Advancing Labor Market Reforms in Korea
Title | Advancing Labor Market Reforms in Korea PDF eBook |
Author | Stella Tam |
Publisher | International Monetary Fund |
Pages | 25 |
Release | 2024-08-23 |
Genre | |
ISBN |
This paper examines structural challenges facing the Korean labor market and analyzes the macroeconomic effects of potential labor market reforms. Our cross-country empirical analysis finds that easing of employment protection legislation tends to have positive macroeconmic effects during periods of strong growth but could turn contractionary in periods of slack. By contrast, increased spending on active labor market policies and reductions to the labor tax wedge tend to be more effective in periods of slack. Our analysis thus highlights the importance of considering economic and policy conditions when designing labor market reforms. Under the current disinflationary policy stance, the government’s focus on the working hour reform seems appriorate. With growth recovering, deregulation to reduce employment protection for regular workers can also be considered, combined with targeted support to vulnerable groups.
Pushing Ahead with Reform in Korea Labour Market and Social Safety-net Policies
Title | Pushing Ahead with Reform in Korea Labour Market and Social Safety-net Policies PDF eBook |
Author | OECD |
Publisher | OECD Publishing |
Pages | 178 |
Release | 2000-06-26 |
Genre | |
ISBN | 926418192X |
This book shows that government labour and social policies, together with improved basic workers’ rights, helped minimise the costs of Korea's economic and financial crisis while also contributing to overcome it.
Strategies for Reforming Korea’s Labor Market to Foster Growth
Title | Strategies for Reforming Korea’s Labor Market to Foster Growth PDF eBook |
Author | Mai Dao |
Publisher | International Monetary Fund |
Pages | 20 |
Release | 2014-07-25 |
Genre | Business & Economics |
ISBN | 1498347924 |
While the Korean unemployment rates are currently among the lowest in OECD countries, the labor market duality and the underemployment in some segments of the population are important labor market challenges, and factors contributing to lower potential growth. The paper shows the benefits of comprehensive policy reforms aimed at increasing labor force participation and youth employment and reducing duality are likely to be considerable in the medium term.
Labor Market Reforms in Korea
Title | Labor Market Reforms in Korea PDF eBook |
Author | Funkoo Park |
Publisher | |
Pages | 472 |
Release | 2001 |
Genre | Labor laws and legislation |
ISBN |
Comprises 17 papers which explore labour market reforms following the 1997 financial crisis. Covers income support programmes, labour law and labour market regulations, active labour market programmes and comparisons of the Korean experience with other countries.
Labor Market Developments and Reforms in Korea
Title | Labor Market Developments and Reforms in Korea PDF eBook |
Author | Ju Ho Lee |
Publisher | |
Pages | 67 |
Release | 1997 |
Genre | Labor market |
ISBN |
Labor Market Duality in Korea
Title | Labor Market Duality in Korea PDF eBook |
Author | Johanna Schauer |
Publisher | International Monetary Fund |
Pages | 36 |
Release | 2018-06-01 |
Genre | Business & Economics |
ISBN | 1484357930 |
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.
Labour market reforms in Korea to promote inclusive growth
Title | Labour market reforms in Korea to promote inclusive growth PDF eBook |
Author | |
Publisher | |
Pages | |
Release | 2016 |
Genre | |
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