Labor Market Duality in Korea

Released on by Johanna Schauer
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  • Labor Market Duality in Korea Book Detail

  • Author : Johanna Schauer
  • Release Date : 2018-06-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 36
  • ISBN 13 : 1484360915
  • File Size : 67,67 MB
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Labor Market Duality in Korea by Johanna Schauer PDF Summary

Book Description: 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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Labor Market Duality in Korea

Labor Market Duality in Korea

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Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externaliti

Advancing Labor Market Reforms in Korea

Advancing Labor Market Reforms in Korea

File Size : 74,74 MB
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This paper examines structural challenges facing the Korean labor market and analyzes the macroeconomic effects of potential labor market reforms. Our cross-cou