Cyclicality of Real Wages in Korea
AbstractOn the basis of the Korea Labor & Income Panel Study data over the period 1997 to 2008, this paper finds that real wages are strongly procyclical. For the same period, government-published aggregate real wages also show substantial procyclicality. Overall, measured real wage procyclicality in Korea is comparable to that in the international literature. The analysis also explores between-group heterogeneity in real wage cyclicality, such as the contrast between job changers and stayers.
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Bibliographic InfoArticle provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.
Volume (Year): 12 (2012)
Issue (Month): 1 (January)
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Web page: http://www.degruyter.com
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- Pedro S. Martins & Gary Solon & Jonathan P. Thomas, 2012. "Measuring What Employers Do about Entry Wages over the Business Cycle: A New Approach," American Economic Journal: Macroeconomics, American Economic Association, vol. 4(4), pages 36-55, October.
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