Market Duality; C. Calibration to the Korean Economy; D. Putting Flexicurity to the Test; VI. Conclusion; References; Tables; 1. Inequality by Employment Status; 2. Flow Probability by Employment Status (2013-14); 3. Regression on Number of On-the-Job Trainings. 4. Wages and Working Conditions by Firm Size and Employment Type5. Parameters for Calibration; 6. Moments for Calibration; 7. Policy Experiments; Figures; 1. Non-Regular Employment; 2. Employment by Status; 3. Employment by Type; 4. Employment by Gender; 5. Employment by Age and Highest Education Level; 6. Employment by Sector; 7. Employment by Firm Size; 8. Relative Wage of Non-Regular Employment Types; 9. Social Coverage by Employment Type; 10. Income Distribution by Employment Status; 11. Separation and Layoff Rates; 12. Private Spending on Education. 13. Dismissal Regulation for Regular Workers14. Severance Pay for Redundancy Dismissal; 15. Relative Labor Productivity; 16. Relative Wages in Services by Employment Type; 17. Union Density; 18. Trade Union Density by Employment Type; 19. Changes in Employment Shares by Wage Level; 20. Wages by Wage Level; 21. Net Replacement Rate; 22. Strictness of Employment Protection; 23. Spending on Active Labor Market Policies; 24. ALMP Spending by Type of Program; 25. Tax Wedge; 26. Severance Pay Schedule and Firing Cost; 27. Share of Job-Destruction by Tenure; 28. Wage by Tenure. 29. Share of Job Destruction by Tenure30. Income Change by Quintile (Firing Cost); 31. Welfare Change by Quintile (Firing Cost); 32. Share of Job-Destruction by Tenure; 33. Income Change by Quintile; 34. Welfare Change by Quintile; Boxes; 1. Korea-Key Labor Market Reforms; 2. Women, Elderly and Youth-Why Does Non-Regular Work Affect Them Disproportionately? Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externalities. In this paper, I study duality in the Korean labor market and analyze its sources and potential policy options. I find that employment protection legislations and large productivity differentials are the key drivers of Korea's duality. In addition, applying a general equilibrium search-and-matching model and calibrating it to the Korean economy, I show that well-calibrated flexicurity policies can significantly reduce duality and inequality and raise welfare and productivity. Notably, the introduction of all three pillars-flexiblity, a strong safety net and active labor market policies-is critical for its success. If only one pillar is introduced it can result in negative side-effects and might not reduce duality. Labor market Korea. Wages Korea. Marché du travail Corée. Labor market fast Wages fast Korea fast has work: Labor Market Duality in Korea (Text) https://id.oclc.org/worldcat/entity/E39PCXv9mdqmqTTJ6BX68GKVKH https://id.oclc.org/worldcat/ontology/hasWork Print version: Schauer, Johanna. Labor Market Duality in Korea. Washington, D.C. : International Monetary Fund, ©2018 9781484357934 IMF Working Papers; Working Paper ; no. 18/126. FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1832916 Volltext |
| spellingShingle | Schauer, Johanna Labor Market Duality in Korea. IMF Working Papers; Working Paper ; Cover; Contents; Abstract; I. Introduction; II. How Has Duality Evolved in Korea? What is Its Current State?; III. What is the Impact of Labor Market Duality in Korea?; IV. What Explains Labor Market Duality in Korea?; V. How Can Policy Address Labor Market Duality?; A. What is Flexicurity and When Does it Work?; B.A Model of Labor Market Duality; C. Calibration to the Korean Economy; D. Putting Flexicurity to the Test; VI. Conclusion; References; Tables; 1. Inequality by Employment Status; 2. Flow Probability by Employment Status (2013-14); 3. Regression on Number of On-the-Job Trainings. 4. Wages and Working Conditions by Firm Size and Employment Type5. Parameters for Calibration; 6. Moments for Calibration; 7. Policy Experiments; Figures; 1. Non-Regular Employment; 2. Employment by Status; 3. Employment by Type; 4. Employment by Gender; 5. Employment by Age and Highest Education Level; 6. Employment by Sector; 7. Employment by Firm Size; 8. Relative Wage of Non-Regular Employment Types; 9. Social Coverage by Employment Type; 10. Income Distribution by Employment Status; 11. Separation and Layoff Rates; 12. Private Spending on Education. 13. Dismissal Regulation for Regular Workers14. Severance Pay for Redundancy Dismissal; 15. Relative Labor Productivity; 16. Relative Wages in Services by Employment Type; 17. Union Density; 18. Trade Union Density by Employment Type; 19. Changes in Employment Shares by Wage Level; 20. Wages by Wage Level; 21. Net Replacement Rate; 22. Strictness of Employment Protection; 23. Spending on Active Labor Market Policies; 24. ALMP Spending by Type of Program; 25. Tax Wedge; 26. Severance Pay Schedule and Firing Cost; 27. Share of Job-Destruction by Tenure; 28. Wage by Tenure. 29. Share of Job Destruction by Tenure30. Income Change by Quintile (Firing Cost); 31. Welfare Change by Quintile (Firing Cost); 32. Share of Job-Destruction by Tenure; 33. Income Change by Quintile; 34. Welfare Change by Quintile; Boxes; 1. Korea-Key Labor Market Reforms; 2. Women, Elderly and Youth-Why Does Non-Regular Work Affect Them Disproportionately? Labor market Korea. Wages Korea. Marché du travail Corée. Labor market fast Wages fast |
| title | Labor Market Duality in Korea. |
| title_auth | Labor Market Duality in Korea. |
| title_exact_search | Labor Market Duality in Korea. |
| title_full | Labor Market Duality in Korea. |
| title_fullStr | Labor Market Duality in Korea. |
| title_full_unstemmed | Labor Market Duality in Korea. |
| title_short | Labor Market Duality in Korea. |
| title_sort | labor market duality in korea |
| topic | Labor market Korea. Wages Korea. Marché du travail Corée. Labor market fast Wages fast |
| topic_facet | Labor market Korea. Wages Korea. Marché du travail Corée. Labor market Wages Korea |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1832916 |
| work_keys_str_mv | AT schauerjohanna labormarketdualityinkorea |