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Changing Temporary Employment Dynamics in the Korean Economy (in Korean)

Author

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  • Sun-Ung Hwang

    (Yonsei University)

Abstract

This paper presents new empirical evidence of a structural change in the temporary employment dynamics using the Korean quarterly time series data from 1970.Q1 to 2005.Q4. The break date is estimated to be at the middle of the 1980s as opposed to the conventional explanation which asserts that the date of structural break points to the 1997 financial crisis. We also find that the dynamic relationship between temporary employment, regular employment, and real GDP has experienced a structural change in the mid 1980s. Evidence from the segmented cointegration test suggests that these three variables have a stationary long-run relationship after the mid 1980s, although the estimates of adjustment coefficients indicate that only temporary employment reacts on the disequilibrium error to make the system stable. Futhermore, the generalized impulse response function indicates a much stronger impact of business cycle on temporary employment compared to regular employment.

Suggested Citation

  • Sun-Ung Hwang, 2007. "Changing Temporary Employment Dynamics in the Korean Economy (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, vol. 13(4), pages 87-121, December.
    • Handle: RePEc:bok:journl:v:13:y:2007:i:4:p:87-121
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    More about this item

    Keywords

    Temporary Employment; Structural Change; Vector Error Correction Model;
    All these keywords.

    JEL classification:

    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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